Wednesday, October 23, 2019

New incentives spur boom in film earnings

Apr 24. 2017
Facebook Twitter

By THE NATION

1,798 Viewed

THAILAND earned over Bt900 million from international film productions in the first quarter of 2017, thanks to a new set of production incentives offered to movie producers, according to the Department of Tourism.

With this positive trend, it is estimated that Thailand will make Bt3 billion to Bt4 billion from foreign film productions by the end of this year as targeted, said Wanasiri Morakul, director general of the DOT.

According to Wanasiri, 239 foreign films have already been shot in Thailand from January to March this year. Hollywood is the country’s top customer, generating for the country some Bt161 million from film productions. Following closely behind is Britain, which has brought in Bt160 million from their movie projects.

The new incentive offers a 15-per cent cash rebate for the film producers with local spending over Bt100 million. The new incentive programme has become effective since January this year.

“The new incentive measure has been very successful,” Wanasiri said. “We’re confident that the total income from foreign film productions in Thailand this year will be higher than the previous years,” she added.

In the first quarter of 2017, the film that has received the 15 per cent cash rebate with its Bt100 million local spending was the movie “Close” by British movie makers.

“In May, we will consider the applications for the cash rebate for the second quarter and it is expected that at least two movie productions will be qualified for the rebate with a combined investment of over Bt620 million,” said Wanasiri, adding that the cash rebate may amount to Bt93 million.

In addition to the new incentive measure, the Department of Tourism is also launching marketing and promotional campaigns to attract more foreign film productions to use Thailand as the location of their movie productions, Wanasiri said.

 

Tags:
Facebook Twitter
More in Business
Editor’s Picks
Top News