Thailand eyes at least 10,000 high net-worth foreigners for its Elite Card scheme

Currently, there are some 20,200 Thailand Elite Card holders in the country and the number is expected to grow.

Apichai Chatchalermkit, acting president of Thailand Privilege Card Co, which operates the Elite visa scheme, told the press on Tuesday that the tourism authorities will prioritise social responsibility to attract more environmentally conscious high-worth foreigners.

Hence, based on the ESG (environment, social and governance) philosophy, the company has laid out strategies to improve services and ensure sustainable growth.

Apichai, who is also deputy governor of the Tourism Authority of Thailand (TAT)’s tourism products and business department, said the goal is to strengthen communities and pave the way for growth in line with the government’s bio-circular-green (BCG) economy model.

“More schemes are required to entice quality tourists to the country, and ESG will have a lot to do with it,” he added. “The company has created a value-creating network based on the ESG philosophy under the concept of a ‘network of inclusive growth and sustainable society’.”

He said that under this concept, the company has invested part of the profits generated from the sale of membership cards to benefit organisations involved in local tourism and social development. The organisations gaining from the investment are Hug Muang Nan Foundation, Operation Smile and Dynamic School Thailand.

“So, our members will realise and appreciate that their visit to Thailand is very valuable,” Apichai said, adding that each Elite Card holder can be expected to generate at least 100,000 baht in revenue while in the country.

Thailand has always been popular among foreign tourists, and according to TAT, the country saw some 5.6 million arrivals between January 1 and September 30, 2022, generating 200 billion baht in revenue.

These statistics are consistent with the World Tourism Organisation (UNWTO), which recently released a list of countries based on their tourism recovery. Thailand topped the list in terms of hotel bookings and came in second for confidence among 10 countries.

Thailand Privilege Card Co was founded in 2003 and is the operator of Thailand Elite Card. The company is a state-owned enterprise under the jurisdiction of TAT, which is also its sole shareholder.

Thailand Elite Card holders are granted a whole host of benefits, including five years of multi-entry visa, 24/7 concierge services and other exclusive services. The cost of an Elite visa can range from 600,000 baht to 1 million baht.