The potential $15.1 billion market in Thailand might be opened up by the initiative to legalize gambling, which would bring new dynamics to the gaming sector in the area. The CLSA analysts have concluded that the casino concessionaires in Macau face "more opportunities than threats" due to this noteworthy development.
The first entertainment complex in Thailand might open its doors by 2029, according to a 100-page study by analysts Jeffrey Kiang, Naphat Chantaraserekul, and Leo Pan. This bodes well for the country's budding gaming industry, which is expected to draw significant investment.
According to casino tutorials and news sites, the gambling business in Macau is projected to remain resilient despite the possible inflow of Chinese visitors. Chinese visitors represent a vital demographic in Thailand's post-COVID tourism rebound. This is due to the essential differences between the tourism offered in Macau and Thailand.
Thailand Takes on Macau
Macau, with its long history of casinos and distinct culture, provides a welcome change from Thailand's burgeoning sector. According to the Bank of Thailand, tourism in Thailand is expected to reach 35.5 million in 2024, just 11% lower than in 2019. The market is well-known for its economical and high-quality goods and has rebounded quickly from the epidemic.
It is believed that China and India, which sent 33% of all tourists to Thailand in 2019, will be the main drivers of development in the future. China and India have enormous untapped potential due to their relatively low travel penetration rates (0.8 and 0.1 percent, respectively), significantly lower than other Asian nations (1.4 to 14.5 percent).
Experts predict that the legal gambling industry in Thailand will not significantly affect Macau's tourism market, even though gaming concessionaires in Macau may see more business from Thailand.
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