Thailand is predicted to experience a $2bn (£1.58bn) boost to its tourism industry after the country passed a marriage equality bill that is two months away from being enacted.

It has become the first country in Southeast Asia and the third in Asia, following Taiwan and Nepal, to recognise same-sex marriage after the king gave approval of the marriage equality bill passed by parliament earlier this year.

The new law amends Thailand’s Civil and Commercial Code, replacing gender-specific terms like “men and women” with gender-neutral terms like “individual”.

The law was endorsed by King Maha Vajiralongkorn in September and will take effect in late January 2025.

Travel company Agoda, founded in Phuket, Thailand, has predicted that within two years of the law taking effect, the country will see an increase in tourism revenues by nearly US$2bn annually.

Agoda forecasts an additional four million international visitors per year to Thailand.

The company’s study on the economic impact of the law on the tourism industry says that the visitor influx could support an additional 152,000 full-time jobs and lift Thailand’s GDP by 0.3 per cent.

Darren Burn, the CEO and founder of luxury LGBTQ+ travel agency Out Of Office and travel guide Travel Gay told The Independent: “Thailand has long been one of the most popular destinations on Travel Gay with growing interest year on year. It’s always been seen as a welcoming destination amongst the community and the introduction of marriage equality will only improve that.”

While Thailand has long held a reputation for being an accepting and inclusive country, with Bangkok having a large LGBT+ community and scene, the conservative and traditional side of Thai society and government has hindered the equality law being passed.

The new law will enable same-sex couples to marry and receive full legal, financial and medical rights.

Agoda also predicts that Thailand will become a regional hub for LGBTQ+ couples from neighbouring countries who are seeking to celebrate their union.

Burn said that Out Of Office has helped couples plan symbolic same-sex weddings in places like Chiang Mai, and hopes that traditional ceremonies that vary by region can be adapted to accommodate legal same-sex weddings.

“More and more LGBTQ+ couples are wanting to get married abroad – especially our clients from the US,” Burn said. “There are still limited options where legal marriage is open to same-sex couples and so Thailand will undoubtedly see a relative influx of travellers because of this.”

Henry Koh, executive director of the International Lesbian, Gay, Bisexual, Trans and Intersex Association (ILGA) Asia said: “The unfortunate reality is that more than half of LGBTQIA+ travellers from the Asia Pacific region have experienced some sort of discrimination while travelling, making safety a key consideration for them as they travel.

“By enacting this pivotal legislative change, Thailand is establishing itself as a secure and preferred destination that can provide them with the otherwise unavailable opportunity to conduct a destination wedding, for example.”

Timothy Hughes, vice president of corporate development at Agoda and executive sponsor for Agoda Pride said: “While already a popular destination for LGBTQIA+ travellers, this move is expected to further solidify Thailand’s reputation as an inclusive holiday option.

“At Agoda, we are excited to see the substantive economic impact that the influx of travellers will have on local businesses and communities.”

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