Thailand’s Bold Move: Will Thaksin’s New Golden Visa Scheme and Airport Fee Hike Skyrocket the Economy?

Friday, July 18, 2025

In a recent address at the “Unlocking Thailand’s Future” conference held in Bangkok on July 17, former Thai Prime Minister Thaksin Shinawatra presented bold ideas aimed at invigorating Thailand’s economy. One of his primary suggestions was the establishment of a golden visa scheme designed to attract wealthy foreigners to Thailand, offering them long-term residency. This proposal, according to Thaksin, could potentially stimulate the country’s economy and provide a much-needed boost to various sectors, including real estate and education. Additionally, he recommended that Airports of Thailand increase passenger service fees, a move that could contribute to economic growth amid current financial challenges.

The Golden Visa Proposal: A Path to Economic Growth

Thaksin outlined the potential benefits of a golden visa program, which would invite affluent individuals from around the world to make significant investments in Thailand. His vision involved offering residency to 600,000 individuals, each required to deposit US$1 million as part of the visa application process. In exchange for their investment, these foreigners would gain the right to purchase property in Thailand, an opportunity that would likely revitalize the country’s real estate market.

The proposed influx of wealth from the golden visa scheme was described by Thaksin as a means to inject “new, fresh money” into Thailand’s economy. He emphasized that such an initiative could have a far-reaching impact, driving GDP growth, reducing public debt, and stimulating domestic consumption. By attracting foreign capital, Thailand could enhance its economic standing while fostering long-term investments that would benefit both locals and expatriates alike.

Furthermore, Thaksin suggested that the funds raised through this initiative could be allocated toward improving education for Thai citizens. The idea was to channel the wealth from foreign investments directly into the country’s educational system, offering greater opportunities for Thai people while simultaneously addressing the nation’s economic concerns.

The Role of Airports of Thailand: A Key Player in Economic Revitalization

In addition to the golden visa proposal, Thaksin called for an increase in passenger service fees by Airports of Thailand. He argued that this would serve as an additional measure to boost the sluggish economy. While the notion of raising fees may seem counterintuitive during a time when the aviation sector is still recovering from the pandemic, Thaksin emphasized that the potential economic benefits far outweighed the drawbacks.

The proposal aimed at increasing service fees would contribute to greater revenue generation for the country’s airports. This, in turn, would enable more investments in infrastructure, tourism, and other sectors reliant on air travel. By raising passenger fees, Thailand could ensure that its airports remain competitive while generating additional funds to support the country’s economic recovery.

The idea of increasing fees also reflects a larger economic strategy: focusing on both attracting foreign capital and utilizing existing resources to stimulate growth. With Thailand’s tourism sector being a critical contributor to the national economy, any increase in revenue from passenger fees could directly enhance the overall travel experience, thereby attracting more international visitors.

Thaksin’s Influence on Thailand’s Political Landscape

Despite no longer holding an official governmental title, Thaksin Shinawatra continues to wield significant influence in Thai politics. His presence is particularly felt through the Pheu Thai Party, which is currently led by his daughter, Paetongtarn Shinawatra. Thaksin’s political clout remains substantial, and his ideas and recommendations hold weight within the current administration.

Although Thaksin has been absent from formal political roles, his influence on key policy decisions is still considerable. This was made clear in his recent speech, which suggested that his economic vision could play a role in shaping the country’s future. His continued involvement in Thailand’s political and economic spheres indicates that his ideas continue to resonate with policymakers.

This influence remains despite ongoing legal challenges faced by both Thaksin and his daughter. Recently, the Constitutional Court suspended Paetongtarn from her position as prime minister pending a ruling on an alleged ethics violation related to her handling of a border dispute. This controversy underscores the complex political landscape in Thailand, where legal and ethical challenges often intersect with governance.

Thaksin’s Legal Troubles: A Cloud Over His Economic Vision

While Thaksin’s economic ideas continue to capture attention, his own legal issues have also remained a significant part of his public life. He is currently embroiled in a decade-old royal defamation case, which is set to be ruled on in August. This case has the potential to further complicate his standing in both political and public arenas.

Despite these legal challenges, Thaksin remains confident in his innocence. He expressed his belief that he would be exonerated when the court delivers its verdict. This optimism was conveyed during his speech at the conference, where he remained focused on advocating for economic reforms and policy initiatives, rather than allowing his legal troubles to dominate his public image.

Thaksin’s confidence in his legal standing reflects his broader belief in his ability to navigate the political and legal systems. His persistence in the face of adversity has shaped his legacy as a political figure, and it continues to influence his actions and statements, even as his legal battles unfold.

A Vision for Thailand’s Future

Thaksin’s recent proposals reflect a clear vision for Thailand’s future: one where foreign investments, particularly through the golden visa scheme, can help boost economic activity, create new opportunities, and address domestic challenges. His emphasis on real estate investment and the potential for educational reform underscores his belief in the importance of sustainable economic development. At the same time, his suggestion for higher passenger service fees reveals a pragmatic approach to utilizing Thailand’s existing infrastructure to support future growth.

The golden visa proposal, in particular, offers a pathway for Thailand to capitalize on global wealth. By attracting high-net-worth individuals, Thailand could diversify its economic base and secure long-term investments that would benefit both locals and expatriates. Thaksin’s approach, while ambitious, aligns with global trends where countries seek to attract foreign capital through residency schemes, thereby stimulating growth in critical sectors.

However, as with all bold proposals, the success of such initiatives will depend on their implementation and acceptance by various stakeholders, including the Thai government, the public, and the international community. Thaksin’s ideas may spark debate, but they also offer a glimpse into a potential future for Thailand—one where innovation and strategic investments are key drivers of economic success.

Conclusion: Thaksin’s Enduring Influence and Economic Ideas

In conclusion, Thaksin Shinawatra’s recent speech highlights his ongoing role in shaping Thailand’s political and economic landscape. His golden visa proposal and suggestion for increased airport service fees present significant opportunities for growth, yet they also raise questions about feasibility and public support. Thaksin’s influence, despite his lack of formal governmental roles, continues to resonate in Thailand’s policy discussions. As the country faces both economic challenges and political controversies, the ideas presented by Thaksin offer potential solutions that may guide Thailand toward a more prosperous future.