BANGKOK — Prime Minister Paetongtarn Shinawatra announced enhanced measures to strengthen Thailand’s creative industries, particularly the film sector, as part of a broader strategy to diversify economic ties with the United States. Speaking at the “Thailand: Opportunities, Hope, and Reality” forum on November 21, 2024, she emphasized the need for adaptability in light of shifting global trade dynamics, including potential scrutiny over Thailand’s trade surplus with the US.
Highlighting the nation’s success as a filming destination, the Prime Minister unveiled plans to increase cash rebates for international film productions from 20% to 30%, with no investment ceiling. The changes aim to capitalize on the growing demand for Thailand as a global filming hub and are expected to boost annual revenue from foreign productions from $190 million in 2023 to an estimated $290 million in 2025.
Expanding the Filming Ecosystem
In 2023, over 450 films from 40 countries were shot in Thailand, including 34 American productions, generating significant revenue and fostering local job creation. The proposed incentives include tiered rebates for investments starting at 50 million baht, with additional bonuses for filming in secondary cities, post-production work, and hiring Thai personnel.
The policy marks a shift from previous caps, removing limits on qualifying expenditures to encourage larger-scale projects. The Ministry of Tourism and Sports’ Thailand Film Office has outlined plans to implement the revised scheme by early 2025, following reviews by the National Film and Video Committee and Cabinet approval.
Global Outreach and Competitiveness
Thailand’s participation in the 2024 American Film Market in Las Vegas underscored the country’s readiness to host international productions. By October 2024, US filmmakers had already contributed 780 million baht in revenue. High-profile productions such as The Creator and The Sympathizer have further cemented Thailand’s reputation as a premier filming location.
With similar incentives offered globally, including tax rebates in France and Hungary and cash-back schemes in South Korea and Greece, Thailand’s updated measures aim to solidify its position as a competitive and culturally rich destination for filmmakers.
