Thailand being promoted as the ideal home for polysexual people

This firm belief was reinforced on Sunday, when Borderless.lgbt, the world’s first dedicated health and wellness cloud, announced the launch of “Pink Plus Economy”, a new initiative focusing on an ecosystem to support LGBTQIA+ communities in Thailand in terms of living, family planning and retirement.

The move, supported by Thailand Privilege, a state-owned enterprise dedicated to long-term visas, was expected to create new opportunities and developments in various LGBTQIA+-related business sectors. 

The group’s confidence in Thailand stems from its National Legislative Assembly’s recent legalisation of same-sex marriage, as well as upcoming policies to support LGBTQIA family planning in Thailand. 

The legislation is awaiting senators’ votes. If approved, Thailand will become the third nation in Asia to allow same-sex marriage, following Taiwan and Nepal. 

Wei Siang Yu, chairman and founder of Borderless Healthcare Group, expressed his excitement about the upcoming Thailand same-sex marriage bill. He pointed out that the bill will position the kingdom as a major centre for global DE&I (Diversity, Equity, and Inclusion) initiatives. 

“Thailand is perfectly suited to support more than 200 million LGBTQIA+ individuals within its proximity to wed, live, play, innovate, plan a family and retire in the country,” he said. 

He explained that the Pink Plus Economy has evolved from the Pink Economy, with new developments in inclusive medical tourism, retirement living, family planning support, pink tech incubation, and pink film virtual production in Thailand.

“Borderless.lgbt, will offer a series of “Pink Plus” membership packages with multi-merchant offerings including Thailand Privilege card, state-of-the-art immersive telemedicine platform with renowned medical experts, shopping vouchers, retirement living programmes, pink tech innovation workshops, family wellness support, dedicated financial planning services, home buying/leasing support, and exclusive resort staycations, which will be rolled out for distribution via global resellers,” he said. 

Yu encouraged all Thais and international LGBTQIA+ entrepreneurs to join the group’s supportive Pink Plus Economy programmes, noting that the group expects to be the central platform for working LBGTQIA+ around the world while also facilitating their access to better work-life balance here in Thailand. 

According to Lee Badgett, chief economist of the Koppa LGBTI+ Economic Power Lab, who attended the launch ceremony online, several reports and surveys show that global economic demographic and policy trends favour LGBTQIA+. 

She noted that the LGBT market is expanding rapidly. More young people today identify as LGBT than ever before, she said, citing the trend in Gallop’s LGBT identification by Generations of US Adults, which demonstrated that over a 10-year period, one in 10 of the millennial generation identified as LGBT beginning in 2021 and continuing through the most recent survey in 2023.

Meanwhile, the survey shows that the number of Gen Z, the youngest people born between 1997 and 2012, has increased by one-fifth. By 2023, more than one in every five people in Gen Z identify as LGBT.

Other surveys have revealed the gender revolution, with 5% of the youngest people in the US identifying as transgender or non binary. Ipsos data collected in 30 countries revealed a nearly identical pattern. According to the findings, one in every five Gen Zers and one in every 10 millennials identify as LGBT. 

“This is a remarkably consistent pattern across the globe. Clearly, the world’s demographics are changing dramatically. What does this mean for business, and why should you be concerned about this significant demographic change? It’s because more of your clients will be LGBT,” she explained.

She indicated that LGBT customers and tourists will look for ads that reflect them. They are estimated to account for nearly $4 trillion in global consumer spending. In addition, an increasing number of employees hired by Thai and other businesses will identify as LGBT. The trend is the same for investors. More investors will be LGBT.

“Demographics will drive this big economic wave over time, especially as these younger generations move forward. But there is more that I would like to discuss. The world remains a complicated place for LGBT people. Not all places are alike. Not every place is accepting,” she pointed out, noting that there is a lot of variation in laws and policies around the world, with approximately 65% of countries still criminalising homosexuality.

According to the Williams Institute’s Global Acceptance Index at the University of California Los Angeles, some places around the world do not accept LGBT people. 

However, the fact that there is variation creates a significant opportunity for the Pink Economy, which many people, including Borderless.lgbt, are working to build.

Based on the index, Thailand is one of Asia’s most accepting countries, trailing only Australia.

“So, if we are looking at the opportunities for the Asian, then the “Pink Plus economy is clearly the way to go in Thailand,” she added, wishing the group the best of success as it launches its initiative in the country. 

Manatase Annawat, president of Thailand Privilege Card, expressed his full support for being a part of Thailand’s journey to becoming a global DE&I hub. Living in Thailand now allows for an inclusive lifestyle, wellness, and innovation. 

“As for the Thailand Privilege Card, we have a long history of supporting the LGBTQIA+ community around the world. Our programme allows legitimate couples and families to become members. We also have a lot of activities that support the lifestyle and their living in Thailand, which ensure that their stay will be enjoyable, so we can really promote Thailand as a destination or retirement hub for LGBTQIA+ people. For example, the benefits and privileges we have are divided into five categories: stay, travel, leisure, health and wellness, and wealth,” he said. 

Meanwhile, as part of the effort to catalyse pink innovation in Thailand, Borderless.lgbt has begun soliciting inclusive ideas in health tech, artificial intelligence, fintech, retirement living concepts, filmmaking, and new business ideas as Thailand transitions into a DE&I hub. 

Yu, chairman and founder of Borderless Healthcare Group, stated that a DE&I-focused venue has already been established in Bangkok’s heritage precinct, Yaowarat, as a “Pink Incubator” to support, mentor, and network inclusive startups.

Furthermore, a high-tech call centre with a soundproof concierge suite has been established in the heart of Bangkok’s trendiest neighbourhood, Thonglor, to serve “Pink Plus” members. 

In addition, Borderless.lgbt will launch an AI-enabled avatar to answer client enquiries in multiple languages. Potential merchants and resellers of the “Pink Plus” package who want to learn more about the opportunities in the “Pink Plus” economy will soon be able to chat with this avatar without any language barriers.