Former prime minister Thaksin Shinawatra has proposed the launch of a golden visa programme aimed at attracting wealthy foreigners to become long-term residents in Thailand, as part of broader efforts to stimulate the country’s sluggish economy.
Speaking at the “Unlocking Thailand’s Future” conference hosted by Mcot Plc on Thursday evening, Thaksin also urged Airports of Thailand Plc (AOT) to raise its passenger service charges, arguing that both measures could help drive growth.
Thaksin said the golden visa scheme has the potential to generate revenue equivalent to Thailand’s US$500 billion economy.
Under the proposal, Thailand would aim to attract 600,000 foreign residents, each required to deposit US$1 million in exchange for long-term visa privileges and property ownership rights. He added that proceeds from the scheme could be used to support the country’s real estate sector and fund education for Thai citizens.
“It will drive GDP growth, reduce public debt, spur domestic consumption,” Thaksin said. “It’s new, fresh money, and so worth pursuing.”
Although he holds no formal position in government, Thaksin continues to exert influence through the ruling Pheu Thai Party, led by his daughter, Paetongtarn Shinawatra.
His remarks come as the Constitutional Court has temporarily suspended Paetongtarn from her duties as prime minister while it considers an alleged ethics violation related to her handling of a border dispute.
Thaksin, meanwhile, is facing his own legal challenges, including a royal defamation case from over a decade ago. A verdict is expected next month. During the seminar, he expressed confidence in a favourable outcome.
Thailand’s economy, heavily reliant on exports and tourism, has grown at an average rate of less than 2% annually over the past decade, lagging behind other major Southeast Asian economies.
Growth projections for 2025 range from 1.3% to 2.3%, constrained by high household debt and a slowdown in tourist arrivals. The country also faces potential export headwinds, including the risk of a 36% tariff from the United States, its largest trading partner.
As part of efforts to boost revenue, Thaksin suggested that AOT increase its passenger service charges by up to 300 baht (US$9.22) per traveller. The proposed hike, which represents a roughly 40% increase, could generate an estimated 40 billion baht in additional annual revenue.
“AOT should be an economic driver in terms of being an aviation hub, cargo centre, and aircraft maintenance centre, which can drive the economy much further,” he said.
He noted that the additional funds could be used to upgrade AOT’s six airports and support the country’s ambition to become Southeast Asia’s premier aviation hub. The initiative would also strengthen related sectors such as air cargo and maintenance services.
AOT shares surged 11% on Thursday, closing at their highest level since March, following a report by local newspaper Kaohoon that the company is planning to raise passenger service fees, as well as landing, parking, transit, and transfer charges.
The proposal comes amid mounting pressure to revive the tourism sector. Earlier this week, the Tourism Authority of Thailand (TAT) revised its forecast for foreign tourist arrivals in 2025, lowering the target from 40 million to 35 million visitors. The adjustment reflects a shortfall in the number of Chinese travellers, a key market for Thailand.
According to the Ministry of Tourism and Sports, 2.3 million Chinese visitors arrived in the first half of 2025, down from 3.4 million during the same period last year.
Addressing rising concerns over tourist safety, Thaksin referenced the recent case of a Chinese actor reportedly abducted to Myanmar via Thailand. He pledged to personally insure Chinese visitors if necessary, in a bid to restore their confidence in the country.
