Thailand eyes 8 trillion baht revenue in 2027 from soft power

Illustrative photo - The Nation/ANN

BANGKOK: The Thailand Creative Content Agency (THACCA) will host the country's first soft power expo next week to showcase the economic potential of Thai soft power in driving the country to become a leader in the creative economy.

The event, titled "THACCA SPLASH - Soft Power Forum 2024," will be held from June 28-30 at the Queen Sirikit National Convention Centre in Bangkok.

Surapong Suebwonglee, deputy chairman of the National Soft Power Strategy Committee, said on Thursday (June 20) that the event will be joined by soft power-related agencies, the Thai business sector, and international partners including South Korea’s webtoon and Japanese animation studios.

He said the exhibition, which will be spread over 10,000 square metres, will highlight Thailand's 11 creative economy industries, namely books, art, fashion, design, music, festivals, travel, sport, film (drama and series), gaming, and food.

The event aims to fulfil three main goals: To raise awareness of soft power and its importance on the international stage; to promote the development of soft power entrepreneurs and increase their competitiveness in collaboration with related agencies; and to encourage cooperation among governments, private sectors, and related organisations in South-East Asian countries and international alliances to drive Thai soft power to global markets.

THACCA expects the three-day event will be joined by over 100,000 participants.

Surapong added that for the current fiscal year, the National Soft Power Strategy Committee has asked for a budget of 2 billion baht to start soft power promotion campaigns.

These include the one family one soft power initiative, culinary training programmes, and pushing Muay Thai to be an elective subject at Bangkok’s schools.

However, he estimated that the committee will be granted only half of what it has asked for the rest of the fiscal year, which has only 3 months left to run.

Surapong said the government has set the target for soft power and the creative industry to generate 8 trillion baht in the economy by 2027.

Half of this target will come from the estimated 20 million personnel in soft power-related industries, who will earn an average of 200,000 baht per person per year.

The other half will come from revenue from tourism, Thai food, films, sports, fashions, and festivals, he added.

“We also aim to increase Thai restaurants overseas from the current 30,000 to 100,000 in big cities around the world, as well as increase gymnasiums for Muay Thai overseas from the current 40,000 to also 100,000,” he said. - The Nation/ANN

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