SET-listed Central Pattana (CPN) expects to attract a tremendous amount of traffic to its shopping centres during this year's Pride events, with the aim of helping Thailand become the leading LGBTQIAN+ destination.
Nattakit Tangpoonsinthana, chief marketing officer of CPN, a retail and property developer, said the purchasing power and financial potential of this segment, dubbed the Rainbow Economy, has been significant for the group.
"According to the Tourism Authority of Thailand, this segment spends 40% more than the average expenditure of tourists in general, with preferences for luxurious lifestyles, and a high level of brand loyalty," said Mr Nattakit.
Over the past five years, the company has organised various Pride events, with the events getting larger year by year.
This year, CPN is hosting Thailand's Pride Celebration 2024 under the theme "Pride For All" throughout June at 24 of its shopping centres nationwide, such as Central stores in Phuket, Samui, Pattaya, Chiang Mai and Khon Kaen, he said.
Last year, more than 160,000 tourists joined Pride festivities at CentralWorld, while 520,000 people visited Central malls nationwide during that period.
He said the company expects to attract 200,000 participants to the CentralWorld area for the Bangkok Pride Parade 2024 event on June 1.
The company also expects to welcome more than 700,000 visitors at the 24 Central stores that are promoting the campaign.
Mr Nattakit said these events would help boost the economy by attracting more foreign visitors to Thailand.
The Pride Parade and Pride Month activities are taking place at a significant time for the LGBTQIAN+ community in Thailand, which is celebrating the recent progress of the country's same-sex marriage bill.
After gaining approval from the House of Representatives on March 27, the Upper House is set to vote on the bill on June 18-19, said Chumaporn Taengkliang, an LGBTQ activist and co-founder of Bangkok Pride parade.
If the senators give the bill the green light, it would take 120 days after being announced in the Royal Gazette for the law to take effect, which could be within October this year, she said.
Thailand would become the first country in Southeast Asia to allow same-sex marriage, and the third in Asia, following Taiwan and Nepal, said Ms Chumaporn, who is also spokesperson of the extraordinary commitee for the same-sex marriage bill.
"Other countries might not have such a great opportunity to celebrate same-sex marriage. This is the opportunity for Thailand to share this success," said Renaud Meyer, resident representative of the UN Development Programme.
To push the agenda related to gender equality, it needs collaboration from many agencies, including the government, private sector and civil society, Mr Meyer said.
"UN is counting on Thailand, as part of global community, to be responsible in promoting human rights to other societies around the world," he said.
Mr Nattakit said traffic at its malls in Bangkok and tourism cities in the second and third quarters this year is expected to exceed the level recorded in 2019.