Thai Film/Movie Industry Statistics

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Thailand rolls out red carpet with bigger rebates for filmmakers

 Puntid TantivangphaisalPublished: 17:34, 18 December 2024| Updated: 17:34, 18 December 2024

The Thail Cabinet approved an increase in the rebate offered to foreign film productions, raising it to a range of 15 to 30% to attract more international filmmakers to shoot in the country.

This decision, announced by Jirayu Huangsap, spokesperson for the Prime Minister’s Office, is part of a revised strategy to bolster Thailand’s appeal as a filming destination. The primary incentive stands at 15% for an investment of at least 50 million baht in the country while additional benefits can reach up to another 15%, as proposed by the Ministry of Tourism and Sports.

For investments exceeding 100 million baht, the primary rebate increases to 20%, with total incentives not surpassing 10%. This new scheme is set to take effect from January 1, 2025.

The funds for these rebates will come from the regular budget of the Department of Tourism. Should there be a shortfall, the Ministry of Tourism and Sports will seek additional funding from the annual central budget allocation.

The Cabinet meeting also decided to waive the cap on the maximum rebate per production, which was previously capped at 150 million baht. This change is aimed at accommodating the increasing trend of large-budget international film productions choosing Thailand as a filming location. By doing so, Thailand hopes to enhance its competitiveness in the global film industry.

“This review of measures will significantly impact the revival and stimulation of the Thai economy, spreading income to secondary cities, increasing employment for Thai people, and boosting domestic spending. It directly generates income for communities and citizens, promoting Thailand’s soft power abroad.”

Over the past seven years, from 2017 to 2024, 72 films have participated in the foreign film promotion measures in Thailand, generating a revenue of 16,102 million baht.

Between 2017 and 2022, 52 films have been reimbursed, contributing 9,669 million baht in revenue, with a total rebate of 1,534 million baht. For the years 2023 to 2024, 20 films are currently being shot, with financial documentation under review, expected to generate 6,433 million baht in revenue and approximately 1,310 million baht in rebates.

Through these measures, the government anticipates an additional revenue collection of 20%.

Thailand’s strategic location, diverse scenery, and rich cultural heritage make it an attractive setting for filmmakers worldwide. The increase in rebates is seen as an effort to further capitalise on these strengths, encouraging more international production houses to choose Thailand for their projects.

By doing so, the country not only benefits from the direct economic impact of film production activities but also gains international exposure, potentially boosting its tourism sector.

The government hopes that the revised rebate measures will not only attract more films but also increase local employment and foster the growth of the local film industry.

By creating a more competitive environment for filmmakers, Thailand aims to position itself as a leading destination for film production in Asia.

This move is also expected to stimulate related sectors, such as hospitality and transportation, thereby creating a ripple effect that benefits the broader economy, reported KhaoSod.