Pink Economy; A new Thai “Pink Opportunity”

The Pink Economy, or investment in LGBTQIA2S+ consumers, is a fast-growing trend worldwide, including in Thailand, which may become an important opportunity to stimulate the economy and attract investment in the future. Today, everyone will get to know Pink Economy and ACU PAY will talk about the background and benefits as well as future trends.

What is a Pink Economy?

Pink Economy refers to the investment and expenditure of LGBTQIA2S+ consumers. The word ‘Pink’ was first used during the Nazi German War, the symbol ‘Pink Triangle’ was used to indicate that the soldier was gay, which was initially a symbol of bullying and insult. Later, this symbol became a symbol of the pride and struggle for the human rights of LGBTQIA2S+ groups.

During 1970-1980, businessmen became interested in investing in LGBTQIA2S+ because they believed that purchasing power was higher than those of the opposite sex. This is why the investment is called the Pink Economy. The supporting information is that LGBTQIA2S+ have no family burden, so they earn more money than families with children.

The Economic Benefits of the Pink Economy

Investment in the Pink Economy improves Thailand’s image of being friendly and open to gender diversity, which obviously has a good impact on the economy. Pride Parade in many countries has proven to be a major source of income. London and Los Angeles used to record a lot of money in circulation during Pride. Meanwhile, Brighton had a high income during the weekend of the event.

The acceptance and support for LGBTQIA2S+ groups will enhance Thailand’s image, making it a destination that attracts more tourists and investors. Thailand has the potential to be a second home or paradise for LGBTQIA2S+, which will bring great economic and investment opportunities.

Trends and Opportunities in Thailand

Thailand’s openness and awareness of the importance of LGBTQIA2S+ reflects the rapid growth of Pride Month in recent years and the rise of the popular Y series entertainment industry both domestically and internationally.

The penetration of the Pink Economy market in Thailand is a significant opportunity:

High purchasing power: LGBTQIA2S+ groups usually have more money to spend on various things than family groups because they do not have a high-cost burden.
Specific demand: This group often has specific needs for health care, beauty, and services that meet specific needs.
Support from the government and private sector: Pride Parade and legal support such as equal marriage will also help boost the image and attract investors’ interest.

Economic Impact

Not only is Pink Economy limited to the entertainment or tourism industry, but it can also benefit other industries. For example, in healthcare, beauty, and pet care, LGBTQIA2S+ people are at the forefront of investment in health and beauty, as well as sex change surgery. Also, LGBTQIA2S+ who have a family usually invest in pets.

Investment in the Pink Economy itself can also benefit the economy in many other ways, such as:

Generate income: Pride and related events can attract tourists and generate revenue for local businesses.
An increase in investment: The launch of LGBTQIA2S+-compliant products and services will boost domestic and international investment.

Employment creation: The growth of LGBTQIA2S+-focused businesses will result in new job creation and promotion of local development.

The Future Direction

For Thailand, the development and support of the Pink Economy will lead to sustainable economic growth, government support, private investment, and innovation to meet the needs of LGBTQIA2S+ will strengthen the Pink Economy.

Investment in the Pink Economy is an important opportunity for Thailand to stimulate the economy. Opening and supporting LGBTQIA2S+ can help generate more revenue, attract investment, and create new jobs. Thailand can use this potential to strengthen its economy and become a leader in the global Pink Economy.

References from
sanook / thairath / bangkokbiznews / lgbt-capital