Thai longstay programme revives
Thailand’s long-stay programme – initiated under the former Prime Minister Thaksin Shinawatra’s government – is here to stay, and expects to turn a profit this year, its chief has said.
Bangkok Post reported that the Chief Executive of Thai Longstay Piyapat Suban Na Ayudhaya as saying that the loss-making company had restructured.
Established in September 2002, with the Tourism Authority of Thailand (TAT) as its major shareholder, TLM had suffered losses. The report said as of July last year, the company had signed up only 130 members. Scandinavians account for 70% of the members, with the rest from the Middle East and Japan.
According to Piyapat, in the first quarter the company had signed up 4,503 members. The company aims to reach over 16,000 members in four years’ time.
The company offers four types of membership which offers one-year multiple re-entry visa with fast track for immigration procedures as well as discounts and privileges.
“If the company succeeds in achieving an average net profit of Bt20 million each year during the period, we are fully confident we will be able to clear accumulated loss at the end of 2011,” she was quoted saying.
According to a company survey, 3,000 members of TLM were found to have bought residences in Thailand valued at more than Bt5 billion each.
Comments are closed.