Former Prime Minister Thaksin Shinawatra recently proposed a golden visa scheme aimed at attracting wealthy foreigners to Thailand, along with a recommendation to increase passenger service fees through Airports of Thailand Plc (AOT) as measures to stimulate the nation’s struggling economy.

Speaking at the “Unlocking Thailand’s Future” conference hosted by Mcot Plc, Thaksin suggested that a golden visa could entice approximately 600,000 foreigners willing to invest $1 million each.

This initiative, according to him, could not only enhance the real estate market but also generate funds to support education for Thai citizens.

Thaksin remarked, "It will drive GDP growth, reduce public debt, spur domestic consumption.

It’s new, fresh money, and so worth pursuing." Despite not holding any formal position within the current government, Thaksin maintains considerable influence through the ruling Pheu Thai Party, led by his daughter Paetongtarn Shinawatra.

His comments follow her recent suspension by the Constitutional Court amid an ethics violation case related to a border dispute.

While Thaksin faces his own legal issues, including a royal defamation case set for ruling next month, he expressed confidence in his eventual acquittal.

Thailand's economic growth has averaged less than 2% over the last decade, falling behind other major Southeast Asian nations.

The country's GDP is forecast to grow by 1.3% to 2.3% in 2025, hindered by substantial household debt and a slowdown in tourist arrivals.

Additionally, Thailand grapples with potential tariffs of up to 36% from the United States, its largest export market.

Thaksin further suggested that AOT could contribute to economic growth by raising passenger service fees by as much as 300 baht (approximately $9.22), which could potentially yield an additional 40 billion baht annually.

Such an increase would represent a 40% rise from current levels.

He emphasized that AOT should function as an economic catalyst encompassing aviation services, cargo operations, and aircraft maintenance, which could drive further national development.

In response to the challenging tourism landscape, Thaksin highlighted that the proceeds from increased fees could be dedicated to enhancing Thailand's six main airports and further establishing the country as Southeast Asia’s aviation hub.

On the stock market, AOT shares surged by 11% following reports of the proposed increases in service charges, landing, and parking fees, alongside the initiation of transit and transfer fees.

The Tourism Authority of Thailand (TAT) recently adjusted its forecast for foreign tourist arrivals in 2025 down to 35 million from an earlier estimate of 40 million, as the number of Chinese visitors has fallen short of expectations.

In the first half of 2025, only 2.3 million Chinese tourists visited Thailand, compared to 3.4 million during the same period in the previous year, as reported by the Ministry of Tourism and Sports.

Safety concerns, highlighted by the kidnapping of a Chinese actor to Myanmar through Thailand, may have contributed to this decline.

In an effort to restore confidence among potential Chinese travelers, Thaksin proposed offering personal insurance for tourists visiting from China.