The average age of wealthy Chinese expats in Thailand is falling fast, according to the firm that handles Elite residency visas in China.
Rui Guo, president of Thai Jiaranai Group, said the average age of Elite visa buyers is now lower than 40, compared to over 50 in the past.
Chinese nationals are by far the biggest buyers, accounting for 7,350 of some 20,000 Elite visas approved so far.
Thai Jiaranai Group is the official seller of Thailand Elite residence program in China. The firm also operates Chinese online media in Thailand while offering consultancy advice to Thai firms seeking business opportunities in China.
Rui Guo was speaking during a reception party held for Elite visa holders at S31 Sukhumvit Hotel on Thursday night. He said the number of Chinese expats holding the visas has soared several-fold in the past five years. And the fact that they were getting younger showed the new generation of high-income Chinese are attracted to Thailand, he added.
The Thailand Elite Residence Programme offers four different visas for multi-entry stays of between five and 20 years.
Aimed at luring foreign investment to boost Thailand’s economy, the program is managed by the Tourism Ministry’s Thailand Privilege Card Company (TPC).
Chinese Elite visa applicants are drawn to Thailand by the food and pleasant environment, said Rui Guo. They liked the programme because they did not have to renew visas often, he added.
Thailand’s excellent geopolitical position made it attractive for both travel and business, said Senator Weerasak Kowsurat, in his welcome speech at the event.
Weerasak, a former tourism minister, said Thailand was also luring wealthy Chinese with its international food and beautiful tourist destinations.
Fears the Elite visa is a gateway for wealthy criminals were played down by Foreign Ministry representatives, who said all applicants are checked to ensure they have honest income to benefit the Thai economy during their stay.
Thousands of holders were helping the country recover from the Covid-19 crisis by spending on tourism, sports, spars and other activities across Thailand, said Pornthep Pantanapat, deputy managing director of TPC.
None of those granted Elite visas in the past 20 years had been arrested for serious crime, he added.
Source: The Nation