Thailand Elite visa journey card program nonetheless within the purple after 16 years
The Thailand Elite Visa Travel Card was first introduced 16 years ago by then Prime Minister Thaksin Shinawatra. Thailand Privilege Card Co. (TPC) has never made a profit and has accumulated baht 240 million in debt this fiscal year.
- If the company can add another 2,600 new members this year, it can be in the black.
- Those who have the elite visa travel card won’t travel anyway because of COVID-19.
- The Thai Tourism Authority is working with the Thailand Privilege Card to offer more elite bonuses in the future.
The TPC says the company will be in the black this year if 2,600 new members can be found for the Thailand Elite Visa Travel Card. Currently the largest number of Asian members are Chinese. In Europe, this distinction belongs to the United Kingdom.
Most owners are delaying a visit to Thailand due to bureaucratic requirements and a new wave of infections, especially in Bangkok. The Thailand Privilege Card Co. says sales have increased 93 percent in the past 12 months. There were 2,552 newly enrolled members for a grand total of 13,564.
The Elite Visa grants a multiple-entry visa from 5 to 20 years in exchange for an initial cash payment from 600,000 Baht to over 2 million Baht, depending on which option is selected from ten alternatives. According to TPC, there are currently two main markets. Some foreigners over 50 years of age receive the elite visa as an alternative to one-year retirement visas and stay extensions, for which general health insurance is increasingly required in addition to COVID-specific coverage.