The Thailand Elite visa travel card was first introduced by then-Prime Minister Thaksin Shinawatra 16 years ago. The Thailand Privilege Card Co. (TPC) has never made a profit and has accumulated debts of 240 million baht this fiscal year.
- If the company can enroll another 2,600 new members this year, it can roll over into the black.
- Those who do have the Elite visa travel card are not traveling anyway because of COVID-19.
- The Tourism Authority of Thailand is working with Thailand Privilege Card to offer more Elite bonuses in future.
The TPC says that the company will be in the black this current year if 2,600 new members can be found for the Thailand Elite visa travel card. The largest current number of Asian members are Chinese. In Europe, that distinction belongs to the UK.
Most holders are delaying a visit to Thailand because of bureaucratic requirements as well as a new infection wave, especially in Bangkok. The Thailand Privilege Card Co. says that there was a 93 percent growth rate in sales in the past 12 months. There were 2,552 newly-enrolled members with a grand total of 13,564 overall.
The Elite visa bestows a multiple-entry visa from 5-20 years in return for an initial cash payment from 600,000 baht to over 2 million baht, according to the option chosen from ten alternatives. TPC says there are 2 main markets at present. Some foreigners over 50 years are obtaining the Elite visa as an alternative to one-year retirement visas and extensions of stay which increasingly require general medical insurance in addition to COVID-specific cover.
