Thailand remains one of the key tourism and service hubs in Southeast Asia, supported by international tourism, the growing wellness tourism market, luxury travel, and an increasing number of international conferences and events.
For foreign investors, obtaining investment promotion from the Thailand Board of Investment (BOI) can be an attractive option. BOI promotion does not only provide tax incentives but may also offer significant non-tax benefits, including greater flexibility for foreign investment and the employment of foreign skilled professionals. However, the applicable incentives and conditions depend on the specific business activity and details of the proposed project. Our law firm in Thailand, H&P Herrera and Partners, through our team of lawyers specializing in foreign investment in Thailand, has prepared a summary of the general guidelines of BOI for the tourism and hospitality sector.
What many business owners may not be aware of is that foreign investors may be able to operate certain tourism-related businesses with up to 100% foreign ownership when the project qualifies for BOI promotion.
Under the BOI Investment Promotion Guide 2026, tourism-related activities can broadly be divided into two key groups: Tourism Promotion Services (10.8) and Activities to Support Tourism (10.9).
The BOI-promoted activities include:
Tourism Promotion Services (10.8)
- 10.8.1 Ferry services, tour boat services, or tour boat rental services
- 10.8.2 Tour Boat Port Services
- 10.8.3 Amusement Parks
- 10.8.5 Open Zoo
- 10.8.6 Museum
- 10.8.7 Motor Racing Circuit
- 10.8.8 Cable Car or Electric Tram for Tourism
- 10.8.9 Cruise Terminal
- 10.8.10 Man-made Attractions
- 10.8.11 Organization of World-Class Music, Sports, and International Festival Events
Activities to Support Tourism (10.9)
- 10.9.1 Hotel
- 10.9.2 Convention Hall
- 10.9.3 International Exhibition Center
Among these activities, several are particularly interesting for investors.
- Hotel Business – Activity 10.9.1
One of the most important opportunities for investors in the tourism sector is the hotel business. BOI requirements differ depending on the number of guest rooms and the investment amount.
For hotels with 100 rooms or more, the project must have a minimum investment of THB 2 million per room, excluding the cost of land and working capital.
For hotels with fewer than 100 rooms, the general requirement is a minimum investment of THB 500 million, excluding the cost of land and working capital.
The hotel must also meet the applicable standards for a four-star hotel or above.
This makes BOI promotion particularly attractive for investors developing large-scale, high-quality hotel projects in Thailand.
- Convention Hall – Activity 10.9.2
BOI also promotes Convention Hall projects, which are suitable for developments focusing on conferences, seminars, exhibitions, and large-scale events.
Key requirements include:
- Total meeting area of at least 4,000 square meters;
- The largest meeting hall must have an area of at least 3,000 square meters; and
- The project must provide appropriate equipment and facilities, with the project layout and plans subject to BOI approval.
This category can be particularly attractive for investors developing integrated hospitality and MICE facilities.
- International Exhibition Center – Activity 10.9.3
For large-scale projects, BOI also provides promotion for International Exhibition Centers.
The project must have total indoor exhibition space of at least 25,000 square meters, and each exhibition hall must have facilities for business meetings.
This category may be particularly relevant to projects that combine accommodation, conference facilities, exhibitions, and international business events.
- Amusement Parks and Man-Made Attractions
For investors interested in developing large-scale tourist attractions, BOI provides several relevant investment promotion categories.
Amusement Parks – Activity 10.8.3
An amusement park project must have a minimum investment of THB 500 million, excluding land costs and working capital. The type and components of the attraction must also be approved by the BOI.
Open Zoo – Activity 10.8.5
An Open Zoo project must have a minimum investment of THB 500 million, excluding land costs and working capital. The type and components of the attraction must be approved by the BOI or the relevant authorities.
These categories may provide opportunities for investors seeking to develop destination tourism projects rather than conventional accommodation businesses.
- Tour Boat Services and Cruise Terminals
BOI also supports investment in businesses connected with marine tourism.
Cruise Terminal – Activity 10.8.9
A Cruise Terminal project must have a minimum investment of THB 100 million, excluding land costs and working capital.
The project must provide the necessary facilities and infrastructure to accommodate cruise ships and passengers, including passenger terminal facilities and areas required for customs and immigration procedures.
In addition, BOI promotion covers:
- Tour Boat Port Services – Activity 10.8.2
- Ferry Services / Tour Boat Services – Activity 10.8.1
These categories may be particularly relevant to Thailand’s major island and coastal tourism destinations.
- Sports and Entertainment Activities
Investors may also consider BOI promotion for certain large-scale sports and entertainment projects, including:
- Motor Racing Circuit – Activity 10.8.7 — minimum investment of THB 1 billion;
- Cable Car / Electric Tram for Tourism – Activity 10.8.8 — minimum investment of THB 100 million; and
- World-Class Music, Sports and International Festival Events – Activity 10.8.11 — minimum investment of THB 100 million per event.
For a Motor Racing Circuit, the project must also comply with relevant international standards, such as FIA or FIM standards, depending on the type of circuit.
Key BOI Incentives for Investors
In addition to the eligibility requirements, investors should carefully consider the incentives available under BOI promotion.
Depending on the activity and applicable conditions, BOI may provide both Tax Incentives and Non-Tax Incentives.
Key incentives may include:
- Exemption or reduction of import duties on machinery;
- Exemption or reduction of import duties on certain raw materials;
- Corporate income tax exemption on profits derived from promoted activities for the prescribed period;
- Additional tax incentives in certain circumstances;
- Permission to employ foreign skilled workers and experts; and
- Permission for a promoted company to own land for the purposes of carrying out its promoted business, subject to the applicable legal requirements.
The precise incentives available will depend on the relevant BOI activity, investment amount, location, technology, and other project-specific conditions.
Why Is Project Structuring Important?
The fact that a business is related to “tourism” does not automatically mean that every activity within the project will qualify for BOI promotion.
For example, a single development may include a hotel, restaurant, spa, fitness center, clinic, convention center, and tourist attractions. Each of these activities may be subject to different BOI requirements, licensing requirements, and restrictions under other Thai laws.
Investors should therefore determine at an early stage:
Which activities qualify as BOI-promoted activities, and which activities fall outside the scope of BOI promotion?
This is particularly important where a project includes activities regulated under specific legislation, such as hotels, restaurants, healthcare facilities, or businesses subject to restrictions under the Foreign Business Act.
Careful structuring at the beginning can help investors avoid unnecessary restructuring costs and regulatory issues at a later stage.
Conclusion
Thailand continues to offer attractive opportunities for investors in the hotel, tourism, MICE, exhibition, entertainment, sports, and international events sectors through the BOI investment promotion framework.
For foreign investors, early-stage planning is particularly important because factors such as the type of business activity, number of hotel rooms, investment amount, project location, technology, and revenue model can all affect the project’s eligibility and the level of incentives available.
Before purchasing land, committing significant investment, constructing facilities, or incorporating a company, investors should carefully identify the BOI Activity that most accurately corresponds to their actual business model and seek professional advice to ensure that the proposed structure complies with both BOI requirements and other applicable Thai laws.
How H&P Can Help
At our Bangkok law firm Herrera and Partners (H&P), we take pride in guiding companies through the complex BOI application process. Our in-depth expertise and hands-on support enable our clients to structure their investments appropriately, maximize available benefits, and remain fully compliant with BOI requirements.
If you would like to learn more about doing business in Thailand or explore how Herrera and Partners H&P can assist you with the success of a Thailand Board of Investment application, please contact us via email at info@herrera-partners.com
