Bangkok, Thailand – Over the past thirty years, Dujruedee Thaithumnus has overseen symbolic marriage ceremonies for same-sex couples on the sandy beaches of Thailand's Samui island.

With the upcoming legalization of LGBTQ marriages in Thailand, Dujruedee anticipates conducting officially recognized ceremonies and benefiting from the "pink baht."

"Samui has all the necessary resources for hosting weddings, making the island a one-stop destination. Once the legislation is enacted, we will likely become a prominent LGBTQ wedding venue globally," said Dujruedee, whose beach packages range from $1,000 to $50,000.

Following multiple unsuccessful efforts, Thailand's bill for marriage equality passed the final parliamentary stage recently.

Upon receiving royal assent, which is expected to be a formality, Thailand will join Taiwan and Nepal as the only places in Asia where same-sex couples can legally marry.

The first same-sex weddings may take place as early as October, as activists aim to capitalize on Thailand's socially inclusive views on sex and gender.

This shift in legislation opens up new revenue streams for various businesses, including wedding planners, hotels, malls, healthcare providers, and financial institutions.

In addition to boosting event planning businesses, the law will grant legal recognition to joint property ownership, mortgages, and insurance policies for LGBTQ couples for the first time.

Property broker Ploy Rahong, who plans to marry her partner in October, envisions marketing homes, island retreats, and retirement communities specifically to the LGBTQ community.

Thailand's Pride month festivities, concentrated in cities like Bangkok, Phuket, Pattaya, and Chiang Mai, are projected to generate up to $120 million in tourism and additional spending.

The country's Prime Minister supports the law, aiming for both a political victory and an economic boost, particularly in the wake of the pandemic.

Thailand is set to submit a bid to host World Pride in 2030 later this month.

Local festivals targeting the LGBTQ community, like Prism, an EDM festival, currently generate an estimated $10 million annually, with potential for significant growth on a global scale.

Despite the positive sentiment towards the growing LGBTQ scene, some view the commercialization with skepticism, noting the need for malls to align with global issues and customer preferences.

Entrepreneurs, however, remain optimistic about the burgeoning opportunities in the LGBTQ market, envisioning Thailand as a key global hub for diverse industries.

As societal tolerance expands to consumer preferences, there is a growing belief that Thailand can emerge as a prominent destination for equality and diversity.