BANGKOK, 4 June 2015 – The Ministry of Commerce has suggested the private sector to tap into the lesbian, gay, bisexual and transgender (LGBT) market in the U.S., saying the group has the purchasing power of as high as 27 trillion baht.
The advice was made by Department of International Trade Promotion Director-General Nantawan Sakuntanaga, after statistics showed demand for the LGBT products in the U.S. is on the rise.
The Director-General said the group has the purchasing power of as high as 27 trillion baht per annum, a very attractive market worthy of entrepreneurs’ attention. She indicated business operators should focus on same-sex marriage souvenirs and Thai decorative items, such as dried flowers, lamps, vases and wooden carvings.
She stated that several states in the U.S. have legalized LGBT marriage, including Florida, a key deciding factors for LGBT members to invest in real estate in the southeasternmost state.