Thailand’s sought-after Thailand Elite Residence Program has seen a significant increase in applications from US citizens since the start of the year and the outbreak of the COVID-19 pandemic.
The latest sales figures reveal that the number of US applicants in just the first three months of 2020 is already more than 50% of the total US applicants for the whole of 2019.
This is due in part to coronavirus-induced travel restrictions, with US citizens currently in Thailand opting to stay and enjoy the benefits of living in Thailand on a more permanent basis. However, US application numbers from outside the country have also spiked, with Q1 2020 recording a 100% increase in US applicants compared to both Q1 2019 and Q4 2019.
Dominic Volek, Managing Partner and Head of Southeast Asia at international residence and citizenship advisory firm Henley & Partners, says Thailand continues to be the destination of choice for entrepreneurs and investors. “Entrepreneur investors remain the largest category of applicants for the Thailand Elite Residence Program thanks to Thailand’s excellent global reputation as a business centre and innovation hub.”
A similar recent surge in demand to reside in Thailand can be seen in applicants from Australia, afflicted this summer by both devastating bush fires and the coronavirus. Henley & Partners reports that the total number of Australian applicants for the Thailand Elite Residence Program in Q1 2020 was more than half the number of Australian applicants for the whole of 2019. Compared to Q1 2019, there was a staggering increase of 228% in Australian applicants in Q1 2020 and 130% when compared to Q4 2019.