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Riding the ‘rainbow’ economic wave? Thailand gains business and talent from same-sex marriage bill

Broadcast United News Desk
Riding the ‘rainbow’ economic wave? Thailand gains business and talent from same-sex marriage bill

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Top talent and equal treatment

Sears said Thailand has long been considered a welcoming destination for the LGBT community and taking steps to enact this new legislation will enhance Thailand’s reputation and provide certainty and confidence for global businesses that need to prioritize diversity and inclusion to invest in Thailand.

He added that changing the law now would open up new talent and economic opportunities while increasing productivity in existing workplaces.

“This is really important when companies are thinking about where they want to expand and where they can take their top talent.

“For 25 years, companies have been focusing on diversity inclusion, not out of moral considerations, but because they know it brings them innovation and talent, and that has never gone away,” he said.

“The LGBT community is a warning sign for the wider culture or society. So how you treat a generally small, invisible minority that is persecuted around the world sends a message to people about how you treat everyone.”

He cited research from the Williams Institute in the United States that showed that once same-sex marriage was legalized, various economic factors increased and workplaces better reflected society’s diversity.

“Every economic indicator you can think of is positive. Now that Thailand does this, these things will come true, especially from a talent attraction and innovation perspective,” he said.

He explains that when LGBTIQ+ members of the workplace are excluded from full participation, discriminated against or denied opportunities for advancement, these companies will naturally be less than optimally productive.

Prior to this, the law had not kept pace with general social attitudes. A poll conducted by North Bangkok University in June found that 82.5% of people supported the government’s campaign to enact marriage equality.

However, gaps in the protection of LGBTIQ+ workers in Thailand’s business environment remain.

The country has previously faced challenges in enacting legal protections, despite public support for more inclusive laws and policies. A 2019 United Nations report titled “Tolerance but Not Inclusion” documented the “persistent stigma and experiences of discrimination, violence and exclusion” faced by the community.

The survey found that most LGBT respondents felt stigma and reported experiencing at least one form of discrimination, which could limit employment opportunities. Less than half of respondents had heard of Thailand’s Gender Equality Act, which was passed in 2015 to protect individuals from gender discrimination.

The report states that 10% of LGBT people and 32% of transgender women reported experiencing discrimination in their current or recent job.

Jhitsayarat Siripai, assistant professor of gender and media at Rajamangala Institute of Technology, said a marriage equality bill would not solve these problems but could help maintain existing momentum in the corporate world toward more diverse and equitable workplaces.

Gisayarat said the government has been slow to move in this area, while the private sector has been proactive in promoting products such as health insurance for same-sex couples.

“We are seeing a lot of private sector in Thailand starting to recognise and respect LGBT people in the workplace and campaigning for equality in the workplace,” he said.

“After this, what I would like to see is labour regulations that recognise LGBT people in terms of health and wellbeing in the workplace, as they still face social intolerance, violence, discrimination and lack of opportunities for advancement.”

Both experts said the Thai government and businesses need to strike a balance between social benefits and the practicality of possible business opportunities.

Bangkok Pride is a month-long celebration of LGBTIQ+ culture and community that takes place in June around the world. During the event, companies from all walks of life are keen to align their brands with social causes. Japan Airlines, EVMe and Agoda are among the official sponsors of the event.

“It is a trend and they want to capture the younger generation because they have the potential to generate profits for their companies. So it is a win-win situation and both the society and the companies benefit,” said Mr Jhitsayarat.

Companies should rightfully “celebrate this win” and capitalize on the benefits to their business, but at the same time review their own policies.

Sears said “rainbow washing” — showing superficial support for the LGBTQ+ community without taking any real concrete action — is a real risk, and companies should take a closer look at their efforts to protect and defend employee rights during the other 11 months of the year.

“How do they treat LGBT employees? What do they do to support the community? What are their internal policies? Do they have anti-discrimination provisions? Are they active advocates for LGBT civil rights? If so, then this is not rainbow washing,” he said.

Sears added that Generation Z (the demographic group born between the late 1990s and 2010, the successors to the Millennials) are not only becoming more prominent employees within companies, but are also generally demonstrating that they care deeply about diversity, inclusion, equality and climate.

He said governments and businesses that respond to these requests will benefit greatly.

A 2024 study in the United States by the Public Religion Research Institute found that nearly 30% of Gen Z adults identified as LBTIQ+, far higher than any other demographic group – millennials came in second at 16%.

According to the National Statistical Office of Thailand, Generation Z is expected to make up one-fifth of Thailand’s total population in 2019.

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