Kasikorn Research Centre says China’s rapidly growing film industry will benefit Thailand’s film industry.
The centre recommends that Thai government officials revise joint-venture regulations with Chinese officials and encourage more film making in Thailand by Chinese producers.
“The appearance of Thai locales on Chinese productions would benefit our tourism such as tour operators, hotels, restaurants and souvenir trade.”
Chinese film producers were the top producers in Thailand shooting 22 films, January to July this year, followed by Japan, India, Europe and Hong Kong, according to the Ministry of Tourism and Sports’ Thailand Film Office Department data.
The centre said last year China’s entertainment business value was 0.67% of the national GDP, at CNY347 billion (approximately Bt1.7 trillion), soaring 20.1% year-on-year.
“This trend implies positive prospects for China’s entertainment industry, which should continue to expand.”
The centre forecasts that growth in the Chinese entertainment business will make it the largest market by 2020.
It projects that China’s entertainment industry market value will reach CNY400 billion (Bt2 trillion) by year end rising 17% year-on-year.
“This suggests that there could be opportunities for Thailand to create dramas for Chinese TV,” the centre claimed.
The centre also estimated that copyright royalties for Thai dramas showing in China could reach Bt100 million per year.
It suggested that the Thai government should initiate negotiations with Chinese officials to facilitate the screening of Thai productions, especially to increase quotas for Thai dramas and other cinematic releases.
Kasikorn Research Centre is a subsidiary company of Kasikorn Bank, which conducts tourism and business research mainly on Thailand’s economy including tourism with reliable recommendations and indicators on business prospects.