“Thailand Privilege Card” has officially announced its business outlook of 2017 illustrating the healthy growth of 64% averagely while making a net profit more than 93% this year after the launch of new 4 categories of membership cards, increasing distribution channels, having global dealer appointment with Henley & Partner and IBC and organising roadshows with Tourism Authority of Thailand (TAT).
The company expects to expand more memberships focusing on investors and business owners, retired foreigners and also foreign family residents while planning to launch “Wealth Management” to support residency membership as Thailand Privilege Card strongly believes that convincing wealthy foreigners to stay in Thailand will generate massive amount of money to the country.
President of Thailand Privilege Card Plc (TPC) Pruet Boobphakam revealed that TPC posted an accumulative revenue of 662.95 million baht, exceeding the expectation of only 400 million baht or 65.73%, during its fiscal year from Oct 1 2016 to 30 Sept this year.TPC has made 64.32% in revenue growth from 403.44 compared over the same period of last year and also posted a net profit of 389.83, an increase of 93.60% from 201.4 million baht last year. This year, TPC has already set aside 60 million baht for Corporate Investment budget and TPC would have posted a net profit of 449.83 million baht, 123.35% of growth, when including with this budget.
The main factors that have driven TPC’s net profit were increased 1,021 memberships, fees from existing members and the effective cost management along this year that made fewer costs from 35% to only 5.48% and TPC highly anticipated that the costs will be gradually lowering.
Mr Pruet said TPC’s deficit remains only 770.92 million baht compared to 890.93 million baht in 2015.
“TPC is expected to have less costs next year as the company will spend only 5 million baht for investment budget on operation and system networks.” Mr Pruet said.
TPC always develops and enhances membership’s further privilege especially the primary membership card “Elite Ultimate Privilege” valued 2 million baht and TPC also comes up with another privilege availability for card members such as having golf course, cooking and horse riding from Adventure Thailand, Relaxation and Healthier programmes. Todays, Thailand Elite Card has total 4,877 memberships (as of the first launch in 2009 to Sept 30 this year ) comprising 2,508 former memberships and new 2,369 memberships after 2013 until Sept 30 this year. There are an increasing number of 1,021 memberships from 2015’s fiscal year having only 3,856 memberships.
The latest number of TPC’s memberships as of Nov20 are 5,040, 2,459 from former memberships and new 2,501 memberships, driven by the new memberships after 2013 thanks to the best performance of 3 membership cards.
-Elite Easy Access valued 500,000 baht with 5 years validity designed for solo traveller arriving and departing Thailand in short time.
-Elite Superiority Extension valued 1 million baht with 20 years validity designed for the retired or long staying foreigners.
-Elite Family Excursion valued 800,000 baht with 5 years validity designed for group of family travelling to Thailand for only short time.
Mr Pruet also added the launch of new membership cards during the beginning of this year was one of the key success factors that could drive TPC’s performance to satisfaction seen from the top-three membership cards comprising two new privilege cards which are Elite Superior X and Elite Family Excursion including with the privilege enhancement for primary membership card to make more diversity of usage.
Moreover, the partnership with Henley & Partners, where its 28 operation offices globally helped expanding TPC’s popularity, and IBC Aviation that became TPC’s major European markets specialist in connecting people in France, Luxembourg, Belgium, Monaco, Switzerland and French territories speaking countries and the roadshows in partnership with Tourism Authority of Thailand (TAT) in France, Switzerland, Japan, Hong Kong and China mainland are the also the three major moves that helped drive TPC’s successful performance this year.
As the company is 100% owned by Tourism Authority of Thailand (TAT), Mr Pruet said TPC’s vision is to help promote Thailand tourism and also welcoming hi-end or wealthy international travellers to generate massive revenue to Thailand through tourism. There were landslide success from roadshow activities, TPC cards had great feedbacks from many people especially wealthy Chinese travellers and Thailand became their the first destination they intended to visit thanks to comfortable atmosphere. Chinese memberships now became the first rank of TPC this year followed by British, American and Japanese.
Mr Preut added that having Globe Visa as dealer, the residency and citizenship program specialist company in China, has successfully made Chinese people became TPC’s first rank of membership. However, Thailand’s growing and positive outlook of tourism directly benefits Thailand Privilege Card because Thailand became more and more popular among foreigners and will be growing gradually thanks to perfect location, natural resources and cultures.
For the 2018, Mr Pruet said Thailand Elite Card will be focusing on expanding more memberships to investors, business owners, retired foreigners who want to make a long stay in Thailand and also the group of family in term of “Resident in Thailand” because these groups are expected to be major tourism revenue drivers for Thailand.
These groups of people are also expected to buy properties with price ranged between 5 to 10 million baht and if calculated with 1,500 TPC memberships buying only 30% of properties, they would make more than 7.5 billion baht in spending in Thailand.
Under the 2018 vision entitled “Simply Extraordinary Country Residency program Crafted for Friends of Thailand”, Thailand Privilege Card also plans to launch “Wealth Management” for memberships to support many upcoming management in Thailand by finding more partnership to take care of Thailand Residency. The products will be crafted to clearly meet residency’s needs.
Thailand Elite Card recently has 7 cards categories varied by price and privileges valued from 500,000 to 2 million baht covering every target groups of wealthy foreigners, the group of family residing in Thailand for long term, and foreign investors spending for properties in Thailand that benefit the country in term of “Investment Immigration.”