Thailand‘s government is on course to increase the cash rebate for foreign shoots from 20% to 30% after a meeting with senior Hollywood execs.
Plans to increase the rate have been in the works since early 2023.
Thai representatives talked up the plans at recent Asian confabs, and sources say they were the centerpiece of a networking reception for LA execs at the Beverly Wilshire Hotel hosted by Thai Prime Minster Paethongtarn Shinawatra.
According to a post on a Thai government website, in attendance at the Wiltshire were Motion Picture Association CEO and Chairman Charles Rivkin, Disney’s Cathleen Taff, HBO/Warner Bros Pictures’ Jay Roewe, Amazon MGM Studios’ Vernon Sanders, NBCUniversal’s Chris Miller, Netflix’s David Hyman, Sony Pictures Entertainment’s Jill Rather and Paramount Pictures’ Sharon Keyser.
The result looks likely to be a 30% rebate on foreign shoots in the country with no cap. Previously, Thailand offered a cash rebate of 15%, with a further 5% available based on a cultural test. The maximum rebate per production was capped at 75 million baht ($2.1M).
According to local reports, Thailand is expecting American crews to spend 10 billion baht ($290M) to make films in Thailand next year.
Thailand has been attempting to attract more productions to its golden sandy shores, with the likes of the upcoming Alien TV series and Season 3 of HBO drama The White Lotus shooting there, along with movies such as Depravity, which stars the likes of Victoria Justice and Dermot Mulroney. Officials hope that the cash rebate will increase the country’s soft power, generate income and create jobs.
The government site quoted Prime Minister Shinwatra saying: “U.S. film producers were the number one investor group, with 34 films filmed in various locations throughout Thailand. The government has promoted the creative industry and filming by reviewing various promotional measures, such as increasing benefits in the form of a maximum cash rebate of 30% and not setting a maximum cash rebate ceiling per project.”