Gay Spending Power In Thailand

[ProThaiExpat]

(Bangkok) The first study of gay spending power in Thailand shows that the LGBT community is fueling an economic upturn in the Asian nation.

The study, done by the Bangkok research company Nano Search, found that gay consumers enjoyed 25 per cent to 30 per cent more disposable income than heterosexuals.

Although it did not put a dollar value on that disposable income it said that gays favor name brands and prefer luxury items.

The study also found that Thai companies are quickly realizing the power of the gay community with products specifically targeted at gays, developing cosmetics, apparel, movies, magazines and mobile phones aimed at the LGBT market.

“From our survey, we have seen tremendous potential in this gay product segment,” Teerasak Wongpiya, a business consultant for Nano Search told The Nation newspaper. “Gay people have generated a dramatic demand for products serving this ‘rainbow gender’.”

Nano Search also says that many companies are now actively seeking out gays to work for them.

Gay employees, " who often have distinct views on design, fashion and creativity, are able to create better value for products of the companies they work for," Nano found.

It also discovered that in many cases gays are so highly prized companies pay them higher wages.

Similar studies in the US have also found gays have greater spending power than the general public. It is estimated that the spending power of American gays is approximately $514 billion annually.

©365Gay.com 2005

[DJ Moore]

(Bangkok) The first study of gay spending power in Thailand shows that the LGBT community is fueling an economic upturn in the Asian nation.

The study, done by the Bangkok research company Nano Search, found that gay consumers enjoyed 25 per cent to 30 per cent more disposable income than heterosexuals.

Although it did not put a dollar value on that disposable income it said that gays favor name brands and prefer luxury items.

The study also found that Thai companies are quickly realizing the power of the gay community with products specifically targeted at gays, developing cosmetics, apparel, movies, magazines and mobile phones aimed at the LGBT market.

“From our survey, we have seen tremendous potential in this gay product segment,” Teerasak Wongpiya, a business consultant for Nano Search told The Nation newspaper. “Gay people have generated a dramatic demand for products serving this ‘rainbow gender’.”

Nano Search also says that many companies are now actively seeking out gays to work for them.

Gay employees, " who often have distinct views on design, fashion and creativity, are able to create better value for products of the companies they work for," Nano found.

It also discovered that in many cases gays are so highly prized companies pay them higher wages.

Similar studies in the US have also found gays have greater spending power than the general public. It is estimated that the spending power of American gays is approximately $514 billion annually.

Well I'll be darn...............DJM

[migca]

Yes, that is no news by now -- especially in the US.

Instead of finding it comforting news it just makes me wonder: Why the ###### in the US, we, with 514 billion a year, cannot get regular gay people all over the country to contribute heavily (heck, 0.5% of our incomes would already be a monstrous war chest) to a cause that involves our fundamental rights, and use that money to really turn the tide around. The christian fundamentalist institutes and think tanks are practically turning away donations because their coffers are completely filled up. The main gay lobbying group in the US, the Human Rights campaign, has a budget of around 30 million... what are we spending our money on? another pair of Ferragamo shoes?

It's a miracle we have gotten this far. It calls for some self-examination of most of our community's values and priorities.

[Scott]

I agree with the last poster. One of the problems is the extreme diversity of the group and the very broad range of problems. That, however, is not a good excuse for not being more proactive.

[PeaceBlondie]

Lest I be confused with a gay fashion plate, let it be known that I'm sitting at the internet cafe with 3 days' beard, white cargo shorts, white high socks, black leather loafers, and a chintzy Totonaca shirt I bought from a native vendor in the Plaza de Las Armas in Veracruz. Believe me, neither Tommy Hilfigger nor Ralph Loren would be caught dead looking like this. However, I'm embarrassed to say how much I spent this month on rental units. I definitely contributed to the local economy.