Yacht companies say that relaxing charter, tax and immigration regulations could bring millions into the government's coffers through promotion of superyacht tourism.
Andy Treadwell, chief executive of Singapore-based Verventia Pte Ltd, said the company wants to make Thailand the preferred winter destination for global superyacht fleets and push the country to become a superyacht hub.
There are 5,000 superyachts operating around the world. Nearly all of them are based in the Mediterranean during the summer, but 1,500 leave for warmer climes during the winter, he said.
But less than 50 of them visit Thailand. In part, yachts are driven away by Thai regulations, which prevent owners from chartering or renting superyachts out to other customers.
"Superyachts won't go anywhere for very long if they can't charter because they need to offset some of their massive costs, which amount to US$4-5 million (120-150 million baht) per year," said Mr Treadwell. "Allowing chartering could also be essential to bring more high-spending tourists."
Moreover, some limitations around tax and immigration issues remain unresolved.
Resolving these problems will be instrumental if Thailand aims to become a superyacht hub in Asean, said Mr Treadwell.
"We will keep working under these limitations, until the regulations are changed," he said. "Based on our estimation, more than 200 superyachts will shift their winter bases from the Caribbean to Thailand in the next 2-3 years, which will inject millions of dollars into the economy.
"If we secure the regulatory changes we need, we could be driving hundreds of millions of dollars into local Thai businesses and communities, as well as millions of dollars in VAT coming into government coffers over the next few years," said Mr Treadwell.
Verventia will organise the third annual "Thailand Yacht Show" during Feb 22-25 in Ao Po Grand Marina in Phuket, along with the Tourism Authority of Thailand, and the Thailand Convention and Exhibition Bureau.
During the exhibition, BMW Thailand and Torqeedo Asia-Pacific will present their latest technology -- the BMW i8, BMW i3 and the BMW iPerformance range (740Le, 530e, X5 xDrive40e and 330e), as well as the Full Torqeedo boat electric drive system.
In addition to the yacht industry, the show will focus on other aspects of the leisure marine lifestyle, such as stand-up paddle boards, single-handed sailboats, jet-skis, sport-fishers and day cruisers.
