With the passing of the draft amendment to the Civil and Commercial Code, or the Marriage Equality Bill, by the Senate with a vote of 130-4, the bill is now set to be enacted into law. This will make Thailand the first country in Southeast Asia to legally recognize the marriage registration of LGBTQIAN+ individuals by the end of 2024.

This legal process plays a crucial role in shaping societal direction, leading to greater recognition and acceptance of relationships among diverse sexual orientations. It reduces stigma and discrimination both de facto and de jure, aligning with the values of the global citizenry that emphasize self-expression, freedom of choice, and awareness of social and human rights issues.

Economically, it is predicted that passing this law will enhance Thailand's image as a progressive nation that values diversity, equity, inclusivity, and belonging (DEI&B). It will attract and promote tourism, investment, and LGBTQIAN+ global talents and allies worldwide, particularly stimulating the Rainbow Economy in Thailand and the region. As of 2022, the global LGBTQIAN+ population was estimated at 3.88 million, with a purchasing power of up to $4.7 trillion per year, or approximately $12,000 per person annually (about 430,000 THB per person per year).

Implications for the future:

- Campaigns for gender equality advocacy in other dimensions, such as equal job application processes and the ability for transgender individuals to change their titles, will continue, with the world looking to Thailand as a model for LGBTQIAN+ human rights.

- The passage of the Marriage Equality Bill will lead to reviews and considerations of other legal impacts, such as tax deductions, inheritance rights, and child adoption and guardianship.

- Advocacy for LGBTQIAN+ couples who wish to have children to choose adoption over surrogacy will become a policy push to address demographic issues, reduce inequality, and leverage national human capital development.

- Innovations, business models, products, and services for LGBTQIAN+ consumers and allies, such as wedding planning, health programs, and financial innovations, will become increasingly important business opportunities in Thailand and Southeast Asia.

- Changes and growth in the insurance and real estate sectors, especially in housing for LGBTQIAN+ couples, will necessitate a review of benefits and transaction policies.

- The entertainment industry in Thailand, such as TV series and music videos related to LGBTQIAN+ themes, will be expected and pressured to advocate for social issues alongside providing entertainment, attracting attention from social media users and policymakers.

- The interpretation of religious teachings to be contemporary becomes a new opportunity for various religions to attract and motivate people to regain faith and adhere to religious beliefs again.

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