The Magic of Pride: Thinking Beyond the Rainbow

A month-long celebration, June’s Pride Month is a colourful period dedicated to advocating diversity and equality. The Pride community now numbers over 450 million people worldwide, even larger than the population of the United States.

According to Deutsche Bank research, Pride spending worldwide (often referred to as “pink money”) is estimated to be over US$3.7 trillion in 2023, with an annual average growth of 2%. This is why the economic significance of Pride has gained increasing recognition in recent years.

With global acceptance on the rise, this rainbow wave is creating significant economic opportunities. Global brands are increasingly engaging in Pride marketing campaigns, while governments in many countries actively promote rainbow tourism.

A notable example includes Levi’s Pride collections, which have been launched annually for over ten years and have sold out in multiple countries. In addition, rainbow tourism — particularly during Pride festivals — has become an economic driver by generating tourism-related revenue and creating jobs.

Pride Toronto, one of the world’s largest and longest-running Pride events, welcomed an estimated 3 million attendees during 23–25 June 2023. The festival supported the creation of more than 4,700 jobs and increased spending during the festival on food & beverages, recreation, entertainment, accommodation, transportation, and shopping, ultimately contributing CAD591.7 million to Ontario’s GDP. This figure surpasses both 2022 (CAD589.8 million) and 2019 (CAD374.2 million) festival revenue, according to the Pride Toronto Board of Directors.

Thailand is now gearing up to be a top global destination for the Pride movement. Following the passage of a marriage equality bill earlier this year, there has been a notable shift among Thai businesses and government agencies toward more active involvement in Pride marketing, including rainbow flag decorations, the launch of special Pride-themed products, and the organising of Pride events/activities.

However, concerns around rainbow-washing have emerged globally as many brands increasingly adopt rainbow symbols during Pride Month to boost sales without taking genuine action to support the Pride community. Avoiding rainbow-washing is therefore a key challenge for Thailand as it strives to establish itself as an ideal Pride-friendly destination.

There are several effective ways to avoid rainbow-washing and tap into the Pride market, but doing so requires collaboration between businesses, government agencies, and the Pride community to create a truly Pride-friendly environment.

The effort can begin with the business sector, which should demonstrate genuine support for the Pride community, such as by donating to reputable LGBTQIA+ organisations and implementing inclusive workplace policies. Leading examples include Sansiri, Dtac, and Unilever — three model organisations participating in the “Live Equally… We Are Equal, I AM Equal To You” campaign supported by the UNDP.

The campaign promotes inclusive recruitment of LGBTQIA+ employees, an equal work environment, and enhanced welfare benefits, such as marital leave, financial support for marriage, gender affirmation surgery leave, and leave to care for life partners. In addition, businesses should also clearly communicate their values beyond just branded merchandise.

For instance, Pullman Bangkok King Power and Mercure Bangkok Surawong proudly display rainbow flags year-round to signify their ongoing commitment to inclusivity and to warmly welcome LGBTQIA+ guests. Staff are trained to ensure that all guests feel comfortable, safe, and respected.

Most importantly, businesses, government agencies, and the Pride community should actively collaborate to organise Pride events throughout the year, not just during Pride Month, and promote Thailand as a Pride-friendly destination to boost rainbow tourism.

A great international example is VisitOSLO’s “The Proud Experience” campaign, which positions Oslo as a city welcoming Pride travellers. The campaign features authentic stories from key LGBTQIA+ influencers worldwide as well as a Pride travel guide covering hotels, restaurants, and activities on the official VisitOSLO website. This holistic approach has helped Oslo attract more visitors and establish itself as one of the world’s top Pride-friendly destinations.

Pride consumers today have higher expectations for meaningful contributions to their community. This shift creates both opportunities and challenges for Thailand in its efforts to become a top global Pride destination.

The Magic of Pride: Thinking Beyond the Rainbow