LGBTQ+ inclusion is not only a matter of social justice but also a significant economic opportunity for Thailand and Southeast Asia, according to Emma Appleby, Project Manager at Open for Business, who presented the key findings from the new research report. Sasin and TransTalents Consulting Group hosted the launch of the “Economic Case for LGBTQ+ Inclusion in Thailand,” a new report published by Open for Business on September 30. The report highlights the estimated annual cost of LGBTQ+ discrimination in Thailand, emphasizing economic gains from enhanced inclusion.
Appleby underscored several key themes from the report:
- Addressing the Wage Gap: Thailand, like many countries, experiences an LGBTQ+ wage gap, meaning LGBTQ+ individuals earn less than their non-LGBTQ+ counterparts. This disparity stems from various factors, including barriers in recruitment, promotion opportunities, and workplace discrimination.
- The Power of Positive Perception: Increased positive global news coverage about LGBTQ+ topics, like Thailand has experienced, can bolster a country’s reputation and attract international talent. The more inclusive a country, the more desirable it becomes for international assignees seeking work opportunities.
- Complex Interactions: Research suggests complex relationships between country-level indicators, like corruption and brain drain, and LGBTQ+ inclusion. While the mechanisms are not fully understood, the pattern is consistent: more inclusive countries have a variety of positive macro-level consequences that seem to trickle down to benefit LGBTQ+ and other individuals.
- Conducting the world’s first study on transgender leadership to showcase the unique strengths LGBTQ+ leaders bring to business.
- Collaborating with the UNDP, Thailand and other partners to develop an Inclusion Toolkit for Thai businesses, meticulously crafted in Thai and English to engage a broader audience, including individuals less familiar with Western terminology.