Muay Thai Recognized Globally, Drives Economy

BANGKOK, Oct 10 (TNA) - Muay Thai, the national sport of Thailand, has seen a surge in global recognition. The combat sport is now professionally regulated by the World Boxing Council (WBC) Muaythai and the International Federation of Muaythai Amateur. This increased recognition led the United Nations to acknowledge Muay Thai as a sport for all, signing agreements with both governing bodies.

Thailand is now home to over 5,000 Muay Thai gyms catering to foreign tourists, while nearly 4,000 gyms have opened worldwide.  Muay Thai is not merely a violent sport but a beautiful martial art. Moreover, Muay Thai attire, especially shorts, has become a popular souvenir among tourists, boosting the country’s economy.

A 2023 economic assessment revealed that the Muay Thai industry is worth over 100 billion baht. The breakdown includes 40% from training, 35% from equipment sales, and 25% from events. Recognizing its economic potential, the Thai cabinet approved a 275.65 million baht (about 8.2 USD) budget for the "Muaythai Soft Power" project in 2024, aiming to elevate the sport from a national martial art to a global one.

Muay Thai has proven to be a significant soft power driving Thailand’s economy. The private sector is actively supporting local sports equipment manufacturers, aiming to replace imports and boost domestic production.

Thailand imported 158.2 million baht (4.7 USD) worth of sports equipment from foreign countries in 2023, representing 13% of the total market. Most of these imports were large-scale sports equipment and devices using advanced manufacturing technology.

If Thailand can manufacture these sports equipment locally and they meet international quality standards, Thais will opt for domestic products. This will keep the money within the country's economy. -819 (TNA)