Siripong Angkasakulkiat, spokesperson for the Office of the Prime Minister, said on Tuesday (Oct 14) that the three-year budget, proposed by the Ministry of Tourism and Sports, will cover licensing fees and related taxes.
The Sports Authority of Thailand (SAT), which has been heavily involved in all advance discussions with the government and private sectors, will oversee implementation and ensure that all preparations align with recommendations from the Budget Bureau and other relevant agencies, reports the Bangkok Post.
The event is expected to deliver substantial economic benefits, generating at least B1.46 billion in direct and indirect value through employment, tourism, international participation and global exposure, Mr Siripong explained.
Thailand is projected to earn more than B3.29bn across the three years, roughly B1.1bn per year, from spending by participants, supporters, and visitors, both local and foreign.
The marathon is also anticipated to create over 21,000 jobs, or about 7,000 positions annually, covering roles for staff, volunteers, students and contractors during each six-month preparation period.
The competition venue will meet World Athletics Championships requirements, with a specific focus on preparing the competition route, traffic and safety, as well as managing the impact on residents along the race route.