Not just pocket change
Every June during Pride month, every brand seems to suddenly have a rainbow-coloured logo. Why is everyone jumping on the rainbow bandwagon and what potential does the pink economy hold? Let’s take a Deep Dive.
🌈 The pink economy, also known as the pink money or pink market, refers to the purchasing power of the LGBTQ+ community made up of non-heterosexual people—and it’s massive.
💰Several factors account for the growing segment including increased societal acceptance and higher disposable income among its members.
💼 Businesses are realising that the queer community has different needs and this realisation is reshaping the way they operate.
QUOTABLE
“Gay men will travel more often, spend more time away from home, and pay more attention to home design and fashion.”
— Bob Witeck, co-founder and president of Witeck Communications
BY THE NUMBERS
US$800 billion There are 200 million LGBTQ+ individuals in Asia with US$800 billion in purchasing power.
US$4.7 trillion The estimated global spending power of the LGBTQ+ community worldwide is US$4.7 trillion, according to advisory firm LGBT Capital.
15% Studies have found that consumers are willing to pay up to 15 per cent more for brands that authentically support the LGBTQ+ community.
38 There are currently 38 nations that have legalised same-sex marriages.
QUIZ
How many distinct colours are there on the most widely recognised LGBTQ+ rainbow flag?
A. Ten
B. Six
C. Four
Scroll to the bottom for the answer.
DID YOU KNOW?
Different flags, each with various colours, are used to represent the various identities within the queer community. There are more than 30 Pride flags in use at the moment.
THE EDIT
🏢 Corporate reality check. Many companies are scaling back Pride marketing in 2025 due to current political pressure and conservative backlash, leading to reduced advertising spend for related creators and causes.
🚀 Startup success. LGBTQ+ founders are prioritising community impact in their ventures, with accelerator programmes and funding specifically designed to support queer entrepreneurs gaining momentum.
💼 Workplace wins. Companies with LGBTQ+ board members consistently outperform their peers, proving that diversity isn’t just morally right—it’s financially smart.
👠 Dorothy dollar. Aside from pink money, pink dollar or pink pound, another term referring to the purchasing power of the community is Dorothy dollar. It’s a nod to Judy Garland’s iconic role as Dorothy in The Wizard of Oz and her enduring status as a gay icon.
WATCH
NHK World Japan reports how Thailand’s Pride celebrations are driving economic growth. The kingdom’s strategic positioning as Asia’s most LGBTQ+-friendly destination is paying dividends across multiple sectors.
THE FULL PICTURE
At 17 per cent, Gen Zers are the most likely generation to openly identify as part of the community, followed by millennials at 11 per cent.
KEY PLAYER
Chi Chia Wei
When Chi Chia Wei publicly came out as gay in 1986, he was the first person in Taiwan to do so, and thus helped pave the way for others. The human rights advocate challenged the courts, on multiple occasions, to review marriage laws, a fight that ultimately led to Taiwan’s same-sex marriage law, the first in Asia.
HONOUREE TO KNOW
Midnight Poonkasetwattana
Executive director of the non-profit organisation Apcom Foundation Midnight Poonkasetwattana advocates for the rights and inclusion of LGBTQ+ communities across 35 countries in the Asia-Pacific region. The organisation, celebrating its 18th anniversary in 2025, primarily provides awareness on HIV prevention and support.
ONE FINAL THING
In the history books, the first recorded same-sex couple was two Egyptian male royal court servants, Niankhkhnum and Khnumhotep, who lived around 2,400 BC.
