Integrated resorts located in Thailand’s capital city of Bangkok should generate between US$2.5 billion and US$3 billion annually – and possibly up to US$5 billion – largely driven by foreign tourists, according to an in-depth analysis by investment bank JP Morgan.

The report, released late Wednesday, sizes up the revenue opportunity for IRs, or entertainment complexes as they are being referred locally, based on the city’s access to three key demographics: local patrons in Bangkok, regional Thai patrons from outside Bangkok and foreign inbound tourists.