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Digital Assets and the Revival of Thailand’s Tourism Sector

2025/11/14 09:45:02

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The tourism sector is a key economic engine of Thailand. However, over the past year, it has faced various challenges, particularly in the international tourist market, which has shown signs of slowing down due to both domestic and international factors. Data from Kasikorn Research Center estimates that in 2025, the total number of international tourists entering Thailand will decrease by more than 3%, resulting in a loss of over 50 billion baht in tourism revenue.

Creating convenience for international tourists who are deciding to travel to Thailand is one approach to addressing the slowdown in the tourism sector. Payment channels for goods and services are one strategy to create a commercial advantage for Thai entrepreneurs and reduce spending costs for tourists. Currently, Thailand allows tourists to choose from various payment methods, whether it be exchanging cash into Thai baht through currency exchange service providers, using credit or debit cards issued by financial institutions in each tourist’s home country, or even using various payment technologies such as QR code payments for tourists from countries that have financial agreements with Thailand, such as Singapore, Japan, and Vietnam.

However, the use of the aforementioned payment channels still has many limitations. Using cash is a high-cost method, including the cost of storing cash while traveling and unfavorable exchange rates for currency exchangers. As for using credit or debit cards, the issuing financial institutions may charge fees for using the card abroad. Additionally, the exchange rate applied to card payments may be higher than the general market rate. Moreover, small shops, especially those operated by entrepreneurs in Thailand’s provinces, may not be ready to accept credit or debit card payments. QR code payments may be convenient for Thai merchants and service providers who have linked their bank accounts to QR codes for receiving payments, but not all international tourists can make payments using this method. Therefore, offering low-cost, fast, convenient, and secure payment channels for both Thai and international tourists is a key challenge that can help sustainably revitalize the tourism sector.

Thailand is a popular destination for both new-generation tourists and those who wish to work remotely via the internet (digital nomads). In 2024, data from the Ministry of Commerce revealed that more than 1.75 million digital nomads traveled to Thailand for tourism and used the country as a workplace. This group of tourists is typically tech-savvy and open to investing in digital assets.

Furthermore, the development of technology and the application of digital assets and blockchain technology for international payments has progressed significantly. Allowing service users, especially tourists and those who use Thailand as a base for online work, the freedom to make payments is considered one option that can help Thai tourism entrepreneurs—whether restaurants, hotels, or other service providers—offer services that meet customer needs and enhance their competitiveness in attracting foreign spending.

 ⚠️ Disclaimer: Cryptocurrency and digital token involve high risks; investors may lose all investment money and should study information carefully and make investments according to their own risk profile.

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