Thailand Pilots Crypto Payments for Tourists in Bid to Revive Sector

Thailand's $60 billion tourism industry is becoming a testing ground for cryptocurrency adoption. The newly launched TouristDigiPay system allows foreign visitors to convert digital assets into baht and spend via the national QR PromptPay network. This initiative positions Thailand ahead of regional peers in practical crypto integration.

The program, launched August 18, 2025 under joint oversight from the Bank of Thailand and Securities and Exchange Commission, addresses multiple pain points. It cuts payment card fees, accelerates settlement times, and potentially attracts tech-savvy traveler demographics. Analysts project billions in annual transaction volume even with modest adoption rates.

Tourism accounted for nearly 20% of GDP pre-pandemic, but recovery remains incomplete. Chinese visitor numbers still lag 34% behind 2019 levels. The crypto payment scheme forms part of Thailand's broader digital asset strategy, which includes ongoing CBDC experiments and cross-border settlement tests.