Thailand is set to introduce a crypto-to-baht conversion system for foreign tourists, a move aimed at boosting spending and supporting the tourism sector amid declining arrivals in 2025.
Crypto Payments for Tourists in Thailand
Foreign tourists visiting Thailand will soon be able to convert cryptocurrencies into Thai baht using local crypto exchange platforms. The converted funds will then be transferred into online wallet applications, allowing tourists to pay seamlessly at local businesses.
Thailand’s Finance Minister, Pichai Chunhavajira, said the project is designed to enhance convenience for international visitors while driving more spending in the early stages of their trip.
“This project will support tourism,” Pichai stated, highlighting that crypto-friendly policies could help the country capture a wider share of global travelers.
Tourism Forecast Revised Downward
Despite the new initiative, Thailand’s state-planning agency recently lowered its forecast for 2025 foreign tourist arrivals by 10%, projecting 33 million visitors. This figure falls short of the pre-pandemic peak of 39.9 million arrivals in 2019, which generated 1.91 trillion baht ($58.86 billion) in tourism revenue.
Boosting Thailand’s Digital Economy
The crypto-to-baht conversion initiative reflects Thailand’s broader strategy to integrate digital finance and blockchain solutions into its economy. Officials hope this innovation will not only attract more tourists but also position Thailand as a crypto-friendly travel destination in Asia.
Key Takeaways
- Thailand to launch crypto-to-baht conversion for foreign tourists.
- Payments will be made via online wallets linked to local businesses.
- Tourism forecast for 2025 lowered to 33 million visitors.
- Pre-pandemic peak in 2019 saw 39.9 million tourists and 1.91 trillion baht in revenue.
- Initiative supports both tourism recovery and digital economy growth.
