In a landmark collaboration, the Bank of Thailand and Visa Thailand have jointly released the whitepaper “Data-Driven Insights into Tourist Payment Behaviours”, offering a comprehensive analysis of international tourist spending and payment trends. This initiative reflects a shared commitment to accelerating Thailand’s digital transformation and strengthening its position as a world-class tourism destination.
Recognising the pivotal role of tourism in Thailand’s economy, both organisations aim to provide a robust, evidence-based foundation for policy makers, business leaders, payment innovators, marketers, and academics. The whitepaper illuminates the evolving payment preferences of international visitors, identifies opportunities for growth, and guides stakeholders towards a more inclusive, secure, and seamless payment ecosystem.
The research delivers actionable insights for multiple sectors:
- Travel and Hospitality: Tailor services and payment options to global travellers, enhancing guest experience and competitiveness.
- Payments and Financial Services: Expand digital payment acceptance, drive innovation, and support financial inclusion.
- Marketing and Retail: Understand tourist spending patterns and optimise engagement strategies.
- Academic and Policy Research: Inform future research and strategic planning with reliable data.
Five key takeaways:
1. Tourism’s economic impact and spending patterns: In 2024, international tourism contributed approximately 9% to Thailand’s GDP, generating 1.7 trillion Baht in revenue. Nearly half of all tourists originated from five key markets: China, Malaysia, India, South Korea, and Russia. The majority of tourist expenditure was concentrated in accommodation (35%) and food & beverage (23%), underscoring the sector’s pivotal role in driving economic activity and supporting related industries.
2. Rapid growth of digital payments: Digital payment adoption among tourists is accelerating, with card payments reaching a record high of 327 billion Baht in 2024, accounting for 20% of total transaction value. Card usage is especially prominent in large and medium-sized retail establishments, reflecting a clear shift towards cashless transactions. The value of card payments has now surpassed pre-pandemic levels, highlighting the growing preference for secure and convenient payment options.
3. Evolving payment infrastructure: Thailand’s payment infrastructure is undergoing a significant transformation, with over 900,000 Electronic Data Capture (EDC) terminals and one million QR payment acceptance points nationwide. While digital payments are increasingly available in major cities and tourist hotspots, adoption among smaller merchants and in rural areas remains limited. The expansion of interoperable QR payments and Tap to Phone solutions is expected to further enhance payment accessibility for all travellers.
4. Diverse payment preferences among tourists: Tourists from Malaysia, India, and South Korea demonstrate distinct payment behaviours. Malaysian and South Korean visitors show a strong preference for card payments, even for small transactions, while Indian tourists balance card usage with significant cash withdrawals. These insights highlight the need for tailored payment solutions that accommodate varying preferences and support seamless experiences across all segments.
5. Strategic Recommendations for Stakeholders: The whitepaper calls for a unified approach to digital payment adoption, focusing on accelerating SME digital transformation, expanding payment acceptance in key tourist destinations, and prioritising hospitality, retail, and attractions for advanced payment technology deployment. Collaboration among merchants, financial institutions, and policymakers is essential to build a resilient, inclusive, and future-ready payment ecosystem.
As Thailand’s tourism sector continues to rebound and evolve, the findings of this whitepaper serve as a clarion call for unity and collaboration. By working together, across government, industry, and academia, stakeholders can accelerate the adoption of digital payments, remove barriers for small and medium businesses, and create a frictionless experience for every visitor.
The future of Thailand’s tourism industry depends on our collective ability to innovate and adapt. Now is the time to unite, embrace digital transformation, and drive sustainable growth. Together, we can ensure Thailand remains at the forefront of global travel, offering world-class experiences powered by modern, secure, and inclusive payment solutions.
For further details and to access the full whitepaper, please visit:
https://www.bot.or.th/content/dam/bot/documents/en/research-and-publications/research/payment-research/whitepaper_tourist_payment_behaviours.pdf
