The Bank of Thailand and Visa Thailand have collaborated on a report, “Data-Driven Insights into Tourist Payment Behaviours,” which provides analysis of spending and payment trends among international tourists. This analysis aims to reshape the landscape of Thailand's tourism and payment industries. This partnership reflects a shared commitment to accelerating Thailand's digital transformation and strengthening its position as a modern, seamless, world-class tourist destination.

Executive of VISA THAILAND said, Tourism is central to Thailand's economy, and digital payments are key to enhancing the traveler experience. This report is designed to empower policymakers, business leaders, payment innovators, marketers, and academics to build secure, inclusive, and accessible payment systems for all tourist segments. The research offers actionable insights across various sectors, including: Tourism and Hospitality: Adapting services and payment channels to meet the needs of global tourists, enhancing customer experience, and increasing competitiveness; Payments and Financial Services: Expanding digital payment acceptance, fostering innovation, and supporting access to financial services; Marketing and Retail: Understanding tourist spending patterns and optimizing engagement strategies; and Academic and Policy Research: Providing reliable data for future research and strategic planning.

5 Key Points from the Report Tourism Generates Enormous Economic Value: In 2024, international tourism contributed approximately 9% of Thailand's GDP, generating 1.7 trillion baht in revenue. Nearly half of all tourists came from five key markets: China, Malaysia, India, South Korea, and Russia. The majority of spending was concentrated in accommodation (35%) and food and beverage (23%), underscoring the crucial role of the tourism sector in economic activity and related industries.

Strong Growth in Digital Payments: The adoption of digital payments by tourists continues to grow, with card payments reaching a record high of 327 billion baht in 2024, representing 20% ??of total transaction value. Particularly in large and medium-sized merchants, card payment values ??have surpassed pre-COVID-19 levels, demonstrating increasing popularity for a secure and convenient payment method.

Technology-Ready Payment Infrastructure: Thailand's payment infrastructure is undergoing a rapid transformation, with over 900,000 EDC (Electronic Data Capture) terminals and more than one million QR code payment points nationwide. While digital payments are prevalent in major cities and tourist destinations, digital adoption remains limited in small retailers and rural areas. Expanding the interbank QR code system through Visa's Scan to Pay or Tap to Phone solutions will increase payment accessibility for all tourist segments.

Diverse payment behaviors of tourists: Tourists from Malaysia, India, and South Korea exhibit differing payment habits. Malaysians and South Koreans prefer using cards even for low-value transactions, while Indian tourists use cards in a similar proportion to cash withdrawals. This reflects the need to design payment solutions that cater to diverse needs, creating a seamless experience for all visitors.

Strategic recommendations: This report aims to drive the digital transformation of SMEs, expand payment acceptance points in key tourist destinations, and prioritize the adoption of advanced payment technologies in hotels, retail, and tourist attractions. Collaboration between merchants, financial institutions, and policymakers is key to building a resilient, inclusive, and future-ready payment ecosystem.

Thailand's tourism sector is recovering and adapting. This report serves as an invitation for various sectors to join forces to drive progress through public-private partnerships, promoting digital payment adoption, reducing barriers for SMEs, and creating a seamless experience for all tourists. The future of Thailand's tourism industry depends on our collective ability to innovate and adapt. Now is the time to pool our resources, embrace digital, and drive sustainable growth. To ensure Thailand remains a world leader in tourism, offering even more modern, safe, and comprehensive experiences.

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