Thailand Launches 'TouristDigiPay' to Boost Crypto Tourism

Strategic Insights -

Thailand's struggling travel industry is hoping to revive its economy with a new programme that allows tourists to pay electronically using cryptocurrencies like Bitcoin and Ethereum. The 'TouristDigiPay' system is a response to changing global travel trends and the need for new economic growth. Foreign visitors can now easily convert digital assets into Thai baht, with the programme being run as a trial under strict rules set by the Securities and Exchange Commission and the Bank of Thailand.

Key Takeaways:

  • TouristDigiPay allows foreign visitors to convert digital assets like Bitcoin and Ethereum into Thai baht for electronic payments.
  • The programme is a response to the slowdown in tourism due to global economic pressures and changes in how people travel, which resulted in a 6.56% drop in overseas arrivals for the year to August.
  • The trial is running under strict rules set by the Securities and Exchange Commission and the Bank of Thailand to ensure safety and control risk.
  • Tourists cannot take out cash and must complete strict identity checking, and there are clear spending caps to prevent abuse.
  • The programme aims to attract tech-focused travellers and spark fresh economic growth, which could add over 1 billion baht to tax receipts indirectly.

Statistics:

  • 20 million travellers generated about 1.2 trillion baht in 2025, a 6.56% drop in overseas arrivals for the year to August.
  • Gains from trading crypto or investment tokens on Thai-registered platforms will be tax-free for five years from January 2025.
  • The scheme allows tourists to swap digital assets like Bitcoin, Ethereum, and popular stablecoins (Tether and USDC) for baht.
  • There are clear spending caps: 500,000 baht per month at larger merchants with card readers, and 50,000 baht at smaller vendors.

Sources:

  • Thailand's government announcement
  • The Government of Thailand's national news agency
  • The Tourism Council of Thailand
  • The Securities and Exchange Commission of Thailand
  • The Bank of Thailand