admin Thailand has announced an 18-month pilot program that will allow foreign visitors to convert cryptocurrencies into baht for local spending, part of broader efforts to reinvigorate its struggling tourism industry. Officials revealed the plan on Monday, emphasising both its economic potential and regulatory safeguards.
The pilot will cap conversions at 550,000 baht (around $16,950) per visitor to mitigate risks such as money laundering. Finance Ministry permanent secretary Lavaron Sangsnit said the ceiling could be revised once the pilot concludes, depending on its success and compliance levels.
Foreign tourists will convert digital currencies through Thailand-based crypto exchange platforms. The resulting funds will be transferred into online wallet applications, enabling tourists to make direct payments to hotels, restaurants, and other local businesses. Finance Minister Pichai Chunhavajira described the initiative as a tool to “support tourism” and stimulate greater spending during the early stages of recovery.
Tourism Recovery Faces Ongoing Headwinds
The program comes as Thailand struggles to regain its pre-pandemic momentum. On the same day the pilot was announced, the state planning agency revised down its 2025 foreign tourist arrivals forecast by 10%, lowering it to 33 million. The projection highlights ongoing challenges for Southeast Asia’s second-largest economy, where tourism remains a critical growth driver.
Despite the optimism around digital currency payments, the revised target still lags significantly behind 2019’s record. That year, Thailand welcomed 39.9 million foreign visitors, generating 1.91 trillion baht ($58.9 billion) in tourism revenue. Current estimates suggest the recovery will remain incomplete for several years.
Officials hope the crypto-to-baht program will enhance visitor convenience, particularly for travelers from markets with high digital currency adoption. If successful, the initiative could position Thailand as a regional leader in integrating cryptocurrency into mainstream economic activity, while offering valuable lessons in balancing innovation with financial oversight.
By blending digital finance with traditional tourism, Thailand aims to capture a larger share of global spending and bolster one of its most important industries amid an uncertain recovery path.
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