Thailand's 15-billion-dollar TouristDigiPay initiative enables tourists to exchange cryptocurrencies for Thai Baht - An 18-month trial program designed to rejuvenate the struggling tourism sector in the region.
In an effort to offset the tourism shortfall and modernize payments, Thailand has launched the TouristDigiPay program. The initiative, overseen by multiple government agencies, allows foreign visitors to convert digital assets into Thai Baht for spending.
The program is designed to attract tech-savvy tourists, as Thailand aims to reduce its reliance on cash and cards. Monthly spending is capped at 500,000 Baht, with smaller merchants restricted to 50,000 Baht.
High-risk businesses are excluded from the scheme, and transactions are settled in Baht, not crypto, through licensed exchanges into a dedicated e-wallet. Merchants receive Baht for transactions, similar to QR code payments.
The rollout of TouristDigiPay must be seamless to avoid travelers ignoring the option. Market analysts warn that clunky onboarding or payment processes could deter travelers.
Tourism makes up around 12% of Thailand's GDP, but visitor numbers have fallen sharply in 2025. With only 16.8 million tourists visiting Thailand in the first half of 2025, down from 17.7 million in the same period last year, the program is seen as a crucial step to revitalize the industry.
Officials in Thailand hope TouristDigiPay can set the country apart in the tourism industry. Competition from cheaper destinations like Vietnam and Japan is intensifying, and Thailand's TouristDigiPay program could become one of the most closely watched tests of whether cryptocurrencies can play a real role in mainstream travel.
The program is supported by the Ministry of Tourism and Sports and the Ministry of Finance, with a target economic activity value of 20 billion baht. If successful, it could pave the way for wider adoption of digital payments in Thailand's tourism sector.
Meanwhile, other countries are also exploring the use of cryptocurrencies in tourism. The UAE has signed a deal with Crypto.com to allow airline passengers to pay in digital assets, while Bhutan has partnered with Binance Pay for enabling crypto spending in their tourism industry. Jeff Bezos' Blue Origin accepts Bitcoin and Ether for space tourism payments.
However, the success of TouristDigiPay will depend on its ability to provide a smooth and user-friendly experience for travelers. The program's onboarding and payment processes must be streamlined to attract tech-savvy tourists and boost Thailand's struggling tourism industry.
