Visa Card Spending Per Visitor Increases in Thailand Amidst Slower Growth
Foreign tourist spending using Visa cards grows 10% year-on-year despite stagnant international arrivals
Thailand has seen a slower growth in Visa card payments made by inbound tourists, consistent with the country's stagnant foreign tourist arrivals.
However, spending per visitor has increased, supported by higher quality travellers.
In April and May this year, foreign tourist spending in Thailand using Visa cards grew by 10% year-on-year, slowing from 15% growth in the first quarter and 20% growth in 2024. This deceleration in growth reflects a decline in international arrivals.
US tourists recorded the highest spending via Visa cards among all international travellers in 2024, followed by those from the United Arab Emirates and Singapore.
Foreign visitors spent more in the Thai market in 2024 than the previous year.
A survey found that Thai consumers still prefer face-to-face transactions over online payments, with cash remaining the dominant method at 70%, followed by QR code payments (60%), and mobile wallets (58%).
The high proportion of cash usage is attributed to consumers in upcountry areas.
However, Thai consumers are increasingly familiar with QR code payments through PromptPay, Thailand's national payment platform.
PromptPay has increased digital payment adoption in Thailand, advancing the transition towards a cashless society.
Visa introduced QR code payments via Visa cards in 2018 and recently launched Visa QR Credit, expanding its network of financial partners for payment solutions to eight institutions.
The participants comprise Bangkok Bank, Kasikornbank, Siam Commercial Bank, Krungsri (Bank of Ayudhya), TMBThanachart Bank, Krungthai Card, Krungsri First Choice and Aeon Thana Sinsap Thailand.
Visa QR Credit offers greater convenience and security for users, while reducing costs for card issuers and merchants associated with digital transactions.
Thailand is the first country in the global Visa network to implement QR code payments and received the strongest user response, reflecting Thai consumers' familiarity with PromptPay and digital payment behaviour.
However, spending per visitor has increased, supported by higher quality travellers.
In April and May this year, foreign tourist spending in Thailand using Visa cards grew by 10% year-on-year, slowing from 15% growth in the first quarter and 20% growth in 2024. This deceleration in growth reflects a decline in international arrivals.
US tourists recorded the highest spending via Visa cards among all international travellers in 2024, followed by those from the United Arab Emirates and Singapore.
Foreign visitors spent more in the Thai market in 2024 than the previous year.
A survey found that Thai consumers still prefer face-to-face transactions over online payments, with cash remaining the dominant method at 70%, followed by QR code payments (60%), and mobile wallets (58%).
The high proportion of cash usage is attributed to consumers in upcountry areas.
However, Thai consumers are increasingly familiar with QR code payments through PromptPay, Thailand's national payment platform.
PromptPay has increased digital payment adoption in Thailand, advancing the transition towards a cashless society.
Visa introduced QR code payments via Visa cards in 2018 and recently launched Visa QR Credit, expanding its network of financial partners for payment solutions to eight institutions.
The participants comprise Bangkok Bank, Kasikornbank, Siam Commercial Bank, Krungsri (Bank of Ayudhya), TMBThanachart Bank, Krungthai Card, Krungsri First Choice and Aeon Thana Sinsap Thailand.
Visa QR Credit offers greater convenience and security for users, while reducing costs for card issuers and merchants associated with digital transactions.
Thailand is the first country in the global Visa network to implement QR code payments and received the strongest user response, reflecting Thai consumers' familiarity with PromptPay and digital payment behaviour.
