Thailand will roll out an 18-month pilot programme allowing foreign tourists to convert cryptocurrencies into baht for local payments, in a bid to boost the country’s tourism sector.

Under the scheme, conversions will be capped at 550,000 baht (US$16,949) to safeguard against money laundering, Finance Ministry permanent secretary Lavaron Sangsnit said. The cap may be reviewed after the trial period.

Foreign visitors will be able to convert digital assets through Thai-based cryptocurrency exchanges, with funds transferred into online wallet applications for use at local businesses. Finance Minister Pichai Chunhavajira noted that the initiative is expected to increase tourist spending during its initial rollout.

The move comes as Thailand faces weaker tourism momentum. The state planning agency recently revised down its 2025 foreign tourist arrival forecast by 10 per cent, projecting 33 million visitors—well below the pre-pandemic peak of 39.9 million in 2019, which generated 1.91 trillion baht (US$58.9 billion) in revenue.

Officials hope the crypto conversion scheme will provide Thailand with an innovative edge in attracting tech-savvy travellers and diversifying payment options in the tourism economy.