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Statistics on tourists traveling to Thailand in 2022

       After the COVID-19 outbreak began to improve, the Thai government started to open up the country for tourists, in the hope of creating a bustling tourism atmosphere again, resulting in the number of tourists entering the country in 2022 to increase significantly.

       The Thailand Tourism Outlook data showed details on the number of foreign tourists arriving in Thailand, and it was found that the number of tourists arriving in Thailand in the first 10 months of 2022 (January-October) reached 7,163,465; compared with the previous year, the percentage of the increase was a stunning 6,65,0.53%, a total increase of 7,057,348 from 2021.

The Top Five Countries Traveling to Thailand

1. Malaysia          1,291,381 people

2. India                  698,757 people

3. Singapore          381,940 people

4. Laos                   345,709 people

5. Vietnam             340,670 people

The Top Three Percentages of Tourists, by Continent

1. Asia                  41.74%

2. Europe             20.90%

3. East Asia          11.63%

       According to the above information, it is obvious that Asian countries have the highest number of foreign tourists traveling to Thailand, with the most visitors from Malaysia. 

Data updated on May 20, 2018 Source :Tourism Authority of Thailand Tel : +66 2250 5500

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Thailand Tourism Indicators

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Thailand Share of Foreign Tourists to Total Guests: Whole Kingdom

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Thailand Records 9.4 Million Tourists in First 3 Months, $12.4 Billion in Spending, Government Says

Colourful umbrellas are seen in a restaurant as tourists enjoy a beach in the island of Phuket in Thailand January 19, 2023. REUTERS/Jorge Silva/File Photo

(Reuters) - Thailand recorded 9.4 million foreign tourists in the first three months of this year, who contributed an estimated 454.6 billion baht ($12.4 billion) to the economy in spending, the tourism ministry said on Tuesday.

Thailand is targeting a record of 40 million tourists this year, a figure close to that of pre-pandemic 2019.

(Reporting by Panarat Thepgumpant; Writing by Martin Petty)

Copyright 2024 Thomson Reuters .

Tags: Asia , Thailand

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Thailand’s tourism sector drives economic recovery

Executive Director and Asia-Pacific Chief Economist, S&P Global Market Intelligence

Thailand has shown a gradual economic recovery from the COVID-19 pandemic during 2022, helped by rising international tourism arrivals. Real GDP growth rose from 1.5% in 2021 to 2.6% in 2022, with growth momentum expected to improve further in 2023.

The latest S&P Global Thailand Manufacturing PMI survey results for February 2023 continued to signal expansionary conditions for manufacturing output and new orders. Due to the importance of international tourism for the Thai economy, the recovery of the tourism inflows is expected to be a key factor that will help to support improving economic growth momentum during 2023.

Thailand: Economic recovery from pandemic

Thailand recorded real GDP growth of 2.6% in 2022, representing a relatively modest pace of economic recovery from the recessionary conditions caused by the COVID-19 pandemic. Thailand's growth rate in 2022 was quite moderate in comparison with other large ASEAN economies such as Malaysia, Vietnam and Philippines, which posted very high growth rates as they rebounded from the pandemic.

A key driver for improving economic growth in 2022 was the recovery of private consumption, which grew by 6.3% compared with just 0.6% y/y growth in 2021. Private investment growth also improved from a pace of 3% in 2021 to 5.1% in 2022. However public investment contracted by 4.9% in 2022, while government consumption was flat.

Strong growth in private consumption and investment as well as rising energy import prices helped to boost import growth, which rose by 15.3% in 2022, while exports rose by just 5.5%, measured in USD terms. Consequently, the trade balance narrowed from USD 32.4 billion in 2021 to USD 10.8 billion in 2022.

Due to the important contribution of international tourism to Thailand's GDP, a key factor that constrained the rate of recovery of the Thai economy in 2022 was the slow pace of reopening of international tourism, although this gathered momentum in the second half of 2022.

Thailand's manufacturing sector has also shown some improvement in momentum, with the S&P Global Thailand Manufacturing PMI for February 2023 having shown strong expansion. The latest PMI data signalled further growth in output and new orders. The PMI rose for the third month running to 54.8 in February, from 54.5 in January indicating improving business conditions for the 14th consecutive month.

New orders for Thai manufactured goods expanded at the quickest pace in five months. The easing of COVID-19 disruptions supported the latest expansion. Foreign demand for Thai manufactured goods continued to shrink, however, amid challenging external conditions.

Meanwhile supply constraints persisted within the Thai manufacturing sector. Vendor performance deteriorated for the tenth straight month on the back of higher demand and transportation delays. Concurrently, input cost inflation rose in February, reflecting higher raw material costs and heightened shipping cost pressures.

Thailand's headline CPI inflation rate has eased to 5.0% y/y in January 2023, compared with 7.9% y/y in August 2022. The Monetary Policy Committee (MPC) of the Bank of Thailand decided to raise the policy rate by 0.25% from 1.25% to 1.50% at their Monetary Policy meeting on 25 January 2023. This follows three 25bp rate hikes by the MPC in 2022, In 2022, the Monetary Policy Committee (MPC) decided to increase the policy rate three times by 25 basis points each in August, September and November. As a result, the policy rate stood at 1.25 percent compared to 0.50 percent at the end of 2021The MPC assessed that headline inflation will decline, while medium-term inflation expectations remain anchored within the target range.

Recovery of international tourism sector

International tourism was a key part of Thailand's GDP prior to the COVID-19 pandemic, contributing an estimated 11.5% of GDP in 2019. However, foreign tourism visits collapsed after April 2020 as many international borders worldwide were closed, including Thailand's own restrictions on foreign visitors.

As COVID-19 border restrictions were gradually relaxed in Thailand and also in many of Thailand's largest tourism source countries during 2022, international tourism showed a significant improvement during the second half of the year. The number of international tourist arrivals reached 11.15 million in 2022, compared with just 430,000 in 2021. However, the total number of visits was still far below the 2019 peak of 39.8 million, indicating considerable scope for further rapid growth in the tourism sector during 2023.

Thailand economic outlook

Despite the upturn in private consumption and international tourism arrivals in 2022, the overall pace of economic expansion was relatively moderate, at just 2.6%. Easing of pandemic-related travel restrictions during 2022 has also allowed a gradual reopening of domestic and international tourism travel, which gathered momentum in the second half of 2022.

With more normal conditions expected for international tourism travel in 2023, this should provide a significant boost to the economy. Due to the importance of tourism inflows from mainland China prior to the pandemic, the reopening of mainland China's international borders will be an important factor contributing to the further recovery of Thailand's tourism market.

Helped by the continued recovery of the international tourism sector, some upturn in GDP growth to a pace of around 3.5% is expected in 2023.

Over the next decade Thailand's economy is forecast to continue to grow at a steady pace, with total GDP increasing from USD 500 billion in 2022 to USD 860 billion in 2032. A key driver will be rapid growth in private consumption spending, buoyed by rapidly rising urban household incomes.

The international tourism sector will continue to be a dynamic part of Thailand economy, buoyed by rapidly rising tourism arrivals the populous Asian emerging markets, notably mainland China, India and Indonesia.

By 2036, Thailand is forecast to become one of the Asia-Pacific region's one trillion-dollar economies, joining mainland China, Japan, India, South Korea, Australia, Taiwan, Philippines and Indonesia in this grouping of the largest economies in APAC. The substantial expansion in the size of Thailand's economy is also expected to drive rapidly rising per capita GDP, from USD 6,900 in 2022 to USD 11,900 by 2032. This will help to underpin the growth of Thailand's domestic consumer market, supporting the expansion of the manufacturing and service sector industries.

However, rising per capita GDP levels will also put pressures on Thailand's competitiveness in certain segments of its manufacturing export industry. Therefore, an important policy priority for nation will be to continue to transform manufacturing export industries towards higher value-added processing in advanced manufacturing industries.

One of the key economic and social challenges facing Thailand is its rapidly ageing population, which will result in a rising burden of health care and social welfare costs over the next two decades. This will be a drag on Thailand's long-term potential growth rate, making investment in technology and innovation increasingly important to mitigate the economic impact of demographic ageing.

Rajiv Biswas, Asia Pacific Chief Economist, S&P Global Market Intelligence

[email protected]

Purchasing Managers' Index™ (PMI™) data are compiled by IHS Markit for more than 40 economies worldwide. The monthly data are derived from surveys of senior executives at private sector companies, and are available only via subscription. The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.

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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.

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More than 9 million foreign tourists recorded in first quarter

Thailand welcomed 9,370,297 overseas visitors between January 1 and March 31, a 44% jump year on year, the Tourism and Sports Ministry reported on Monday.

These visitors have generated tourism income of around 454.65 billion baht for Thai entrepreneurs, it added.

China was the top source market for foreign tourists to Thailand, with 1,756,337 arrivals, followed by Malaysia (1,168,574), Russia (622,813), South Korea (558,873), India (472,952), Germany (315,033), Laos (308,097), the UK (290,486), the US (280,248) and Japan (271,427).

The ministry added that these statistics only include arrivals processed by the Immigration Office, and do not include those who entered Thailand by land through border passes.

The ministry said that the main factors contributing to this trend is the permanent visa waiver deal for Thai and Chinese citizens, and increasing flights to Thailand offered by several airlines.

Thailand and China have agreed to waive visa requirements for their citizens permanently from March 1, a policy that came into effect almost immediately after the earlier visa-free process expired.

The government’s visa-free policy was introduced in September last year, beginning with a 5-month visa exemption for visitors from China and Kazakhstan, followed by India and Taiwan in November.

The ministry has set a revenue target for 2024 of 3.5 trillion baht, 2.3 trillion baht of which would come from foreign arrivals of about 40 million people. Domestic tourists, meanwhile, will contribute 1.2 trillion baht from around 200-220 million person-trips.

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Service sector, tourism redeeming features in Thailand’s slow growth in Feb

Thai economy recovering on tourism despite global slowdown - c.bank

• Dec current account turns to $1.1 bln surplus
• Dec exports -12.9% y/y; trade surplus $1.0 bln
• Tourism increases but global demand slows
• BOT to smooth out any excessive moves in baht

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Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai Editing by Ed Davies, Martin Petty

Our Standards: The Thomson Reuters Trust Principles. , opens new tab

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Futures for Canada's main stock index rose on Thursday, tracking rising copper prices, while solidifying bets of interest rate cuts from the Federal Reserve in the early half of the year further boosted sentiment.

International tourism, number of arrivals - Thailand

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Thai economy expands slowly in February, helped by tourism drive, central bank says

Saturday, 30 Mar 2024

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BANGKOK (Reuters): Thailand's economy expanded slowly in February with growth in the service sector and an increase in tourist arrivals offseting a fall in exports from the previous month, the Bank of Thailand (BOT) has announced.

Thailand recorded a current account surplus of US$2 billion in February, after a deficit of $0.2 billion in the previous month, the BOT said.

There have been 8.73 million foreign tourist arrivals in Thailand this year up to March 24, up 44% year-on-year, with visitors from China reaching 1.63 million, tourism ministry data showed.

The government is aiming for a record of 40 million foreign visitors this year following the 28 million in 2023.

The economy in March will be helped by tourism, but export recovery and industrial manufacturing will have to be closely monitored, Assistant Governor Chayawadee Chai-Anant told a briefing.

The BOT is monitoring the global economic recovery, government spending and economic stimulus measures, she added.

Southeast Asia's second-largest economy unexpectedly shrank 0.6% in the final quarter of 2023 from the third, with full-year growth at 1.9%, lower than the 2.5% growth in 2022.

Last month, the central bank lowered its 2024 growth outlook to 2.5%-3.0% from 3.2%.

Car production in regional autos hub Thailand fell 19.28% in February from a year earlier, largely due to a decline in production of pickup trucks and more imported electric vehicles (EVs), a local industry group said.

This week, BOT Governor Sethaput Suthiwartnarueput said first-quarter gross domestic product was "not likely to look pretty" but drag factors would ease later in the year, and the BOT must ensure the policy rate was appropriate for supporting long-term growth.

Despite government pressure to ease policy, the BOT last month left its key interest rate unchanged at 2.50%, the highest in more than a decade, in a split vote. It will next review monetary policy on April 10.

(Reporting by Orathai Sriring and Kitiphong Thaichareon; Writing by Chayut Setboonsarng; Editing by Martin Petty) - Reuters

Tags / Keywords: Thailand , economy , slow rise , better tourism , central bank , statement

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• Value of tourism GDP Thailand 2017-2021

Total value of the tourism's contribution to the Gross Domestic Product in Thailand from 2017 to 2021 (in billion Thai baht)

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September 2023

2017 to 2021

the contribution includes both tourism direct and indirect GDP

One Thai baht equals 0.028 U.S. dollars and 0.026 euros as of November 2023. The figures have been rounded.

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• Number of local tourists Thailand 2023
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• Number of quarterly foreign visitors Thailand Q1 2021-Q4 2022

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Statistics on " Tourism industry in Thailand "

• Size of employment in tourism sector Thailand 2017-2021
• Direct contribution of tourism to gross domestic product Thailand 2017-2021
• Indirect contribution of tourism to gross domestic product Thailand 2017-2021
• Value of tourism tax Thailand 2017-2021
• Local tourists revenue Thailand 2023
• Tourism receipts from international visitors Thailand 2020, by region of origin
• Number of foreign visitors Thailand 2023, by region
• Revenue generated from foreign visitors Thailand 2023, by region
• Number of traveling locals Thailand 2023, by region
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• Share of foreign visitors to total guests of accommodations Thailand 2015-2022
• Share of foreign visitors to total guests of accommodations Thailand 2022, by region
• Advance reservation rate of accommodations Thailand 2015-2022
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• Main reasons of not wanting to travel Thailand 2022
• Chosen transportations for traveling Thailand 2022
• Main worries when travelling Thailand 2022

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• Premium Statistic Value of tourism GDP Thailand 2017-2021
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Economic impact

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Accommodation

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Sri Lanka's Economy Shows Signs of Stabilization, but Poverty to Remain Elevated

COLOMBO, April 2, 2024 —Sri Lanka’s economy is projected to see moderate growth of 2.2% in 2024, showing signs of stabilization, following the severe economic downturn of 2022. But, the country still faces elevated poverty levels, income inequality, and labor market concerns, says the World Bank's latest bi-annual update.

Released today, the Sri Lanka Development Update, Bridge to Recovery, highlights that Sri Lanka saw declining inflation, higher revenues on the back of the implementation of new fiscal policies, and a current account surplus for the first time in nearly five decades, buoyed by increased remittances and a rebound in tourism.

However, poverty rates continued to rise for the fourth year in a row, with an estimated 25.9% of Sri Lankans living below the poverty line in 2023. Labor force participation has also seen a decline, particularly among women and in urban areas, exacerbated by the closure of micro, small, and medium-sized enterprises (MSMEs). Households are grappling with multiple pressures from high prices, income losses, and under employment. This has led to households taking on debt to meet food requirements and maintain spending on health and education.

“Sri Lanka’s economy is on the road to recovery, but sustained efforts to mitigate the impact of the economic crisis on the poor and vulnerable are critical, alongside a continuation of the path of robust and credible structural reforms,” emphasized Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka . “This involves a two-pronged strategy: first, to maintain reforms that contribute to macroeconomic stability and second, to accelerate reforms to stimulate private investment and capital inflows, which are crucial for economic growth and poverty reduction.”

Looking forward, the report projects a modest pickup in growth of 2.5% in 2025, with a gradual increase in inflation and a small current account surplus. However, high debt service obligations are expected to exert pressure on fiscal balances. Poverty rates are anticipated to remain above 22% until 2026. Risks to the outlook remain, particularly related to inadequate debt restructuring, reversal of reforms, financial sector vulnerabilities, and the enduring impact of the crisis. The report emphasizes that strong reform implementation will be fundamental to fostering a resilient economy through continued macro-fiscal-financial stability, greater private sector investment, and addressing risks associated with state-owned enterprises.

The Sri Lanka Development Update  is a companion piece to the  South Asia Development Update ,  a twice-a-year World Bank report that examines economic developments and prospects in the South Asia region and analyzes policy challenges faced by countries. The April 2024 edition, Jobs for Resilience , projects South Asia to remain the fastest-growing region in the world, with growth projected to be 6.0% in 2024- driven mainly by robust growth in India and recoveries in Pakistan and Sri Lanka. But this strong outlook is deceptive, says the report. For most countries, growth is still below pre-pandemic levels and is reliant on public spending. At the same time, private investment growth has slowed sharply in all South Asian countries and the region is not creating enough jobs to keep pace with its rapidly increasing working-age population. The report recommends a range of policies to spur firm growth and boost employment as well as help lift growth and productivity and free up space for public investments in climate adaptation.

Source: World Bank, Poverty & Equity and Macroeconomics, Trade & Investment Global Practices. Emissions data sourced from CAIT and OECD.

Notes: e = estimate, f = forecast.

(a)    Components of GDP by expenditure for 2020-2022 are estimates, as the data published on March 15, 2024, by authorities only included GDP by production.

(b)    Calculations based on SAR-POV harmonization, using 2019-HIES. Actual data: 2019. Microsimulation that models sectoral GDP growth rates, inflation, remittances, employment, and cash transfers 2020-2022. Nowcast and forecast (2023-2026) use nominal GDP growth rates by sector and CPI inflation.

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The largest country in the world at 17,075,400 square kilometres (or 6,592,800 sq mi), Russia has accumulated quite an impressive reputation. Covering more than an eight of the Earth's land area, 142 million people live there making it the ninth largest nation by population . Still known for its impressive days as the expansive Union of Soviet Socialist Republics (USSR), Russia was the world's first and largest constitutionally socialist state. A recognized superpower, the USSR was known for its excellence in both arts and science winning many awards in both fields.

Russia changed drastically after the dissolution of the Soviet Union in 1991, but it continues to be a powerful and important nation. It has one of the world's fastest growing economies and the world's eight largest GDP by nominal GDP. Russia is also one of the five countries which officially recognized nuclear weapons states. In conjunction with this title, Russia is also a permanent member of the United Nations Security Council, the G8, APEC and the SCO, and is a leading member of the Commonwealth of Independent States.

A European city in a country that lies over a vast part of Asia, Moscow holds one-tenth of all Russian residents . The city is located in the western region of Russia and is the capital and epicentre of political, economic, cultural, religious, financial, educational, and transportation happenings. "Muscovites" , as residents are known, tend to be cultured and worldly. This may be due to the many scientific, educational, and artistic institutions that are based here. An intoxicating mix of the exotic and the familiar, it is the largest city in Europe with the Moscow metropolitan area ranking among the largest urban areas in the world.

The city is situated on the banks of the Moskva River which flows through much of central Russia. Moscow is actually located in a basin for the Volga, Oka, Klyazma, and Moscow rivers. The city of Moscow is 994 sq. km with 49 bridges spanning the rivers and canals that criss-cross the city.

Forests are another part of Moscow's make-up. They coveer over a third of the territory in the region. A variety of animals like elk, wild boar, deer, foxes, weasels, lynx, martens, and birds make their home here.

Located in the UTC+3 time zone , Moscow has a humid continental climate. The summers tend to be warm and humid and the winters are long, cold, and hard. High temperatures occur during the warm months of June, July and August at about 23 °C (73 °F). Heat waves sometimes grip the city anywhere between May to September with temperatures spiking up to 30 °C (86 °F). Winters are harshly chilly with temperatures dropping to approximately 9 °C (15.8 °F). There is consistent snow cover for 3 to 5 months a year, usually from November to March.

Update 10/07/2009

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Moscow metro to be more tourist-friendly

A new floor sign system at the Moscow metro's Pushkinskaya station. Source: Vladimir Pesnya / RIA Novosti

For many years now, Moscow has lagged behind St. Petersburg when it comes to making life easy for tourists, especially where getting around the city is concerned. Whereas the northern capital installed English-language maps, signs and information points throughout its subway system in the late 2000s, the Russian capital’s metro remained a serious challenge for foreign visitors to navigate.

Recent visitors to Moscow may have noticed some signs that change is afoot, however. In many stations of the Moscow subway, signs have appeared on the floor – with large lettering in Russian and English – indicating the direction to follow in order to change lines. Previously, foreign visitors using the Moscow metro had to rely solely upon deciphering the Russian-language signs hanging from the ceilings.

Student volunteers help tourists find their way in Moscow

However, this new solution has a significant drawback. “The floor navigation is visible only to a small stream of people – fewer than three people per meter. During peak hours, this navigation will simply not be noticed,” said Konstantin Trofimenko, Director of the Center for Urban Transportation Studies.

One of the biggest problems for tourists in the Russian capital remains the absence of English translations of the names of subway stations in the station vestibules and on platforms. The Department of Transportation in Moscow has not commented yet as to when this problem will be solved. However, Latin transliterations of station names can already be found in the subway cars themselves.

Finding the right exit

At four of the central stations – Okhotny Ryad, Teatralnaya, Ploshchad Revolyutsii, Lubyanka and Kuznetsky Most – the city authorities have now installed colorful stands at the exits with schematic diagrams of the station’s concourse and surrounding area, which provide information about the main attractions and infrastructural facilities.

The schematic diagrams are the work of British specialists from the City ID and Billings Jackson Design firms, who have already implemented successful projects in New York and London.

According to Alexei Novichkov, expert at the Design Laboratory at the Higher School of Economics, the design of these information booths raises no objections: The color solutions, font, layout and icons are consistent with international standards.

However, the stands do have some shortcomings. “Many questions are raised about the fact that the developers of these maps did not apply orientation to the north, and have provided layouts of the surrounding areas with respect to the exits,” says Novichkov. “A system like that is used for road navigators, but most of the ‘paper’ guides and maps are oriented strictly to north. The subway map is also oriented to north, so people may become confused.”

Muscovites and foreign visitors are generally positive about these navigation elements, with most of them citing the numbered exits from the subway as the most useful feature.

The fact is that many Moscow subway stations have several exits. One of the busiest central stations of the Moscow subway in particular, Kitay-Gorod, has more than a dozen exits. Previously, these exits were differentiated from each other only with signs in Russian referring to the names of streets and places of interest to which they led – making it easy for tourists and those with poor navigation skills to get confused.

Now, when making an appointment to meet a friend, instead of struggling to find the right spot when they tell you: “I'll meet you at the exit to Solyanka Street,” you can just propose to meet under a specific exit number.

“I’ve lived in Moscow for seven years,” says Angelika, a designer from Voronezh, “but I still don’t always know where to go to find the place I need, so the new schematic diagrams will be very useful. Previously, some subway stations had maps, but not with so much detail.”

Teething problems

Foreigners, meanwhile, focus their attention on other elements. “It is good that the new information boards have QR-codes, which can be ‘read’ by smartphones,” says Florentina, a writer from Vienna. But there are also shortcomings. “The English font of the information on posters and in the captions to theaters and museums is too small – you have to come very close to see it well,” she says.

Pleasant encounters on the streets of Moscow

Florentina was also dissatisfied with the fact that such posters are not provided at all subway stations: “When I was trying to find Tsaritsyno Park (a museum and reserve in the south of Moscow) at a subway station with the same name, it turned out to be quite difficult,” she says.

“There are no maps with landmarks for other areas, such as those already in the city center. There were no clear pointers in the English language, and the passers-by I met did not speak in English, so they could not help me,” she adds.

Officials say that the navigation system is gradually being redeveloped and improved. According to Darya Chuvasheva, a press representative for the Department of Transport of Moscow, the introduction of a unified navigation system will take place in stages.

“By the end of 2014, the system will first appear on the first subway stations on the Circle Line. By the end of 2015, we plan to install the system at all major stopping points, subway stations and transport interchange hubs,” says Chuvasheva.

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Joint Press Release Launch of the Cross-border QR Payment Linkage between Thailand and the Lao PDR 

Joint Press Release | 03 Apr 2024

Joint Press Release

Launch of the cross-border qr payment linkage between thailand and the lao pdr .

The Bank of Thailand (BOT) and the Bank of Lao PDR (BOL) announced the launch of the cross-border QR payment linkage between Thailand and the Lao PDR today, 3 April 2024, at the sidelines of the 11 th ASEAN Finance Ministers' and Central Bank Governors' Meeting in Luang Prabang, Lao PDR. This marks the success of linking the instant retail payment systems of both countries to bolster trade, investment, tourism, and the use of local currencies under the ASEAN Payment Connectivity initiative.

The cross-border QR payment linkage will facilitate economic activities between Thailand and Lao PDR, particularly those related to the tourism sector. As close neighbors, both countries enjoy significant bilateral tourism, with the number of Thai and Lao tourists traveling between both countries reaching 2 million in 2023, and this is expected to increase in the future.

In the first phase from 3 April 2024, users from Lao PDR will be able to use mobile banking applications of participating commercial banks to scan Thai PromptPay QR Code displayed by merchants in Thailand.

In the second phase, beginning at the end of June 2024, users from Thailand will be able to use mobile banking applications of participating commercial banks to scan LAO QR Code displayed by merchants in Lao PDR.

Dr. Sethaput Suthiwartnarueput, Governor of the Bank of Thailand, said, “The Bank of Thailand recognizes the importance of implementing cross-border real-time payment linkages and has collaborated with five ASEAN countries: Cambodia, Indonesia, Malaysia, Singapore, and Vietnam. The Lao PDR is our sixth linkage under the ASEAN Payment Connectivity initiative. The Bank of Thailand believes that cross-border QR payment service will be a safer, more efficient, and cost-attractive alternative for retail payments in ASEAN, thereby promoting economic growth in the region and supporting the transition towards a digital society.”

Mr. Bounleua Sinxayvoravong, Governor of the Bank of Lao PDR, said, “ The collaboration between Laos and Thailand in the realm of financial services is a reflection of our shared vision for regional integration, economic development, and prosperity. Through initiatives such as this, we reaffirm our commitment to strengthening ties and fostering mutual growth as well as the regional growth.

The introduction of Cross-border QR Code Payment represents a leap forward in the realm of financial technology, promising greater convenience, efficiency, and security in cross-border transactions. By harnessing the power of digital innovation, we aim to overcome traditional barriers and facilitate seamless financial flows between our nations.”

This initiative is made possible through the collaboration from various stakeholders from both jurisdictions under the joint stewardship of the BOT and BOL. These include the National ITMX (NITMX) and Lao National Payment Network (LAPNet) as operators of the respective instant payment systems, as well as Kasikornbank (KBank) and Banque Pour Le Commerce Exterieur Lao (BCEL) as settlement banks responsible for cross-border settlements. The commercial banks which will offer cross-border QR payment service to their customers via their mobile payment applications include two commercial banks from Thailand and six commercial banks from Lao PDR. The list of participating commercial banks including the banks providing QR codes to the merchants supporting this service can be found in Appendix. More payment service providers are expected to participate in offering this service in the near future, thus broadening the network of users and merchants.

Bank of Thailand

Bank of the Lao PDR

3 April 2024

List of Participating Commercial Banks Providing the Thailand-Lao PDR Cross-border QR Payment Service

* Names of participating institutions listed in ascending alphabetical order

For media enquiries, please contact:

Bank of Thailand Payment Systems and Financial Technology Policy Department  Tel: (+66) 2283 5033  Email:  crossborderpayments@bot.or.th  

Bank of the Lao PDR  Payment Systems Oversight Department Tel: (+856) 2125 3595 Email:  psd.pd@bol.gov.la

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