Tag: tourism

The initial phase, which allows PromptPay QR code payments to be used by foreign tourists, will be live in a few weeks. Krungthai Bank will act as the settlement bank.

Firms with parent companies overseas in 2024 grew 10% in the city while almost 500,000 have applied to come under talent schemes; in addition, tourism has increased 12% to 24 million in the first six months of this year as the government releases a new business report.

Exports grew 15% in Q1, however there is expected to be a slowdown moving forward as tariffs bite, the baht remains strong and tourism faces headwinds.

As visitors return to the city, a new five-year plan wants to return the SAR's tourism economy to close to 5% of GDP, up from 2.6% in 2023.

The card payment firm is targeting visitors to the country, who use credit cards for payments, more than local consumers.

An Amex survey suggests 47% of local businesses have sufficient cash flow for at least six months, with many keen to invest in talent, training and digital transformation, including for payments, as the SAR welcomed 5.8 million visitors in first six weeks of the year.