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The Ultimate Guide to the B2B Gift Card Market in Thailand

Discover the latest trends, top brands, and insights into the B2B gift card industry in Thailand

GENERAL FACTS ON

Thailand

69.65M

Population

Bangkok

Capital

Thai

Official language

Thai baht

Currency

National holidays

6th April (Chakri Day), 13th-15th April (Songkran), 4th May (Coronation Day), 3rd June (Queen Suthida’s Birthday), 28th July (King Birthday), 12th August (Queen Mother’s birthday), 13th October (King Bhumibol Memorial Day), 23rd October (Chulalongkorn Day), 5th December (National Day & Father’s Day in honor of King Bhumibol Adulyadejy), 10th December (Constitution Day)

Thailand gift card market size

In value terms, the gift card market in Country recorded a CAGR of 14,3% during 2020-2024. The gift card industry in Thailand continues to grow a few years later, and it is expected to record a CAGR of 11% during 2025-2029. The gift card market in the country will increase from US$ 2,63 billion in 2024 to reach US$ 4.5 billion by 2029.

Thailand has in recent years seen a transition in general income levels, being an upper middle-income country. This reflects an economic growth, with the creation of millions of jobs. 

However, more recently, there have been signs of stagnation in the economy, with challenges such as financial inequality and external factors impacting long-term growth. Tourism and private consumption remain the major drivers of growth, and these are areas with high adoption of gift cards as incentives, rewards, and casual gifting. 

Thailand targets to increase its digital economy to 50% by 2030, with the digital economy being predicted to generate 60-65 million new jobs in the future. The government has launched multiple new incentives to support high-tech industries, pushing for further digitalization.

Such developments are likely to push the adoption of digital gift cards and further innovations within the gift card industry, resulting in an increased use of digital gift cards within the corporate gifting sphere.  

Country gift card market size

Thailand gifting traditions

  • Cultural Influence: Thai traditions are deeply rooted in Buddhism, shaping most cultural practices. Respect and courtesy are central values in Thailand, influencing everyday interactions 


  • Family and Social Dynamics: Family is a cornerstone of Thai life, prioritising collective well-being over individualism. Friendships in Thailand emphasise the group rather than the individual, highlighting selflessness 


  • Gift-giving in Thai Culture: Unlike other Asian countries, gift-giving is not a central aspect of Thai culture but is valued when practiced. Gifts between friends and family are not expected, but are appreciated for their thoughtfulness 


  • Guidelines for Giving Gifts: Opt for small, inexpensive, and thoughtful gifts to avoid making recipients uncomfortable. The significance of a gift lies in the gesture rather than its material value 


  • Business Gift-Giving Etiquette: Business culture in Thailand prioritises relationships, with rapport-building preceding transactions. In professional settings, small and thoughtful gifts can be a sign of appreciation, but they are not always expected. When giving gifts in business, it’s important to consider the company culture and ensure the gesture is appropriate for the context. 

Gift card regulations in Thailand

Here are some general points about gift card regulations in Thailand as of December 2023: 


  • Validity is set by the provider and may be as short as 30 days  

It's important to note that regulations may change, so always check the latest guidelines with Thailand's government or appropriate regulatory bodies. Moreover, the specifics and prerequisites might differ based on the gift card type, its provider, and other considerations.

If you're considering buying or utilizing gift cards in Thailand, ensure you read the issuer's terms and conditions and consult with legal experts if necessary

Popular gift cards in Thailand

Popular gift card brands
  • True Money Wallet: True Money Wallet is a widely used digital payment solution in Thailand, offering seamless transactions and access to various online services 


  • The Oasis Spa: The Oasis Spa gift card gives access to an oasis of relaxation to indulge in rejuvenating experiences amidst tranquil surroundings 


  • Tops Online: A Tops gift card delivers a world of culinary delights and grocery treasures 


  • Starbucks: A delightful way for customers to treat themselves to their favourite brews and bites  


  • H&M: Elevate style with an H&M gift card, a fashionable token that allows Thai customers to curate their wardrobe with on-trend and timeless pieces  


  • Tesco Lotus: From groceries to gadgets, a Tesco Lotus gift card is the versatile key for Thai customers to unlock a world of choices for their everyday needs 


  • EVE AND BOY: Indulge in beauty and self-care with this gift card, an invitation for Thai customers to discover a curated selection of skincare and cosmetics  


  • Razer Gold: Level up the gifting game with Razer Gold, the ideal gift card for Thai gamers to enhance their digital adventures and enjoy premium gaming experiences  


  • GrabGifts: Explore the city with GrabGifts, a versatile gift card that lets customers experience seamless rides, delicious eats, and more 

Benefits of B2B gifting in Thailand

  • Understanding Local Business Culture: In Thailand, relationships are essential for successful business dealings, making corporate gifting a valuable tool

     

  • Building and Maintaining Relationships: Corporate gifts are an effective way to strengthen partnerships and enhance mutual trust 


  • Employee Appreciation: Thailand’s business culture emphasises the collective, with employees being the core of any company. Recognising employees’ hard work with well-chosen gifts boosts morale and fosters a sense of unity and camaraderie  


  • Enhancing Brand Image: In a market where symbolism matters, a strategically chosen gift can significantly impact a brand’s image. Aligning gifts with Thai customs and traditions not only promotes your brand but also integrates it into the cultural conversation 

The Global Gift Card 

Looking to build trust in Thailand’s relationship-first business environment? Offering a gift during Songkran or after a major deal shows both gratitude and respect. With GoGift, your gesture aligns with local customs while supporting global goals.

Physical and digital versions of The Global Gift Card
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