"Faith" emerges as a booming business sector in Thailand, blending tradition with modern trends
The belief-based economy in Thailand grows rapidly, blending tradition with modern business, from talismans to online services, attracting new generations.
In recent years, "faith" has transcended the boundaries of religion and rituals in Thailand. Belief-based activities, aimed at improving luck, have become a daily source of motivation for people across all generations, influencing their work, finances, love lives, and health.
What’s particularly interesting is that this belief system has evolved beyond traditional practices such as praying or fortune-telling and has turned into a growing business opportunity, becoming a key part of Thailand’s soft power. Entrepreneurs and the government have begun to take notice of its economic potential.
Faith as a Business Opportunity
According to the Department of Business Development, the number of faith-based businesses has steadily increased in recent years:
- 24 businesses in 2022
- 33 businesses in 2023
- 38 businesses in 2024
- 8 businesses in January-May 2025
As of 31 May 2025, there are 170 registered faith-based businesses with a registered capital of 221.95 million baht. This growth reflects the seamless integration of faith into the Thai lifestyle, seen in various sectors such as:
- Amulet businesses
- Fortune-telling services
- Feng Shui consulting
- Lucky phone number businesses
- Blessed mobile phone cases
- Mobile phone wallpapers for enhancing fortune, popular among younger generations
Many entrepreneurs are turning e-commerce platforms into full-fledged belief-based businesses, offering services like live-streamed fortune-telling, daily colour guides, and packages for online merit-making. New services include:
- Merit-making tours
- Online merit-making
- Online offerings of monk sets to temples, offering convenience while gaining merit
Consumer Insights into Faith-Based Behaviour
The belief-based trend isn’t limited to older generations. The belief culture has crossed generational lines and religious boundaries:
- Gen X enjoys making merit, chanting prayers, and enhancing health and safety.
- Gen Y is open to all forms of belief, seeking results, especially in work, finances, and love.
- Gen Z focuses on fashion and breaks conventional boundaries, such as using lucky phone cases or setting up screensavers to attract wealth.
A survey by the Department of Business Development revealed that 73.2% of Gen Z are fully engaged in belief-based activities, even if they don’t openly display it.
Moreover, Bangkok has the highest concentration of faith-based businesses, accounting for 46.27% of the total in Thailand, reflecting that major cities remain key consumer hubs.
Faith Economy as a New Soft Power
The “faith economy” has emerged as a new soft power, attracting tourists to Thailand. Several provinces are using it to boost tourism, with initiatives like:
- Religious pilgrimage tours
- Visiting nine temples for blessings
- Fortune-telling with famous monks
- Participating in sacred local rituals
These activities not only enhance the faith of tourists but also help spread income across local businesses, such as restaurants, souvenir shops, hotels, and local transport. This trend represents a golden opportunity for Thai businesses in an era where "faith" merges with technology. Far from being a passing fad, this growing sector is poised to thrive alongside digital lifestyles.
