Bangladeshis spent 20pc more on medical purposes in Thailand in 2024: VISA

Digital medical payments by Bangladeshi nationals in Thailand have increased by 20 per cent in 2024 in comparison with the previous year, according to an analysis by global digital payment service provider VISA.

It noted that around 90 per cent of international digital transactions were made in 20 countries, with India at the forefront, followed by the United States, the United Kingdom, Thailand, and the United Arab Emirates. 

Spending by Bangladeshis in India declined by 10 per cent last year, while increased medical tourism led to a 20 per cent rise in expenditures in Thailand. In particular, spending on healthcare and pharmaceuticals in Thailand surged by 25 per cent and 35 per cent, respectively.

In Bangladesh, overall consumer spending through digital payment gateways rose by 14 per cent in 2024, with transaction volume rising by 17 per cent compared to the previous year. The key reason is increased use of credit cards, debit cards, and other online payment facilities. 

The e-commerce sector remains the top contributor to digital spending. However, significant advancement has been noted in both direct in-store card use and online transactions. 

The use of 'tap to pay' payments grew from 6 per cent in 2023 to 13 per cent in 2024, thanks to credit and debit cards. Besides, nearly half of all digital transactions from Bangladesh were conducted via digital wallet loading.

The acceptance of digital payments has risen significantly among businesses as card-based transactions rose by 50 per cent in the year. Particularly, business credit card transactions saw a 135 per cent jump, indicating a significant expansion in the digital economy.