In Thailand, Buddhism plays a central role in daily life. About 93% of the population identifies as Buddhist. Temples are ubiquitous, monks are held in high regard, and religious rituals mark the most important moments in life. But in recent decades, something has changed: the faith is increasingly being commodified. From spiritual rituals to protective amulets, Buddhism has become intertwined with economic interests.
From devotion to revenue model
Religion and money have never been completely separate, but in Thailand the commercialization of Buddhism has reached a remarkable level. Many temples now function as tourist attractions, complete with entrance gates, shops, paid rituals and special packages for those willing to pay extra for good luck, purification or protection. According to the Thai Ministry of Tourism, by 2024 more than 20% of cultural tourism will be focused on temple visits, with millions of foreign visitors each year.
At the same time, the role of the monk is changing. Traditionally a spiritual leader, he is increasingly also an influencer. Some monks have an audience of millions on YouTube or TikTok, share religious lessons in reels, and receive donations via QR codes. Sometimes a brand is created around their name, complete with merchandise and lucky objects. In such cases, Buddhist teachings are no longer just an inner path, but also a public performance.
The Economy of Amulets
One of the most lucrative manifestations of this trend is the market for Buddhist amulets. These objects, often small in size but large in symbolic value, are said to offer protection against illness, bad luck or even violence. According to Kasikorn Bank, this market is worth more than 1 billion baht annually, around 26 million euros.
What was once an expression of faith and devotion has now become an investment object. Some amulets change hands for more than 10 million baht. The value is not only religious, but also economic: determined by rarity, age, origin and the reputation of the monk who blessed them. Auctions, certifications and specialized intermediaries give this market an almost stock exchange character.
Ethical tension
These developments raise fundamental questions. Buddhism, with its emphasis on simplicity, moral discipline and the abandonment of material attachments, seems far removed from the commercial practices now associated with religion. What remains of a teaching that calls for detachment, when happiness and protection are for sale?
There is growing criticism within Thailand. Corruption scandals involving temple funds and dubious practices by influential monks have led to new legislation. Since 2017, Thai authorities have been allowed to better monitor financial flows within temples. But supervision remains limited, partly because religious institutions operate largely autonomously.
Faith or commodity?
Thai Buddhism is at a crossroads. On the one hand, the religious system offers support, meaning and social cohesion. On the other hand, the essence of the teaching is in danger of being diluted under the pressure of market forces and consumerism. Who really benefits from this spiritual economy, the believer, the clergyman or the trader?
Religion has always evolved with societal changes. But now that the line between faith and commerce is becoming increasingly blurred, it is time for reflection. When spiritual values are translated into marketable products, what remains of the original intention?
This article is based on data from the Thai Ministry of Tourism, economic analysis by Kasikorn Bank, and interviews with Thai religious scholars.
Sources:
Tourism and temple visits
- Ministry of Tourism and Sports. (2023). Thailand Tourism Statistics 2023. Retrieved from https://tourismanalytics.com/uploads/1/2/0/4/120443739/thailand-tourism-report-2024.pdf
- GoWithGuide. (2024, August). Tourism in Thailand Statistics 2024: All You Need to Know. Retrieved from https://gowithguide.com/blog/tourism-in-thailand-statistics-2024-all-you-need-to-know-525
Amulet Market and Economic Value
- Kasikorn Research Center. (2019). Thai Amulet Market Value Report. Retrieved from https://www.nationthailand.com/thailand/economy/4003741
- Regalia Thai. (2020, October 20). Thai Amulets: Value and Economy. Retrieved from https://www.regaliathai.com/Articles/2020/10/20/thai-amulets-value-and-economy
- South China Morning Post. (2019, May 13). World's Biggest Amulet Market: Why Thais Wear So Many Good Luck Charms. Retrieved from https://www.scmp.com/lifestyle/arts-culture/article/3010625/worlds-biggest-amulet-market-why-thais-wear-so-many-goo
International spread and soft power
- The Star. (2024, April 22). Amulets: Thai Soft Power, Exported as Far as China. Retrieved from https://www.thestar.com.my/aseanplus/aseanplus-news/2024/04/22/amulets-thai-soft-power-exported-as-far-as-chin
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If Lord Buddha knew how Buddhism is practiced in Thailand, He would turn over in His grave.
It is purely commercial. not according to the teaching of the doctrine.
The monks play on the superstitions of many Thais in a businesslike manner.
That is why the amulet business is doing so well.
Every now and then a Temple Monk superior is arrested, accused of dishonest dealings and unexplained wealth.
Expensive sunglasses and cars. There was one with a private plane, but you don't hear about that anymore.
Of course there are also good 'real' monks. But none will ever think of addressing their Superior about fraudulent temple practices and personal wealth!
There are 300.000 monks in Thailand. It is one big self-sustaining ('buy-off' donations) unemployed organization.
There are sons of farmers families who disappear in a temple between planting and harvesting rice and stay there for free. Not to be a financial burden to the family.
Unfortunately all too true.
Years ago a Thai minister said in an interview with the Bangkok Post that there are too many temples in the Esan. Sometimes 3 in a ribbon village along the road where 1 would be enough. "The farmers would do better to invest their money in their business. I also once read an article in the Telegraaf where it was stated that monks are becoming scarce. "The youth no longer want it. They are now even importing monks from Myanmar" the newspaper claimed. The article also stated that monks had lost many functions. They used to be active in education, but now it is only ceremonial. According to the Telegraaf. In other words: an expensive hobby
You can't miss the big donation boxes. The safes with a transparent lid with a slot to put money in. When you see how much money is in there you feel sorry for the poor Thai. If there are 6 boxes they put money in all 6. The monks have the most expensive iPhone in their hands. There is apparently a whole gambling culture among the monks. They are certainly not holy.