Bolt, the Estonia-based ride-hailing platform, announced plans to increase its investment in Thailand in 2026, aiming to challenge the country’s top three operators despite ongoing economic headwinds.
Estonian ride-hailing company Bolt is preparing to ramp up its presence in Thailand by expanding services, increasing brand visibility, and investing in competitive pricing strategies. The company has committed to maintaining service fees up to 40% lower than its rivals as it targets a larger share of the Thai market.
Thailand is Bolt’s first operational base in Southeast Asia. Since entering the market, the company has grown rapidly, now covering 35 cities with plans to expand to 50 by the end of 2025. Between 2023 and 2025, Bolt invested 300 million baht in the country, and further increases in funding are expected in 2026.
The move comes as Thailand’s ride-hailing sector continues to expand. According to research by Mordor Intelligence, the market is forecast to reach USD 2.55 billion in 2025 and grow to USD 4.01 billion by 2030. In urban areas facing high vehicle density and severe congestion, ride-hailing services are increasingly seen as a viable alternative to private car ownership.
Bolt’s recent Economic Impact Report, based on a survey of 1,200 users, found that 82% believe ride-hailing provides a realistic alternative to owning a car. The report also noted that 64% of respondents use ride-hailing services three to four times per week, with adoption particularly high among Gen Z consumers. Additionally, 12.5% of respondents who did not currently own cars had previously sold theirs—reflecting a shifting mindset toward shared mobility.
In 2024, foreign tourists accounted for around 25% of Bolt’s user base, totaling over 20 million rides. However, usage by Chinese tourists has dropped by half, while domestic demand has remained stable.
Thailand’s worsening traffic congestion further underscores the need for alternative transport. Average daily commute times exceed one hour and 16 minutes, and Bangkok’s congestion index climbed from 60 in 2023 to 137 in May 2025, placing it 11th globally. Informal parking remains a challenge for infrastructure enforcement in the capital and other cities.
Bolt Thailand General Manager Nathadon Suksiritarnan said the company will continue developing new service models and safety features while focusing on increasing adoption in rural areas. He noted that national ride-hailing usage remains below 10% of the population, leaving significant room for growth.
Executives confirmed that investment will continue in marketing, driver incentives, and promotional activities to improve brand recognition and compete with leading operators in the sector.
