Muteluh：市场信仰

Muteluh:Faith in the Market Place Introduction3 Belief in the supernatural in Asia4 Krungsri Research Survey Results6 Krungsri Research’s view: Whenfaith opens doors to businessopportunities16 References18 Unlessexplicitlystatedotherwise,thispublicationandallmaterialthereinisunder the copyright ofKrungsriResearch. As such, the reuse, reproduction, oralteration of this text or any part thereof is absolutely prohibited without priorwrittenconsent.Thisreportdrawsonawiderangeofwell-establishedandtrustworthysources,butKrungsriResearchcanmakenoguaranteeoftheabsolute veracity of the material cited. Moreover,KrungsriResearch will not beheld responsible for any losses that may occur either directly or indirectly fromany use towhich this reportorthe datacontained therein maybe put.Theinformation,opinions,andjudgementsexpressedinthisreportarethoseofKrungsriResearch, but this publication does not necessarily reflect the opinionsof Bank ofAyudhyaPublic Company Limited or of any other companies withinthe same commercial group. This report is an accurate reflection of the thinkingand opinions ofKrungsriResearch as of the day of publication, but we reservethe right to change those opinions without prior notice. For research subscription, contactkrungsri.research@krungsri.com Introduction Even though the digital revolution has impacted Thailand as much as any other country, a large share ofthe Thai population continues to show a strong adherence to long-standing beliefs connected to goodfortune and the power of supernatural forces and sacred objects to influence this and to attract success,or as these are called in Thai,‘muteluh’.For older individuals brought up in a more traditionalenvironment, manifesting‘muteluh’beliefs will likewise generally take on more traditional forms, such asengaging in rituals, visiting holy places, or making use of the power of sacred objects in day-to-day life.However, for younger consumers who have grown up in the shadow of digital technologies, although theunderlying beliefs may be largely unchanged, expressing these faith-based or culturally inspired views ofthe world is much more likely to happen via a digital channel. This has led to the evolution of what hasbeen called‘digitalmuteluh’, ormuteluhdevotees who make use of modern technology to, for example,have their fortune told via online platforms, engage in e-commerce centered on the sale of amulets andother auspicious items, and attend religious ceremonies virtually.This very modern blending of timelessbeliefs and the most advanced features of tech-based capitalism has joined with traditional spendingconnected tomuteluhto give birth to a vibrant area of economic activity, and significant opportunitiesexist for those active in this. More broadly, this shift has also paved the way for the creation of newmarketing opportunities targetingmuteluhdevotees, opportunities that extend to include paymentsystems and the banking sector. Belief in the supernatural in Asia The word‘muteluh’comes from the Indonesian film‘PenangkalIlmuTeluh’,which was screened inThailand in the1980s under the name‘Muteluh:SeukSaiyasat’(or‘Muteluh: Spiritual Warfare’).1/Theword‘Muteluh’then passed into Thai to describe beliefs or actions that are not part of orthodoxBuddhist doctrines but that center around ways of bringing good fortune or blessings to an individual.This encompasses fortune telling, purchasing amulets or other sacred objects, traveling to sacred sites tomake offerings to local spirits or deities, or engaging in magical practices, which might even involve thesupernatural or the occult. This is an area that, rather than shrinking, is experiencing significant growth,and so Future Market Insights estimates thatthe global market for faith-based tourism will have a totalvalue of USD38.4billion (around THB1.3trillion) by2034, up from some USD16billion (approximatelyTHB0.56trillion) in2024. This thus translates intocompound annual growth of9.1% over the period.2/ Muteluh-type beliefs are very widespread across Asia, although the details of these vary from one countryto the next. In Japan, individuals will often visit shrines or temples to buy amulets calledomamori, whichhelp to protect that individual, to bring success in work or study, and to ensure good health.3/In China andcountries that are home to the Chinese diaspora, it is common to see strong belief in feng shui and thepower of talismans to attract positive energy and to dispel negative influences.4/By contrast, India is hometo an extremely broad range of beliefs, religions and practices and so the country is often a destination forthose traveling to worship at sacred sites or to perform religious rituals at holy cities such as Varanasi,Haridwar and Tirupati5/or along the banks of the Ganges. Some Indians also like to wear amulets to shieldthem from harm or to ensure that good fortune comes their way.6/ The Indonesian Film“PenangkalIlmuTeluh” Source:imdb Muteluhin Thailand Like other popu