Tourism Body of Thailand Wants to Lure Rich Crypto Tourists

Tourism Body’s Effort to Expand Cryptotourism in Thailand

Since September, the Tourism Authority of Thailand (TAT) has been looking to launch its own utility token called TAT coin as part of its planned “crypto tourism” campaign. The initiative aims to attract rich crypto tourists in an effort to grow the GDP of the island nation.

Yuthasak Supasorn, governor of the TAT explained that the crypto tourism campaign consists of building a new tourism ecosystem based on blockchain technology to allow wealthy individuals including cryptocurrency holders to channel their money directly to tourism operators without agents or brokers.

However, before going for a full-fledged launch, Supasorn noted that TAT needs to look into the regulatory issues such as the risk of cybercrimes:

The Country Should Embrace Cryptocurrencies

Thailand is synonymous with a relaxing holiday as its tourism sector was responsible for nearly 20% of the GDP before the pandemic. In fact, many prefer to live and work remotely due to its tropical climate and relatively low cost of living.

Due to COVID-19, the country had to close its borders to tourists which was a severe blow to its economy. With the vaccinated tourists, Thailand has started welcoming visitors once again from the beginning of November.

Commenting on this matter, Jirayut Srupsrisopa Founder and CEO of local crypto exchange Bitkub opined that Thailand’s authorities need to start delving into the crypto industry as doing so will multiply the country’s GDP by six times according to him.