[Blockchain Today Reporter Park Yohan] It is known that Thailand, which has been heavily damaged by the corona pandemic, has targeted wealthy Japanese cryptocurrency holders as a way to revive its tourism industry.
The Tourism Authority of Thailand (TAT) is reportedly hoping to be the first country to welcome cryptocurrency holders, especially Japanese holders, which are viewed as the hub of Asia in cryptocurrency activities. Thailand has conducted a reality study on whether cryptocurrency payments can be implemented in travel destinations.
With Asian countries closing their borders due to the COVID-19 outbreak, Thailand’s tourism industry has been hit hard since the first quarter of 2020, and has been trying to attract wealthy tourists since then.
According to the Thai press Bangkok Post, Tourism Commissioner Yuthasak Supasorn said cryptocurrency would be the key to attracting wealthy tourists.
He said, “If Thailand becomes a suitable country for the cryptocurrency market, it will be able to attract more wealthy tourists, especially young and wealthy generations,” he said. “The use of cryptocurrency must comply with the regulations set by the Central Bank of Thailand. In addition, measures to prevent money laundering must also be implemented.”
Japan’s cryptocurrency holding rate was 11% three years ago, but according to recent statistics, it is known to be close to 4%.
“Elon Musk, Tesla’s founder and cryptocurrency influencer, may also be interested in visiting Thailand,” said Yuta Sak, and argued that Elon Musk, who recently invested heavily in Bitcoin, could hope to visit Thailand.
Thailand was quite open to cryptocurrency trading. There are several cryptocurrency exchanges, including Bitkub, and recently Upbit has also opened its doors. However, it is known that there are very limited places where you can pay with digital currency in Thailand.
According to the statistics of the Tourism Authority of Thailand, foreigners who visited Thailand before COVID-19 reached 40 million a year. Since COVID-19, the number of visitors has declined significantly, and the tourism industry is facing a serious crisis. Thailand Tourism Board has since lowered its target to 8 million.