In his recent efforts to revitalize the UK’s pandemic tourism industry, The Thai Tourism Authority is aimed at holders of cryptocurrencies from Japan.
The Thailand Tourism Authority (TAT) wants the country to be the first to welcome cryptocurrency users, particularly from Japan, a country that is often viewed as a regional hub for crypto activity. The authority has carried out a feasibility study on the implementation of payments with cryptocurrencies in tourist destinations.
Thailand has been trying to attract wealthy tourists since the industry collapsed in Q1 2020when Asian nations began closing their borders after the Covid-19 outbreak.
According to the Bangkok Post, the governor of TAT, Yuthasak Supasorn said that cryptocurrencies could be the key to attracting the big players:
“If we can prepare the country for the crypto market, it will help create more opportunities for tourists with high purchasing power, especially the young and affluent generations.”
That was added The use of cryptocurrencies must comply with central bank regulations and measures must be taken to prevent money laundering.
The agency cites figures from Japan three years ago as a crypto ownership rate of 11%.However, Statista’s latest 2020 figures suggest they are closer to 4%.
Mr. Yuthasak even suggested that Elon Musk want to visit the kingdomas your company recently invested in Bitcoin.
“Even Elon Musk, the founder of Tesla and crypto influencer, might be interested in visiting Thailand.”
Although Thailand has been relatively open to trading cryptocurrencies and has a number of exchanges like Bitkub and the recently launched Upbit, There are very few places in the country that accept digital currency as a method of payment.
Before the Covid-19 pandemic, the Ministry of Tourism recorded almost 40 million tourists annually. That number has decreasedThis decimates the once thriving industry as the country has remained largely closed to foreigners. The TAT has updated its target for overseas arrivals to just 8 million.
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