Tourism of Thailand governor says ‘crypto is the future’

The Tourism Authority of Thailand authorities expect that 10% of cryptocurrency holders will visit Thailand in the coming days.
The Tourism Authority of Thailand authorities expect that 10% of cryptocurrency holders will visit Thailand in the coming days.

Thailand, one of the favourite countries for tourists, is working hard to become a crypto-positive society. After the announcement by the Tourism Authority of Thailand, on bringing its own utility, the country has gained a lot of attraction from all over the world.

The country said that it wants to regain the $80 billion loss in the tourism revenue due to the subsequent shutdown following Covid crisis.

As per the Bloomberg’s report, The Tourism Authority of Thailand (TAT) Governor Yuthasak Supasorn stated:

Crypto is the future, so we must make Thailand a crypto-positive society to welcome this group of quality tourists.

He stated that the Thai tourism board is creating the framework for expanded cryptocurrency adoption, which it hopes to have in place by the time global travel recovers to normal.

Thailand aims to recover before 2024

The governor said that the concept has already been discussed with the Bank of Thailand (BOT), the Thai Securities and Exchange Commission (SEC), and  the country’s largest crypto exchange Bitkub Online Co.

He also stated that the authority will establish a new unit next year to handle the issuing of its own crypto currencies, develop a wallet, and create a new tourism environment. Unlike El Salvador which has adopted Bitcoin so gracefully, Thailand does not recognise crypto as legal tender at the moment. On the other hand, as TheCoinRise reported, Brazil is thinking of adopting Bitcoin as a legal tender.

Yuthasak suggested persuading someone like Russell Crowe or a crypto holder like Tim Cook to fly here. Thailand might recuperate around 80% of its pre-pandemic tourism revenue in 2023 with only 50% of the number of international tourists in 2019.

He predicts that Thailand’s tourism industry will recover to pre-Covid levels by 2024, with the country aiming for 1 million high-spending tourists in the first quarter of 2019. Meanwhile, the authorities expect that 10% of cryptocurrency holders will visit Thailand in the coming days.