Thailand plans to develop crypto tourism

The Tourism Authority of Thailand (TAT) is seeking to attract wealthy crypto investors to revive the pandemic-affected industry

29.11.2021 - 12:10

398

1 min

What’s new? Thailand's State Department is looking for investors among new crypto millionaires to revive the tourism industry. Yuthasak Supasorn, the head of the country's Tourism Authority (TAT), met with the local cryptocurrency companies and exchanges last week to discuss plans to introduce digital assets into the tourism industry.

The Bloomberg source

What is the government's purpose? The tourism-dependent country has lost $80 billion in annual revenue amid the pandemic. Supasorn wants to make it easier for the crypto elites to spend their digital assets in the Kingdom:

“If they can use their cryptocurrency without having to exchange it or pay taxes, it will create favorable conditions for tourism."

What other actions will the government take? As previously reported, the Tourism Authority of Thailand plans to launch its TAT Coin token. The development has already been tested and is ready to work, but is awaiting the government’s approval.

Author: