Thailand Tourism Authority Targeting Japanese Crypto Holders, in Efforts to Revive Tourism Sector

By Tracy Hannes | February 23, 2021

In the most recent attempt to bring around the Kingdom’s tourism sector severely affected by the global pandemic, Thailand’s tourism authority is reportedly selecting Japanese crypto holders as their targets. 

Specifically, The Tourism Authority of Thailand (TAT) is reportedly having plans to get the nation to be recognized as the first to expand beyond its scope to welcome cryptocurrency holders, particular the ones from Japan, which it considers a regional hub of crypto activity.

The authority has reportedly carried out a feasibility research, regarding the crypto payments implementation, across tourism hotspots. 

Thailand has reportedly been shifting its focus towards well-heeled tourists, beginning the breakdown of the sector in the first quarter of 2020, when countries throughout Asia started to close their borders, in response to the outbreak of the coronavirus. 

“If we can prepare the country for the cryptocurrency market, it will help attract more opportunities from high-spending tourists, especially the young and wealthy generations.” TAT governor Yuthasak Supasorn reportedly believed crypto could be the answer for reeling in the high rollers. 

He additionally remarked that the use of cryptocurrency needs to stay in compliance with regulations from the central bank, and measures have to be established to prevent the occurrence of money laundering.

“Even Elon Musk, the founder of Tesla and a crypto influencer, might be interested in visiting Thailand,” Mr. Yuthasak reportedly suggested that Elon Musk may be making an appearance at the Kingdom with his company, following recent made heavy investment in Bitcoin. 

Despite Thailand has reportedly been adopting a pro-attitude cryptocurrency trading, and has several exchange platforms, nominally Bitkub and the recently opened Upbit, the spots that accept Bitcoin as a viable means of payment throughout the nation are actually scarce.

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