The Tourism Authority of Thailand has confirmed plans to launch utility tokens that will bear the ticker symbol TAT. The idea is to attract crypto savvy tourists. Thailand has become a global tourist destination and hosts millions of visitors from all parts of the world. While the Tourism Authority of Thailand has the plans in place, there are regulatory hurdles it will have to overcome.
Yuthasak Supasorn, TAT governor, expressed confidence in capitalizing on the use of cryptocurrencies to attract more tourists. “We have to prepare digital infrastructure and digital literacy for our tourism operators in order to commence crypto tourism as the traditional business model might not be able to keep up with the new changes,” he explained.
A report published by Bangkok Post also confirmed that it “would involve the transfer of vouchers into digital tokens that could help operators gain greater liquidity.”
The move could benefit Thailand especially as the country’s economy relies largely on tourism. Also, with the COVID pandemic restrictions easing and with tourism starting to gain momentum, the new strategic launches could help boost tourism in the country.