Thailand Wants to Target Japanese Crypto Holders as Part of Plan to Revive Tourism

The Tourism Authority of Thailand slashed its estimate for foreign arrivals this year.

AccessTimeIconFeb 19, 2021 at 10:09 a.m. UTC
Updated Sep 14, 2021 at 12:14 p.m. UTC

Thailand's tourism agency wants to be able to bill the country as the first to accept cryptocurrency payments in an attempt to revitalize the nation's travel industry, which has been decimated by the pandemic.

  • According to a report by the Bangkok Post on Friday, as a first step the Tourism Authority of Thailand (TAT) wants to target wealthy Japanese tourists because Japan's residents are considered to be top holders of bitcoin.
  • The agency said it is undertaking a "feasibility study" on the integration of digital currencies in tourism destinations and plans to discuss its plan with the Bank of Thailand and tourism operators.
  • "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," Yuthasak Supasorn, TAT governor, told the publication.
  • “Even Elon Musk, the founder of Tesla and a crypto influencer, might be interested in visiting Thailand,” Supasorn added.
  • Supasorn said the agency has cut its foreign arrivals goal for 2021 to 8 million visitors from 10 million. Earlier this week, the National Economic and Social Development Council estimated Thailand will draw only 3.2 million foreign tourists this year.

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