The Tourism Authority of Thailand has been looking into launching its own utility token called TAT Coin as part of a planned “cryptourism” campaign.
The initiative aims to attract crypto wealthy digital nomads and has been in discussions with the Stock Exchange of Thailand regarding TAT Coin’s issuance. The infrastructure behind the TAT Coin is “ready” to go and is now awaiting the green light from the Thai government.
TAT governor Yuthasak Supasorn explained that the cryptourism campaign comprises of building a new tourism ecosystem which utilizes digital technologies to allow wealthy populations, including cryptocurrency holders, to channel their money directly to tourism operators without agents or brokers.
Supasorn said that this step would greatly help local businesses recover who have been impacted by the lack of tourism capital flowing into the country due to the global pandemic. Thailand saw a total of 106,117 tourists in the first 10 months of 2021, which is a tiny fraction of the 40 million yearly average before the pandemic.
Despite the private sector appearing ready to support this campaign, Supasorn warned that there is still a lot of work to do within the government to prepare for the release of such an ambitious digital currency-focused initiative.
