Thailand ranks among the world’s leading travel destinations, with the number of international arrivals per year in the country growing continuously to reach millions—until the COVID-19 pandemic. The government has seen the wide impact of the pandemic, which prompted it to turn to innovations to help the situation. Now, the government’s attention has shifted to the tourism industry in a bid to boost Thailand’s economy.
Interestingly, tourism contributed 18.21% to the country’s GDP in 2019 and dropped to 6.78% in 2020. Tourism Authority of Thailand (TAT) Governor Yuthasak Supasorn recently announced that the government intends to set up a new unit to issue its own digital currency, build a new tourism ecosystem and develop a wallet.
According to the TAT governor, some digital currency millionaires are looking for avenues, which led the government agency to look into the feasibility of creating an environment in Thailand where they can make transactions with digital…