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Thailand's Crypto Tourism Will Make it Easier for Foreigners to Enter the Country! No More ATM Fees, Conversion Rates?

Thailand's Crypto Tourism Will Make it Easier for Foreigners to Enter the Country! No More ATM Fees, Conversion Rates?

Categories: Financial
Posted: December 01, 2021

Thailand's crypto tourism initiative is expected to enhance the country's tourism industry. As of the moment, government officials are coordinating with the nation's regulators and a local blockchain exchange.  

These efforts are expected to allow foreigners to pay for their packaged flights using their digital tokens. This innovation is suggested by Thailand's Tourism Authority. 

With the rise of the blockchain market, the government department suggested that one of the best ways that the country can improve the tourism economy is by allowing visitors from other countries to pay in cryptocurrencies. 

 

This is a great initiative since digital tokens are now becoming more popular. Recently, TechTimes reported that Akon released his own crypto card called AKOIN. On the other hand, crypto investments in the United States have increased. 

Thailand's Crypto Tourism

According to NDTV's latest report, Thailand said that the new crypto effort for its tourism sector would lead to packaged tours, completely payable with digital coins. 

Experts said that travelers who invested in cryptocurrencies would have an easier process when visiting Thailand once it is implemented. 

This would be quite different from the regular flight packages. If Thailand really allowed crypto payments, foreigners would no longer have to worry about ATM fees and currency conversion rates. 

"If Thailand is looking to recover about 80% of its pre-pandemic tourism revenue in 2023 but with half the number of foreign tourist arrivals we saw in 2019, we can achieve that by getting someone like Russell Crowe or a crypto holder like Tim Cook to travel here," said Thailand's Tourism Board Governor Yuthasak Supasorn, via CoinMarketCap's latest report. 

Who Can Benefit from Crypto Tourism? 

Crypto enthusiasts and regular investors are specifically the ones who can benefit from Thailand's new blockchain effort. 

This means that if you already own digital coins, you can definitely visit the country and use only your cryptocurrencies to pay for your food, hotel, and other amenities. 

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