With the COVID-19 crisis, the tourism sector is at half-mast. Countries for which tourism was one of the largest sources of income are suffering economically from the lack of tourists. The current situation is forcing these countries to think about solutions to revive tourism. Thailand had recently communicated an ambitious strategy that would combine cryptomoney and tourism.
The development of cryptos to attract tourists
The local newspaper Bangkok Post recently unveiled information on the government’s new plan to boost tourism in the country. The strategy was developed by the TAT (Tourism Authority of Thailand), the Thai Ministry of Tourism. An important part of this strategy is based on the development of cryptos infrastructure in the country.
The development of a crypto ecosystem in the country would be a double win. Firstly, it would give the country a major publicity boost. In addition, tourists with cryptos would be all the more interested in coming to Thailand. In general, by their situation or following the explosion in the price of cryptos, these tourists have a certain purchasing power, which would ensure income for the country.
In concrete terms, the idea would therefore be to install cryptomonic infrastructures at key tourist locations. Tourists would then be able to easily carry out cryptos transactions.
« If we can prepare the country for the cryptomoney market, it will create more opportunities to attract tourists with high purchasing power, especially the young and the rich. »
Yuthasak Supasorn, Governor of the Tourism Authority of Thailand
A crypto ecosystem, the new tourism argument?
We knew the value of crypto-money in times of crisis. But, with the example of Thailand, we can also see that cryptomoney, strengthened by its success, can now be used as a marketing advantage to revive a whole section of a national economy.
In the case of Thailand, the idea came above all from its proximity to Japan. Indeed, Japan is one of the countries with the most crypto users in the world. It is estimated that about 11% of Japanese people own cryptomoney, compared to a world average of 7%. By becoming a country at the forefront of cryptos, Thailand would inevitably become a destination of choice for many Japanese.
Given Thailand’s many natural riches, this would certainly bring a massive influx of tourists from all over the world! Moreover, in a humorous tone, Yuthasak Supasorn, governor of the TAT, stressed that even Elon Musk « could be interested in visiting Thailand » from now on! This year, the government expects 8 million tourists from abroad. To reach its goal, the government has planned to launch a large-scale advertising campaign starting in April 2021! Certainly, cryptography and Bitcoin will be part of this campaign…