as a guideline to revitalize the tourism sector Thailand is trying to attract crypto millionaires with tax cuts. Bitcoin To spice up the tourism industry that has been battered by the coronavirus pandemic.
Tourism Authority of Thailand is working on digital token approval. The agency is working with the country’s regulators and local crypto exchanges, according to Tourism Authority of Thailand governor Yuthasak Supasorn, which could help offset some of the revenue lost from the cryptocurrency exchange. Outbreak of the virus up to 80 billion dollars or 2.7 trillion baht.
“There are people who get rich by holding cryptocurrencies. And they may want to use the wealth they have earned,” Yuthasak said in an interview on Thursday. “If they can use their currency here wfh without exchanging or facing government taxes. It will be very convenient for them.”
However, it may take some time for travelers to start using Bitcoin, Ethereum and other digital tokens for travel. Because Thailand is like any other country. not provided cryptocurrencies legal money But state tourism agencies are laying the groundwork for wider acceptance as global travel returns to normal, Yuthasak said.
Yuthasak said it was currently in talks with the Securities and Exchange Commission, Bank of Thailand and Bitkub Online, the country’s largest crypto exchange. about such plans
Thailand, which is popular among tourists vacationing on a tropical island with pristine beaches and vibrant nightlife. It attracted nearly 40 million international tourists in 2019 and generated more than $60 billion in revenue. But the pandemic has forced the country to close its borders for more than a year. Before it reopened for vaccinated travelers last month
“Thailand needs to recover about 80% of its pre-epidemic tourism revenue by 2023. With just half the number of foreign visitors we saw in 2019, we will be able to achieve that by getting People like Russell Crowe or crypto holder Tim Cook come to visit here,” Yuthasak said.
Yuthasak said Thailand’s tourism industry will return to pre-Covid levels by 2024, adding that the country is targeting about 1 million high-spending tourists in the first quarter of next year. At the same time, it’s a bet that 10% of crypto holders will eventually come to Thailand.
“Crypto is the future, so we have to make Thailand a positive crypto society. to welcome this group of quality tourists,” said Yuthasak.
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