London Daily

Focus on the big picture.
Thursday, Jul 10, 2025

Thailand Lays Groundwork for Crypto Tourism to Revive Industry

Thailand is one of the most desirable tourism destinations in the world, attracting super rich for luxury tourism as well as backpackers for its stunning nature, parks and islands. It’s well known for its amazing food, safety and super modern health services. The Tourism Authority of Thailand is working with the nation’s regulators and a local cryptocurrency exchange to pave the way for the acceptance of digital tokens for travel, according to its Governor Yuthasak Supasorn. That may help the tourism-reliant nation to recoup some of the $80 billion in lost revenue through the pandemic, he said.
Thailand is targeting newly-minted crypto millionaires to breathe life into its pandemic-battered tourism industry.

“There are people who have become wealthy from holding digital currencies and they may want to use the wealth they have accrued,” Yuthasak said in an interview on Thursday. “If they can use their currencies here without having to exchange it, or be faced with government taxes, then it would create convenience for them.”

Still, it may take a while before travelers can start using Bitcoin, Ethereum and other digital tokens for travel as Thailand, like many other nations, doesn’t recognize cryptocurrencies as a legal tender. But the state tourism authority is laying the groundwork for its wider acceptance by the time global travel returns to normal, Yuthasak said.

The authority will set up a new unit next year to handle the issuance of its own crypto coin, produce a wallet, and build a new tourism ecosystem, Yuthasak said. It is already in talks with the Securities and Exchange Commission, the Bank of Thailand and Bitkub Online Co., the nation’s largest crypto exchange, over the plan, he said.

Thailand, popular among holidaymakers for its tropical islands dotted with pristine beaches and a vibrant nightlife, drew almost 40 million foreign travelers in 2019, who generated more than $60 billion in revenue. But the pandemic saw the country shut down its borders for more than a year before reopening to vaccinated travelers from last month.

“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,” Yuthasak said.

While Thailand has allowed quarantine-free entry to travelers from more than 60 countries, tourism is likely to return to pre-Covid levels only by 2024, Yuthasak said. The nation is targeting about 1 million high-spending tourists in the first quarter of next year, he said, adding the authority was betting on 10% of crypto-holders to travel to Thailand eventually.

“Crypto is the future, so we must make Thailand a crypto-positive society to welcome this group of quality tourists,” Yuthasak said.
Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×