Thailand is one of the top tourist destinations in the world, and every year millions of people visit the country. Tourism remains one of the biggest drivers of the Thai economy. Like most other tourism-dependent countries in the world, it took a severe hit during the coronavirus pandemic. To deal with this situation and continue the inflow of revenue, the Tourism Authority of Thailand (TAT) planned to roll out its own utility token – the TAT Coin. It is a part of Thailand’s crypto-tourism campaign and is very close to becoming a reality. TAT Coin is now being inspected by the Thailand Stock Exchange. Once the stock exchange gives it a nod, it will only need the government’s approval to be a reality. TAT is working closely with private crypto service providers and will soon become functional.
The TAT Coin initiative by the Thai government shows once again how fast crypto is spreading to different parts of the world. The potential of cryptocurrency is huge in Asia, especially due to the booming economy and a huge population comfortable with smartphone technology. Over the next few years, more and more Asian countries will lead global Bitcoin and cryptocurrency markets. According to officials from the Tourism Authority of Thailand, the TAT token will attract digital nomads who want to travel the world with cryptocurrencies. They also project a significant rise in Thailand’s GDP after the issuance of TAT Coin, and it can increase by a much as 6 times the present rate.