Tourism Authority of Thailand considers utility token creation
Thailand is one of the world’s leading travel destinations. The number of international arrivals per year has grown continuously to reach millions and so has revenue from this sector. The Tourism Authority of Thailand (TAT), an agency of the Ministry of Tourism and Sports, is turning to technology and take advantage of the growing popularity of digital currencies by creating its own utility token.
The Thai economy has suffered the impact of the pandemic and the government seeks possible innovations to buffer the economic situation. In hopes of reviving the economy, which has been one of the slowest in East Asia and the Pacific, the Thai government recently announced they would waive the quarantine for vaccinated travellers in Bangkok and nine other provinces starting November 1.
Kiattipong Ariapruchya, the World Bank’s senior economist for Thailand, was quoted by media outlets saying, “The Thai economy will likely take longer to recover due to the delay in the return of foreign tourists.”
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