According to the Bangkok Post, Thailand’s Tourism Authority (TAT) is currently examining whether a utility token could have a positive impact on the country’s travel industry. The use case of such a token is so far only that vouchers could be converted into digital tokens. The digital infrastructure and expertise of tourism providers need to be prepared before launch, as the traditional business model may not be able to keep pace with the new change, according to Yuthasak Supasorn (Chairman of TAT). A discussion between the stock exchange and the TAT is also taking place.

Tourism represents an important economic role for Thailand. In 2019, it accounted for 8. 36% of GDP. The utility token could improve the country’s crypto atmosphere and the competitiveness of the tourism industry, Suparson says.