To push the tourism industry battered by the COVID-19 pandemic, Thailand recently said that it was teaming up with local cryptocurrency companies and exchanges to begin accepting the digital coins for travel. This form of tourism, known as crypto tourism, caters to enthusiasts of virtual coins by offering them packaged tours that can be paid for with digital currency. By using Bitcoin and other cryptocurrencies, travellers can make payments seamlessly while avoiding high ATM fees, currency conversion rates, etc.
According to a Bloomberg report, the Tourism Authority of Thailand (TAT) was planning to target newly-minted crypto millionaires. Thailand Governor Yuthasak Supasorn said that if “people who have become wealthy from holding digital currencies” can use the coins “without having to exchange it or be faced with government taxes, then it would create convenience for them”.
What is crypto tourism?
Crypto tourism is a form of travel in which cryptocurrency enthusiasts or investors use the coins to pay for their travels. So, if you hold cryptocurrencies like Bitcoins, you can use them to pay for your hotel, food, and other amenities. Cruises with a variety of amenities for cryptocurrency enthusiasts are also included in some of the programmes.
For instance, the tourism arm of CoinsBank, a blockchains solution provider based in Edinburg, Scotland, organised blockchain cruises in the past that gained a lot of attention. The last cruise was held between June 9 and 13, 2019. The voyage began in Barcelona and ended in Rome. The global conference was held on Royal Caribbean's Oasis of the Seas, which made stops in Palma de Mallorca, Marseille, and La Spezia. The event drew decision-makers together for four days of panel discussions and other activities.
Travellers utilising digital coins on vacations is another type of cryptocurrency tourism. A few tour companies in Queensland, Australia, have incorporated cryptocurrency in their holiday packages to experience the Great Barrier Reef. Tourists were able to book reef tours, surfing lessons, and environmental trips using digital currencies.
This year, in September, El Salvador became the first country to adopt Bitcoin as a legal curreny. This could be a game-changer for travel cryptocurrency if more countries follow suit.