The Role of Cryptocurrency in Thailand’s Tourism Industry: Potential for Cross-Border Payments Role of Cryptocurrency in Thailand’s Tourism Industry: Potential for Cross-Border Payments
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This research aimed to 1) identify the impact of cryptocurrency adoption for cross-border payments in the tourism industry in Thailand and 2) explore the perspectives and experiences of industry experts and international travelers on the use of cryptocurrency for cross-border payments in the tourism industry in Thailand. The research used a mixed-methods approach, including quantitative econometric modeling and qualitative insights from focus group discussions. The results of the research are 1) cryptocurrency adoption has the potential to improve cross-border payments and have a positive impact on revenue for the tourism industry in Thailand. 2) The qualitative data revealed varying levels of awareness, with younger participants more accepting while older participants were more hesitant due to knowledge gaps and security concerns. Despite regulatory uncertainty and operational barriers, there is still hope for the future of cryptocurrency in the tourism industry in Thailand, highlighting the importance of regulatory clarity and awareness campaigns to unlock its potential.
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