Phuket Tourism Association (PTA) and the Bank of Thailand are studying the possibility of cryptocurrency payments for Russian tourists in light of financial sanctions imposed on the country for its invasion of Ukraine. The Nation Thailand reports.
As a result of restrictions imposed in the Russian Federation, major payment networks have ceased operating, including PayPal, Visa and Mastercard.
PTA head Bhummikitti Ruktaengam noted that digital assets are being considered as an emergency measure. In the first instance, the industry hopes to use the Russian Mir payment system and China’s UnionPay.
According to him, Phuket hosts about 3,500–4,000 Russian tourists and 300–400 from Ukraine. Another 3,000 nationals from both countries are holidaying in Koh Samui, Krabi and Pattaya.
Flight disruptions prevent them from leaving Thailand, and many may be left without funds.
According to the report, the cabinet intends to discuss aid options, including the creation of support centres and shelters. Authorities will also consider organising repatriation flights.
The government is discussing waiving visa extension fees but is considering increasing the maximum stay from 30 days. At the same time, authorities assured that no one will be deported against their will.
Back in November 2021, the Thai tourism regulator announced the creation of its own token in the industry, the TAT Coin.