Digital Currency in Tourism Markets in Thailand

Abstract

 The spread of   Coronavirus -19 has created new normals, particularly social distancing and work from home, resulting in more online transactions including payment via online banking. In Thailand, the use of cryptocurrencies has therefore received attention from banks, business operators  and customers. The researcher of this study was interested in looking into the issues on knowledge and understanding, confidence and possibility of cryptocurrencies in the tourism markets.  The participants in the study were 400 from operators of small, medium and large tourism businesses on a voluntary basis.  The size of the participants was supported by the criteria developed by Comray & Lee (1992) and Bryant & Yarnold (1995). The use of a constructed questionnaire with 5 levels had  an IOC value at .095.  The researcher developed a statistical model using multilayer perception to predict the cryptocurrency trend in the Thailand’s tourism markets. The obtained data were analyzed on SPSS Version 7.42 to secure parameters to explain the cryptocurrency trend under study. The results showed the participants having a positive outlook toward digital currency in facilitating reservations of and payments for travel products and services, transportation, entertainment programs, shopping and restaurants.  

Keywords: Digital currency, cryptocurrency, marketing, tourism business booking, product and service payment