Digital nomads may be key to boosting Thailand’s economy and real estate

Cryptocurrency’s growth potential could serve as a new alternative to real estate trading  

With the boom of cryptocurrency, experts say that it could be incredibly beneficial to Thailand’s real estate market, serving as a new alternative to real estate trading, reported The Thaiger.  

In addition to cryptocurrency, digital nomads can also help boost the real estate market, as it will support trading stimulation in the country.  

According to a CEO of an investment property developer, people who invest in crypto are considered as a group with high purchasing power. “ 

The real estate industry should not ignore investors of this new generation, as they can generate a huge income if they can be attracted to buy property in Thailand.  

Moreover, as Club Med recently voted Thailand as the best country to live in for digital nomads, allowing such workers to stay may be the key to boosting the economy. 

Despite digital nomads being one of the four high-quality tourist demographics for Thailand’s tourism, there still isn’t a legal visa for those working remotely for countries abroad.  

WorkMotion says that technology is ready for remote work, and the pandemic has induced the market for offsite workers worldwide to continuously grow in the future.  

In an effort to boost the economy, Thailand has recently approved the digital nomad visa and three other new types of visas.  

More: Easing of mortgage rules in Thailand to increase loans by $1.5M per year

Furthermore, current laws do not allow foreigners to buy land or property, but new laws would help ease the obstacles for those approved groups, which include wealthy travellers, retirees, and highly-skilled workers.  

The new property ownership laws seem similar to the U.S.-Thailand Treaty of Amity, which gives special privileges to Americans on Thai soil, and vice versa.