Cryptocurrencies Are Forecasted To Transform The Tourism Industry Hugely

Wednesday, December 6, 2023

The report of “Cryptocurrencies in Travel and Tourism – Thematic Intelligence” has been added to the offerings of ResearchAndMarkets.com.

The globalization and digitization of tourism are both increasing the demand for easy-to-use and inexpensive processes related to international transaction and payment systems. Blockchain technologies are forecasted to considerably alter the tourism industry.

Tourists are starting to discover that cryptocurrencies provide opportunities by streamlining cross-border dealings and prevailing over the associated international currency exchange costs. At this moment, cryptocurrencies are the most progressive application in terms of public blockchains that assures benefits
like worldwide payment and negligeable fees via removal of mediators. Trust is important in the usage of cryptocurrencies.

Even though there are no reliable intermediaries, users are required to trust the system of payment in general, as apparent trustworthiness dominates the usage of cryptocurrencies.

Although, in tourism many vendors have been accepting cryptocurrencies and the possibility of cryptocurrency usage in travel-related consumption has been intensively recognized, current knowledge about the intention of the travelers to use cryptocurrencies for payment reasons is restricted. Traditional models do not account for the peculiarities in terms of cryptocurrencies and are therefore less suitable to grow the understanding of travelers’ acceptance of travel-related payments.

« Back to Page

• Bitlux reveals 1 in 3 private jet flights booking using cryptocurrency