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Cryptocurrency adoption in travel and tourism – an exploratory study of Asia Pacific travellers

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  • Horst Treiblmaier
  • Daniel Leung
  • Andrei O. J. Kwok
  • Aaron Tham

Abstract

Blockchain technologies are predicted to substantially transform the tourism industry. At present, cryptocurrencies are the most advanced application of public blockchains that promise benefits such as a universal means of payment and minimal fees through the removal of intermediaries. In the tourism industry, though many tourism vendors have been accepting cryptocurrencies and the potential of using cryptocurrencies in travel-related consumption has been intensively documented, existing knowledge about travellers’ intention to use cryptocurrencies for payment purposes is limited. Traditional models do not account for the idiosyncrasies of cryptocurrencies and are therefore less appropriate to foster the understanding of travellers’ adoption of travel-related payments. To fill this knowledge gap, an exploratory study was conducted with 161 travellers from the Asia-Pacific region who have previously consumed travel-related services with cryptocurrencies. Their previous usage experiences are analysed and reported. Through harnessing the correspondence analysis, several technological contingency factors were identified, as well as positive and negative perceptual antecedents. Additionally, their levels of satisfaction and intention to re-use the technology in future trips were investigated. Based on these findings, several propositions are suggested for guiding future research on travellers’ cryptocurrency adoption in the travel and tourism contexts.

Suggested Citation

  • Horst Treiblmaier & Daniel Leung & Andrei O. J. Kwok & Aaron Tham, 2021. "Cryptocurrency adoption in travel and tourism – an exploratory study of Asia Pacific travellers," Current Issues in Tourism, Taylor & Francis Journals, vol. 24(22), pages 3165-3181, November.
    • Handle: RePEc:taf:rcitxx:v:24:y:2021:i:22:p:3165-3181
    DOI: 10.1080/13683500.2020.1863928
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    References listed on IDEAS

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    7. Sean Foley & Jonathan R Karlsen & Tālis J Putniņš, 2019. "Sex, Drugs, and Bitcoin: How Much Illegal Activity Is Financed through Cryptocurrencies?," The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1798-1853.
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    1. Eugene Bland & Chuleeporn Changchit & Robert Cutshall & Long Pham, 2024. "Behavioral and Psychological Determinants of Cryptocurrency Investment: Expanding UTAUT with Perceived Enjoyment and Risk Factors," JRFM, MDPI, vol. 17(10), pages 1-22, October.
    2. Manahov, Viktor & Li, Mingnan, 2024. "Stablecoins: New perspectives for travel and tourism," Annals of Tourism Research, Elsevier, vol. 107(C).
    3. Treiblmaier, Horst & Petrozhitskaya, Elena, 2023. "Is it time for marketing to reappraise B2C relationship management? The emergence of a new loyalty paradigm through blockchain technology," Journal of Business Research, Elsevier, vol. 159(C).
    4. Ankit Dhiraj & Sanjeev Kumar & Divya Rani & Simon Grima & Kiran Sood, 2023. "Blockchain Payment Services in the Hospitality Sector: The Mediating Role of Data Security on Utilisation Efficiency of the Customer," Data, MDPI, vol. 8(8), pages 1-14, July.

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