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Integration of Blockchain Technology in Tourism Industry: Opportunities and Challenges

In: Tourism, Travel, and Hospitality in a Smart and Sustainable World

Author

Listed:
  • Constantinos Halkiopoulos

    (University of Patras)

  • Hera Antonopoulou

    (University of Patras)

  • Nikos Kostopoulos

    (University of Patras)

Abstract

Tourism is crucial to people’s everyday life and the global economy. However, despite its significance, the conventional tourism business confronts significant development obstacles. Consequently, incorporating digital technology into the traditional tourism business in order to further cut costs and increase efficiency is regarded as an absolute necessity. As a nascent technology, blockchain has the potential to revolutionize the tourism sector since it provides a secure platform connecting the tourism business and its customers (employees and tourists). Through this endeavor, a comprehensive literature assessment on blockchain technology in smart tourism will be conducted. In addition, the Internet of Things (IoT) and large-scale analytics can be utilized to enhance the tourist experience. It is important to note that during the COVID-19 pandemic, the tourism industry’s issues were more standardized. Therefore, the conventional tourism business should be swiftly modernized. From the perspective of smart tourism, blockchain can serve as a platform that reliably and efficiently connects travelers with tourism products.

Suggested Citation

  • Constantinos Halkiopoulos & Hera Antonopoulou & Nikos Kostopoulos, 2023. "Integration of Blockchain Technology in Tourism Industry: Opportunities and Challenges," Springer Proceedings in Business and Economics, in: Vicky Katsoni (ed.), Tourism, Travel, and Hospitality in a Smart and Sustainable World, pages 353-368, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-26829-8_22
    DOI: 10.1007/978-3-031-26829-8_22
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    More about this item

    Keywords

    Blockchain; Smart tourism; Tourism industry; Innovative platforms; Tourist experience; Data analytics;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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