Unraveling the Crypto Trail: Transformative Impacts of Cryptocurrencies on Tourism

Tourism serves as a vital engine for the global economy, generating millions of jobs worldwide and driving investments in infrastructure. Additionally, it fosters cultural understanding between different societies and, for many countries, it represents a crucial strategy for economic diversification, reducing reliance on volatile resources like oil.

Cryptocurrencies in the tourism sector have opened up many possibilities for travelers, tourism companies, and vacation destinations. From booking flights and accommodations to paying for various recreational activities, cryptocurrencies like Bitcoin and Ethereum have become a legitimate form of payment throughout the tourism value chain. Moreover, some companies within this industry are encouraging cryptocurrency payments by offering special discounts, thus accelerating their adoption.

It’s no surprise that cryptocurrencies have found their way into the tourism industry. As travelers plan their adventures, all they desire is to disconnect from the routine and enjoy stress-free experiences. Cryptocurrencies not only simplify your life by reducing intermediaries but also offer a high level of anonymity and security. After all, decentralization lies at the core of this technology.

By embracing cryptocurrencies as a form of payment, tourism service providers can expand their customer base and streamline various operations, thereby reducing both the time and costs associated with payment processing. Several companies could set themselves apart from the competition by demonstrating their knowledge of the latest technological trends and offering the most reliable and transparent purchasing experience.

If you’re wondering about specific cases of tourism companies accepting cryptocurrencies, here are some mentions:

In May 2023, it was revealed that Despegar, a leading company in Latin American travel, had partnered with Binance to introduce cryptocurrency payments through Binance Pay. This collaboration includes support from Inswitch, the company responsible for converting cryptocurrencies to fiat currency. At that time, it emerged that among Despegar users who paid with crypto in Argentina, Mexico, and Colombia, 83% purchased plane tickets, 6% engaged in activities and transfers, another 6% opted for hotels, 3% leaned towards tourist packages, and 2% went directly to car rentals.

CheapAir stood out as one of the earlycomers in the crypto sector, having started accepting Bitcoin back in 2013. However, it wasn’t until May 2018 that they expanded their horizons and embraced Bitcoin Cash, Litecoin, and Dash. During this time, the company, known for offering budget flights, accommodations, and car rentals, acknowledged the challenges of accepting cryptocurrencies on behalf of airline and hotel providers, many of whom preferred payments in fiat currency. Nevertheless, much of the difficulties had already been overcome, largely thanks to Bitcoin.

Two years after CheapAir announced the integration of Bitcoin into its platform, Destinia followed suit by welcoming the leading cryptocurrency for payment of low-cost flights. Users can access the section created on their website to learn more about this topic. There, they explain how to make purchases with BTC and also mention that car rentals, cruises, some hotels, and certain airlines are not included in the crypto payment service. It’s worth noting that Destinia is not an airline but an agency that coordinates multiple tourism services.

“Tourism is the best way to learn about the world’s cultures and promote peace between them”.

-Manal Ataya.

Entering into current trends, it was revealed just a few days ago that Travala, a crypto-friendly travel agency, has introduced a new Bitcoin rewards system for users who have reached the Smart Diamond level in their loyalty program, managed by the AVA Foundation’s Blockchain platform. Rewards are credited to the user’s account within 24 hours after the completion of a trip, and customers can easily use these cryptocurrencies to pay for other services within the platform or withdraw them to their preferred wallet. It’s worth noting that only a finite number of people will be able to access this program, as activating Smart Diamond membership requires acquiring a Travel Tiger NFT and staking 2,500 AVA tokens… There are only 1,000 Travel Tiger NFTs in existence.

Tourism is moving towards a more decentralized and efficient future. Cryptocurrencies have not only revolutionized how we pay for our travels but also fundamentally changed the travel experience – from planning and booking to enjoying our adventures. This trend is spurring innovation in the sector, with some platforms using smart contracts to ensure transaction transparency and security, while others offer highly attractive rewards programs.

In some cases, it’s unnecessary to wait for certain companies to officially accept crypto, given the extensive range of options available today. Take Airbnb, for instance, one of the most popular brands for tourists worldwide. Although the lodging company may not directly accept cryptocurrencies as a payment method, if you’re a resident of the United States, you can easily go to Bitrefill and purchase a gift card. These gift cards can then be redeemed on Airbnb’s website or mobile app. Bitrefill accepts payments in various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dogecoin, and Dash, as well as stablecoins like USDC and USDT.

We bid you farewell, wishing you the utmost enjoyment on your upcoming vacations. Remember to plan to prevent rushing and desperation later on, and be sure to bring along your mobile devices such as tablets and laptops. This will allow you to comfortably read the educational content we upload every week and stay updated on the latest news about Hamza.biz, the first Web3 e-commerce powered by the Loadpipe protocol. Follow us on our social media channels and click here to view the roadmap we have planned for Hamza.