A report by CoinsPaid highlights the growing demand for crypto payment solutions in the travel sector. According to data from Traders of Crypto, 11.5% of travel agencies accepted digital assets as payment in 2024, making the travel industry the leading sector for crypto adoption among those surveyed.
The report also noted a strong post-pandemic recovery in the travel industry, with international trips reaching 96% of pre-crisis levels by mid-2024. In the first seven months of the year, global travel volume surged by 11% compared to the previous year, totaling 790 million international trips.
Online travel agencies (OTAs) led the way in crypto payment integration throughout 2024. For instance, Travala reported a 46% increase in crypto bookings from January 2023 to January 2024. Additionally, studies suggest that 89% of travelers prefer airlines that offer payment options in their preferred currency.
Cryptocurrency has become a particularly convenient tool for instant transactions, especially for tour operators in remote locations and niche travel markets like ecotourism and adventure tours. Digital assets are also gaining traction in luxury travel, particularly for charter bookings, private island rentals, and exclusive services, where transaction speed, privacy, and security are crucial.
Despite the increasing adoption of crypto payments, CoinsPaid analysts emphasized that consumer demand still far exceeds supply, presenting opportunities for further expansion of cryptocurrency transactions in the tourism industry.
The benefits of crypto payments for travelers were also highlighted by Max Krupyshev, CEO of CoinsPaid, during the Purpose Driven FinTech podcast. He noted that cryptocurrency enables fast and low-risk transactions, making it especially useful for paying for accommodations in “exotic locations.”
Travala, featured in the CoinsPaid report, recently partnered with Trivago, allowing users to book accommodations at 2.2 million hotels worldwide using over 100 different cryptocurrencies.
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