The tourism industry saw significant adoption of cryptocurrency payments in 2024, yet consumer demand for such payment tools still far exceeds current availability.
CoinsPaid released a report highlighting the increasing demand for crypto payment solutions in the travel sector. According to Traders of Crypto, 11.5% of travel agencies accepted digital assets as payment in 2024, making it the leading industry for crypto adoption among all surveyed sectors.
The report noted a strong recovery in the travel industry post-pandemic, with international trips reaching 96% of pre-crisis levels by mid-2024. During the first seven months of 2024, global travel volume exceeded the previous year’s figures by 11%, reaching 790 million international trips.
Online travel agencies (OTA) were at the forefront of crypto payment integration in 2024. For instance, Travala reported a 46% increase in crypto bookings from January 2023 to January 2024. Studies also indicate that 89% of travelers prefer airlines that offer payment options in their preferred currency.
Cryptocurrency became a highly convenient tool for instant transactions, especially for tour operators working in remote locations and niche travel markets, such as ecotourism and adventure tours. Digital assets are also gaining traction in luxury travel, particularly for charter bookings, private island rentals, and exclusive services, where speed, privacy, and security are critical for large transactions.
CoinsPaid analysts emphasized that, despite the growing adoption of crypto payments, consumer demand significantly outpaces current supply, presenting opportunities for further expansion of crypto transactions in tourism.
The convenience of crypto payments for travelers was also highlighted by Max Krupyshev, CEO of CoinsPaid, during the Purpose Driven FinTech podcast. He pointed out the ease of paying for accommodations in “exotic locations” using cryptocurrency, which enables fast and low-risk transactions worldwide.
Travala, mentioned in the CoinsPaid report, recently partnered with Trivago, allowing users to book rooms at 2.2 million hotels worldwide using over 100 different cryptocurrencies.
