Cryptocurrency users bring three times the lifetime value of fiat currency users to the tourism industry, according to a joint report from Binance Pay and crypto travel platform Travala. Here’s the breakdown:
Higher spending per transaction: Travelers using cryptocurrency for bookings spend more than twice as much as those using fiat money.The average booking value for crypto users on Travala was $1,211 per transaction, which is over 2.5 times more than the $469 spent by fiat users.
Longer stays and higher repeat bookings: Crypto users tend to have longer stays and are more likely to make repeat bookings. Crypto travelers are 57% more likely to make a repeat hotel purchase, which contributes to their higher lifetime value.
Juan Otero, the CEO of Travala, attributes these travel preferences to the flexible nature of web3 jobs. Many crypto users work in the digital asset industry or have flexible, remote work lives, which makes them more likely to travel frequently and stay in one place for longer while seeking out locations that support seamless, global payments.
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