Investigation of the relationship between cryptocurrency acceptance points and tourism in EU regions

Marcell Kupi

doi:10.24294/jipd.v8i8.4637

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Investigation of the relationship between cryptocurrency acceptance points and tourism in EU regions

Marcell Kupi

Journal of Infrastructure Policy and Development 2024, 8(8), 4637; https://doi.org/10.24294/jipd.v8i8.4637

Submitted：13 Feb 2024

Accepted：09 Apr 2024

Published：14 Aug 2024

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Abstract

This study examined the role of cryptocurrencies in tourism and their acceptance across EU regions, with particular attention to the digital transformation precipitated by the COVID-19 pandemic. The analysis focuses on the relationship between cryptocurrency acceptance points and the intensity of tourism, highlighting that the acceptance of cryptocurrencies is significantly correlated with tourism services. The literature review highlighted that Web 3.0, especially blockchain technology and decentralized applications, opens new possibilities in tourism, including secure and transparent transactions, and more personalized travel experiences. The research investigated cryptocurrency acceptance points and the intensity of tourism within the EU. The study illuminates that the acceptance of cryptocurrencies significantly correlates with tourism services. The data and methodology demonstrated the analysis methods for examining the relationship between cryptocurrency acceptance points and tourism intensity, including the use of clustering neural networks and Eurostat data utilization. The results showed a positive correlation between the number of cryptocurrency acceptance points and tourism intensity in the EU, affirming the research hypothesis. According to the regression analysis results, each additional cryptocurrency acceptance point is associated with an increase in tourism intensity. The significance of the research lies in highlighting the growing role of digital payment solutions, especially cryptocurrencies, in tourism, and their potential impacts on the EU economy. The analysis supports that the intertwining of tourism and digital financial technologies opens new opportunities in the sector for both providers and tourists.

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References

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