Today, Binance Pay and Travala.com unveiled fresh statistics that demonstrates the exponential development of the usage of cryptocurrency in the travel industry. The year 2024 will be a record year for bookings that are driven by cryptocurrency. Ahead of Bitcoin Pizza Day, the two platforms bring attention to the emergence of a new kind of travelers: those that prioritize digital experiences, are high-spending, and are motivated by loyalty.

A hotel stay that was paid for using AVA tokens was the first cryptocurrency travel booking conducted on Travala, which took place on July 20, 2018. The advent of a new kind of traveler was marked by that moment of silence, which heralded the beginning of something far higher in magnitude. Almost immediately after that, early adopters started using cryptocurrency as their preferred method of traveling across the globe. As, Gilles, a millennial crypto traveler from France who started booking with crypto in 2019, put it: “Crypto travel is your ticket to freedom. No banks, no borders, just fast, low-cost access to your money anywhere.”

Fast forward to the present day, and crypto-powered travel has emerged as one of the most rapidly expanding sub-industries within the tourist sector. This growth is being driven by the need for experiences that are borderless and digital in nature.

Jonathan Lim, Global Head of Binance Pay stated:

“We’re seeing a clear shift from crypto as an investment tool to real-world utility — and travel is leading the way. Binance Pay is powering this transition by making digital payments global, fast, seamless, and cost-effective for a new generation of travelers who value freedom and flexibility.”

Juan Otero, CEO of Travala said:

“The borderless nature of crypto makes travel one of the most clear use cases for crypto, enabling Travala to provide seamless, real-world utility globally. In today’s landscape, where the global stablecoin transaction volume exceeds Visa and Mastercard’s combined volume, it’s clear that crypto is already a force to be reckoned with in the payments industry that will only continue to grow as it becomes more widely accepted.”

Because it is the most widely used cryptocurrency payment mechanism, Binance Pay is helping to propel the expansion of the cryptocurrency travel industry.

*This ranking only takes into account external payment methods; it does not take into account direct cryptocurrency payments as those made using Travala Wallet or Travel Credits.

Crypto tourists are forming a new travel demography that is characterized by increased expenditure, impulsive booking behavior, longer trips, and greater loyalty.

• Crypto travelers tend to stay for longer: It is three and a half times more probable that they will schedule stays of three nights or longer when it comes to accommodations.
• Travelers who use cryptocurrency have a greater rate of repeat purchases: Compared to users of fiat currency, crypto travelers are 57% more likely to book another hotel on Travala after they have made their first reservation.

Cryptocurrency tourists are redefining the travel landscape by selecting cities that are internationally linked and places that are receptive to cryptocurrency.

During the year 2024, the cities of Dubai, Bangkok, London, Tokyo, and Paris were the most frequently booked destinations for cryptocurrency users. These cities are internationally linked and have robust digital infrastructures.

Travel that is driven by cryptocurrency is also seeing a growth in digital nomad hotspots such as Lisbon, Barcelona, and Mexico City, which are places where remote workers are adopting borderless lives.