Travellers using cryptocurrency for booking arrangements spend more than twice as much as regular travellers using fiat money, according to a joint report from Binance Pay and crypto travel platform Travala.
Crypto-based bookings on Travala reached US $80 million in 2024, up from $45 million the previous year. Crypto travellers are also outspending their fiat counterparts, with an average booking value of $1,211 per transaction, more than 2.5 times more than fiat users who spend $469.
Additionally, the report revealed that crypto users were three times more valuable over their lifetime due to longer stays and higher repeat bookings, with crypto travellers 57% more likely to make a repeat hotel purchase.
Juan Otero, CEO of Travala, attributed these travel preferences to the flexible nature of Web3 jobs: “Many also work in the digital asset industry or have flexible, remote work lifestyles, which makes them more likely to travel frequently and stay in one place for longer while seeking out destinations that support seamless, global payments.”
The main benefit of using crypto for travel is its borderless, global utility, said Jonathan Lim, the global head of Binance Pay.
“Travelers can skip currency exchange lines, avoid foreign transaction fees, and pay instantly using assets they already hold,” he added.
A growing number of crypto users also drives the increase in travellers using crypto to pay for trips.
Triple-A’s report shows that cryptocurrency ownership has a compound annual growth rate of 99%, significantly outpacing the growth of traditional payment methods. Among crypto owners, 65% express interest in using it for payments.
