170% Surge In Crypto Travel Revenue For Australian Tourism Economy

170% Surge In Crypto Travel Revenue For Australian Tourism Economy

Australia’s international travel is for now off the cards, however, domestic travel is slowly opening up in some states.

A new partnership between Expedia and Travala has come to the rescue and could see domestic crypto travellers boost the travel industry revenue drastically.

Travala, Australian owned online travel agency is now accepting Bitcoin (BTC) payments through a new partnership with international travel booking giant Expedia.

This new partnership will boost the travel industry by an estimated 170 percent, and deliver a much-needed digital currency injection into the Australian tourism industry.

Since Australia’s international travel ban has been in place, and has recently been extended until September 16th 2020, Australian tourism businesses have lost 15 billion in revenue. This new partnership and development comes at a great time, and they are turning to domestic travellers to recuperate the travel industry.

Through Travala, Australian domestic travellers are now able to pay for accommodation in over 30 cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin and Travalas crypto token, AVA.

Travala tweeted on July 6th 2020;

“#Travala Partners with #Expedia to offer frictionless crypto travel. Alfonso Paredes, Senior Vice President at Expedia Group, says: “Our aim is to support Travala to scale their business faster than ever before.”

Domestic Tourism Industry To Benefit From Crypto Payments

The Australian domestic cryptocurrency market is valued in excess of $5.9 billion, with over 300,000 active cryptocurrency users Australia wide. By introducing crypto payments as an option for travel, Travala has uniquely positioned themselves to provide the much needed capital flow into the Australian tourism industry that is needed.

Juan Otero, CEO and Co-Founder of Travala, commented on the positive impact that cryptocurrency payments would have on the tourism industry;

“Our latest month-on-month data shows consumer confidence and the desire for travel is returning, with an 81% increase in room nights booked and website traffic up 50% week-on-week.”

In Travala’s latest report, they revealed a 170 percent increase in booking revenue.

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