Integration of Blockchain Technology in Tourism Industry: Opportunities and Challenges

Abstract

Tourism is crucial to people’s everyday life and the global economy. However, despite its significance, the conventional tourism business confronts significant development obstacles. Consequently, incorporating digital technology into the traditional tourism business in order to further cut costs and increase efficiency is regarded as an absolute necessity. As a nascent technology, blockchain has the potential to revolutionize the tourism sector since it provides a secure platform connecting the tourism business and its customers (employees and tourists). Through this endeavor, a comprehensive literature assessment on blockchain technology in smart tourism will be conducted. In addition, the Internet of Things (IoT) and large-scale analytics can be utilized to enhance the tourist experience. It is important to note that during the COVID-19 pandemic, the tourism industry’s issues were more standardized. Therefore, the conventional tourism business should be swiftly modernized. From the perspective of smart tourism, blockchain can serve as a platform that reliably and efficiently connects travelers with tourism products.