Does Central Bank Digital Currency (CBDC) Payment Create The Opportunity For the Tourism Industry?

Abstract

This research investigated perceived risks associated with central bank digital currency (CBDC) payment innovations and their effect on travelers’ adoption behavior, considering personal and product characteristics. This quantitative study determined that perceived risks, including financial, performance, privacy, psychological, and time risks, have an adverse effect on attitudes toward CBDC payment, which, in turn, affects the intention to adopt. In addition, this study underlined the moderating roles of consumer innovativeness, previous experience, structural assurance, and media encouragement in the link between perceived risk and attitude. The results advanced the understanding of travelers’ intention to use CBDC to pay for tourism products and services.

Keywords

central bank digital currency (CBDC)perceived risk attitude consumer innovativeness previous experience structural assurance media encouragement

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