The Relationship between the Number of Cryptocurrency Acceptance Sites and the Intensity of Tourism in Terms of Legal Regulation

Marcell Kupi – Department of Tourism and Hospitality, Kautz Gyula Faculty, Széchenyi István University, Egyetem tér 1., Győr, Hungary

Viktoria Kundi – Department of Tourism and Hospitality, Kautz Gyula Faculty, Széchenyi István University, Egyetem tér 1., Győr, Hungary

Tamás Szabó – Department of International and European Law, Deák Ferenc Faculty of Law and Political Sciences, Széchenyi István University, Egyetem tér 1., Győr, Hungary

Abstract: The research delves into the nexus between cryptocurrencies and tourist activity, with a special focus on the facet of legal regulations. The study’s objective is to fathom how cryptocurrencies influence the tour­ism sector, and how legal standards bear on transactions involving crypto­currencies within the tourism industry.

The principal aim is to unravel the interconnection between the employment of cryptocurrencies in tourist services and its concurrent legal governance in four handpicked countries: Spain, France, Croatia, and the Netherlands.

Clustering was achieved through SOM and PCA methodologies, which, in unison, proffer profound insights into the data’s architecture and intercon­nectedness. The data was collected through scraping with an API key. The research underscores that blockchain technologies, including but not limit­ed to Ethereum’s advancements that extend beyond just Bitcoin, are steadi­ly gaining a more influential role in tourism. Moreover, legal guidelines, es­pecially within the EU, wield significant influence over transactions and op­erations associated with these digital assets.

7th International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2023 – Selected Papers, Hybrid (Faculty of Organization and Informatics Varaždin, University of Zagreb, Croatia), October 26, 2023

ITEMA Selected Papers published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ITEMA conference partners: Faculty of Economics and Business, University of Maribor, Slovenia; Faculty of Organization and Informatics, University of Zagreb, Varaždin; Faculty of Geography, University of Belgrade, Serbia; Institute of Marketing, Poznan University of Economics and Business, Poland; Faculty of Agriculture, Banat’s University of Agricultural Sciences and Veterinary Medicine ”King Michael I of Romania”, Romania

ITEMA Conference 2023 Selected Papers: ISBN 978-86-80194-76-9, ISSN 2683-5991, DOI: https://doi.org/10.31410/ITEMA.S.P.2023

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.

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