The Impact of Business Travelers' Perceived Benefit on Cryptocurrencys Future Adoption:A case study of MICE Travelers in Thailand

Abstract

This study explores the impact of business travelers' perceived benefits on future cryptocurrency adoption, focusing on Thailand's MICE (Meetings, Incentives, Conferences, and Exhibitions) travelers. The objective is to understand how perceived benefits influence the inclination of business travelers within the MICE sector to adopt cryptocurrency for financial transactions. The theoretical framework draws inspiration from the Theory of Reasoned Action (TRA) and integrates insights from Md Husin et al. (2019) and Chen et al. (2022). The TRA serves as a foundation, emphasizing the role of perceived benefits in shaping behavioral intentions. This study builds upon previous research, adapting and extending these theoretical perspectives to the specific context of cryptocurrency adoption among MICE travelers. The sample comprises individuals within the MICE industry with business travel experience, chosen for their unique insights into the dynamics of financial transactions within this sector. Data collection utilizes an online questionnaire distributed through Google Forms; incomplete data was eliminated with a final sample of 394 samples. The study employs Structural Equation Modeling (SEM) for its suitability in capturing the complex relationships among variables in the Mplus program. The study employs Structural Equation Modeling (SEM) due to its suitability for capturing complex relationships among variables. Data cleaning involves parametric analysis to address outliers, ensuring data integrity. Reliability and validity assessments guarantee the robustness of the dataset. Demographic information is considered for sample relevance. Findings reveal a significant disconnect between transparency (TR) and business travelers' perceived benefits (BTPB), highlighting a key area for further investigation. Transaction process (TP), price value (PV), and attitude (AT) positively influence business travelers' perceived benefits (BTBP), with the latter demonstrating a strong positive impact on future adoption (FA). This research contributes to the evolving discourse on cryptocurrency adoption in the context of business tourism, offering nuanced insights and practical implications for industry stakeholders, policymakers, and researchers. The study concludes with a comprehensive discussion of considerations, acknowledging limitations and suggesting avenues for future research.This study explores the impact of business travelers' perceived benefits on future cryptocurrency adoption, focusing on Thailand's MICE (Meetings, Incentives, Conferences, and Exhibitions) travelers. The objective is to understand how perceived benefits influence the inclination of business travelers within the MICE sector to adopt cryptocurrency for financial transactions. The theoretical framework draws inspiration from the Theory of Reasoned Action (TRA) and integrates insights from Md Husin et al. (2019) and Chen et al. (2022). The TRA serves as a foundation, emphasizing the role of perceived benefits in shaping behavioral intentions. This study builds upon previous research, adapting and extending these theoretical perspectives to the specific context of cryptocurrency adoption among MICE travelers. The sample comprises individuals within the MICE industry with business travel experience, chosen for their unique insights into the dynamics of financial transactions within this sector. Data collection utilizes an online questionnaire distributed through Google Forms; incomplete data was eliminated with a final sample of 394 samples. The study employs Structural Equation Modeling (SEM) for its suitability in capturing the complex relationships among variables in the Mplus program. The study employs Structural Equation Modeling (SEM) due to its suitability for capturing complex relationships among variables. Data cleaning involves parametric analysis to address outliers, ensuring data integrity. Reliability and validity assessments guarantee the robustness of the dataset. Demographic information is considered for sample relevance. Findings reveal a significant disconnect between transparency (TR) and business travelers' perceived benefits (BTPB), highlighting a key area for further investigation. Transaction process (TP), price value (PV), and attitude (AT) positively influence business travelers' perceived benefits (BTBP), with the latter demonstrating a strong positive impact on future adoption (FA). This research contributes to the evolving discourse on cryptocurrency adoption in the context of business tourism, offering nuanced insights and practical implications for industry stakeholders, policymakers, and researchers. The study concludes with a comprehensive discussion of considerations, acknowledging limitations and suggesting avenues for future research.