Leveraging Fintech Innovations for Post-COVID-19 Tourism Recovery in Asia: Lessons and Opportunities for Africa

David Mhlanga and Anupama Sethi ()
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David Mhlanga: The University of Johannesburg
Anupama Sethi: Monash Business School

Chapter Chapter 12 in Tourism and Hospitality for Sustainable Development, 2024, pp 191-216 from Springer

Abstract: Abstract The global tourism industry saw significant repercussions as a result of the COVID-19 pandemic, leading to the depletion of airport activity, the abandonment of popular tourist destinations, and heightened levels of concern within the corporate sector. The tourist sector in Asia experienced a resurgence as a result of widespread vaccine distribution and the easing of travel restrictions, propelled by the advancements in Financial Technology (Fintech). Fintech advancements such as touchless payment systems, digital identity authentication, and blockchain-based travel documentation play a crucial role in fulfilling the health and safety requirements of travellers. This chapter explores the utilization of Fintech in Asia as a means to revitalize the tourism industry in the aftermath of the pandemic. Additionally, it sheds light on the potential repercussions and opportunities that may arise for Africa as a result. The adoption of financial technology (Fintech) is crucial for Africa to not only regain its previous dominance in the tourist industry before the pandemic but also to establish a progressive and forward-looking trajectory in this sector.

Keywords: COVID-19; Fintech; Tourism (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-63069-9_12

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DOI: 10.1007/978-3-031-63069-9_12

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