Financial Times: The crypto boom drives the prosperity of the luxury tourism market, and young entrepreneurs become the main consumer force

PANews August 31 news, according to the Financial Times, as Bitcoin prices soar, financially-heavy young entrepreneurs have triggered a boom in the global luxury travel market, and more private jets and ultra-luxury cruise operators have also begun to accept cryptocurrency payments. According to McKinsey's analysis, people aged 30 to 40 will spend $28 billion on luxury travel in 2023, and are expected to reach $54 billion by 2028. Flexjet chairman Kenn Ricci said the “huge” demand from young and affluent customers has prompted Flexjet’s FXAIR to accept cryptocurrency payments. FXAIR flights from Famburgrow Airport near London to New York City cost about $80,000. Ricci said Flexjet bookings have grown “significantly” in recent months, and these bookers are “young entrepreneurs in the Bitcoin space who fly further and want bigger planes. We save them time, and time is the most precious luxury.” Luxury cruise company Virgin Voyages’ $120,000 annual pass is now available for purchase via cryptocurrency payment. Meanwhile, SeaDream Yacht Club, which operates two super luxury yachts and has a crew-to-passenger ratio of nearly 1:1, began accepting Bitcoin payments shortly after Trump began his second term. Boutique hotel groups including Kessler Select Hotels Group in the United States and Pavelliens Hotels and Resorts in Hong Kong also accept tokens such as Dogecoin, Litecoin and Ethereum.