Central bank digital money (CBDM) uses among patrons in hospitality and tourism

Abstract

An industrial trend regarding a surging amount of attention to central bank digital money (CBDM) by government bodies and consumers has recently been observed. The aim of this study is to assess the roles of the antecedents and moderators, which include fear of missing out, confidence of CBDM in the digitalized era, and attachment to CBDM, in regards to predicting CBDM adoption within the framework of the theory of planned behavior and the five phases of the consumer adoption process in order to keep up to date with this rapidly changing industrial trend. Data sets from 515 respondents were collected for empirical analyses via an online panel survey in order to achieve the research objectives. The results revealed that the relationships between the five stages and CBDM adoption were significant. The moderating effects of confidence in CBDM within the age of digitalization and attachment to CBDM were also observed. This study is an initial attempt to assess the reactions of consumers to CBDM adoption and helps explain the psychological structures of consumers that are related to adopting new technology and diverse decision making.