Utilization of Fintech in Selected Tourism Establishment in Bongabong, Oriental Mindoro

Abstract

Assessing the role of FinTech in the tourism sector is crucial for creating value and driving economic growth. This study focused on examining the business profile and utilization of FinTech in tourism establishments located in Bongabong, Oriental Mindoro. Employing a descriptive-correlational research design, data were collected through a self-made questionnaire, participated by 15 tourism establishments. The collected data were analyzed using frequency, weighted mean, and Pearson's r. The correlation analysis indicated that there was no significant relationship observed between the business profile and the utilization of FinTech in terms of organization management and customer management. This suggests that the adoption and utilization of FinTech in these areas may not be strongly influenced by the specific characteristics of the establishments. These results emphasize the importance of further research and exploration to better understand and enhance the utilization of FinTech in the tourism sector. It is essential to explore alternative factors or strategies that could facilitate the effective integration of FinTech solutions. Future studies could consider investigating other variables that may influence the adoption and utilization of FinTech, such as technological readiness, regulatory environment, or customer preferences. The study's implications highlight the significance of considering the unique characteristics and needs of tourism establishments when implementing FinTech solutions. This may ultimately lead to improved operational efficiency, enhanced customer experiences, and increased competitiveness in the tourism industry in Bongabong, Oriental Mindoro.