DUBLIN, June 4, 2021 / PRNewswire / – The “Global Online Travel Market 2021” report was added to ResearchAndMarkets.com offer.
The report “Global online travel market 2021”, details the impact of the coronavirus pandemic on the global digital travel market and provides information on possible future developments in the industry.
The health crisis has deeply affected digital travel sales, but the future looks brighter
Deeply affected by restrictions imposed due to the spread of the coronavirus pandemic, the global online travel industry has seen a significant drop in sales. For example, in United States, the value of online travel sales in 2020 was only half of the figure forecast for 2020 just before the start of the COVID-19 pandemic.
The gross value of bookings from online travel agencies in the country has also declined significantly. Nevertheless, a recovery is expected in the near future given the easing of restrictions. From March 2021, travelers around the world intended to spend more on their travel over the next 12 months, and use of travel-related mobile apps may even be higher than before the health crisis, the report finds. .
In addition, in Asia Pacific, one of the fastest growing regions in travel terms, despite the negative influence of COVID-19, overall digital travel spending per capita is expected to increase in several economies, including Hong-Kong, China, Taiwan, Japan, and South Korea by 2025.
The world’s leading online travel agencies and the impact of COVID-19
In 2021, most of the world’s major online travel agencies were able to maintain their market position, including Booking.com, which remained the world’s leading travel category website. Tripadvisor and Airbnb followed Booking.com. However, for some OTAs including the Expedia group, the pandemic has resulted in a drop in the ranking, as detailed in this publication.
Technology-driven solutions are a big factor in the traveler experience in 2021
Due to the economic disruption due to the COVID-19 pandemic, travelers around the world have become increasingly interested in the Buy Now Pay Later payment method. According to a 2020 international survey cited by the analyst in the new report, a double-digit share of respondents said the availability of a BNPL option was an important factor when booking a travel-related service. With this, technology-driven solutions can support the online travel industry in the recovery process.
Cover of the report
- This report covers the online travel market. It takes into account a broad definition of the travel segment, including transportation, accommodation, tour packages and others. The report focuses on unmanaged leisure travel and online business travel. Definitions used by the original sources cited in this report may vary.
- Besides sales figures, penetration and rankings, this report also reveals important market trends affecting the online travel market such as increase in mobile bookings and use of innovative technologies.
- The following global regions are covered in this report: Asia Pacific, Europe, Latin America, the Middle East, and North America.
Structure of the report
- The Global Chapter opens the report, including an overview of global market developments and trends.
- The rest of the report is divided by regions. Regions are presented in descending order of total online travel sales.
- In each region, regional information is included first, when available, and countries are also listed in descending order of online travel sales. Where no comparable sales figures were available, other related criteria such as total e-commerce sales, online shoppers and internet penetration were applied.
- In the country sections, the following information is covered, when available: online travel sales, the share of online shoppers booking travel services online and the rank of this category among other product categories of e-commerce, online share of total travel sales and share of travel in total e-commerce sales, platforms and channels used by travelers to book travel services, total sales and shares of online travel agencies . Not all types of information mentioned are provided for each country, due to the varying availability of data.
Main topics covered:
1. Executive summary
3. North America
3.1. United States
4. Asia Pacific
4.4. South Korea
4.7. New Zealand
6. Latin America
7. Middle East and Africa
7.2. Saudi Arabia
- American Express
- Apple Pay
- Hunt the sapphire
- Expedia Group
- Come on Mmt
- Google pay
- Hilton hotels
- Marriott Hotels
- Pay Pal
- Thomas cook
- well Fargo
For more information on this report, visit https://www.researchandmarkets.com/r/nszmv4
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SOURCE Research and Markets