The Global Online Travel Booking Service Market size is estimated to grow at a CAGR of around 11.70% during the forecast period, i.e., 2024-30. According to MarkNtel Advisors Study.
Global Online Travel Booking Service Market Driver:
Surging Demand for Online Travel Booking Services Amidst Global Travel Relaxations – Over the years, tourism in countries like the UAE, Italy, and others has significantly increased due to a surge in the net disposable income of individuals, flexible visa policies, government-led initiatives to boost tourism, and others. Individuals residing in countries like the UAE, Saudi Arabia, etc., experienced a rise in their net disposable income during past years. With an upswing in net disposable income, individuals allocated their financial resources to leisure pursuits like travel, thereby driving tourism.
Further, tourism irrefutably plays a vital role in the enlargement of the economy of numerous nations and global regions since it stimulates economic activity across multiple sectors and bolsters local enterprises and services such as lodging, dining, transportation, entertainment, etc. As a result, tourism contributed to elevating the Gross Domestic Product (GDP) of the countries across the globe during 2019-2023. According to the World Travel & Tourism Council, in 2022, the travel & tourism sector contributed to approximately 7.6% of the World’s GDP, an increase of about 22% compared to 2021.
Hence, the governments of countries like Saudi Arabia, India, etc., increasingly encouraged tourism and attracted millions of tourists in their countries by easing travel-related policies, hosting numerous cultural & sports events, and investing in the tourism sector. The surge in tourism across the globe contributed to an increase in the demand for online travel booking services.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Online Travel Booking Service Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Type
- Vacation Package- Market Size & Forecast 2019-2030F, USD Million
- Transportation- Market Size & Forecast 2019-2030F, USD Million
- Airline- Market Size & Forecast 2019-2030F, USD Million
- Trains- Market Size & Forecast 2019-2030F, USD Million
- Buses- Market Size & Forecast 2019-2030F, USD Million
- Cabs- Market Size & Forecast 2019-2030F, USD Million
- Accommodation- Market Size & Forecast 2019-2030F, USD Million
- Hotel- Market Size & Forecast 2019-2030F, USD Million
- Hostel & Resorts- Market Size & Forecast 2019-2030F, USD Million
- Vacation Rentals- Market Size & Forecast 2019-2030F, USD Million
- Others (Camping & Recreation Vehicle, Timeshare Rentals, etc.) – Market Size & Forecast 2019-2030F, USD Million
- Others (Travel Insurance Booking, Event & Attraction Booking, etc.) – Market Size & Forecast 2019-2030F, USD Million
- By Booking Method
- Direct Online Booking- Market Size & Forecast 2019-2030F, USD Million
- Online Travel Agencies (OTAs)- Market Size & Forecast 2019-2030F, USD Million
- By Platform
- Third Party Online Portals- Market Size & Forecast 2019-2030F, USD Million
- Mobile Application- Market Size & Forecast 2019-2030F, USD Million
- Websites – Market Size & Forecast 2019-2030F, USD Million
- Direct Portals- Market Size & Forecast 2019-2030F, USD Million
- Mobile Application- Market Size & Forecast 2019-2030F, USD Million
- Websites – Market Size & Forecast 2019-2030F, USD Million
- Third Party Online Portals- Market Size & Forecast 2019-2030F, USD Million
- By End Users
- Leisure Travelers- Market Size & Forecast 2019-2030F, USD Million
- Business Travelers- Market Size & Forecast 2019-2030F, USD Million
- Medical and Wellness Travelers- Market Size & Forecast 2019-2030F, USD Million
- By Age Group
- Generation Z (Age 18-24) – Market Size & Forecast 2019-2030F, USD Million
- Millennials (Ages 25-40) – Market Size & Forecast 2019-2030F, USD Million
- Generation X (Ages 41-56) – Market Size & Forecast 2019-2030F, USD Million
- Baby Boomers (Ages 57-75) – Market Size & Forecast 2019-2030F, USD Million
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Airbnb Inc., Expedia Inc., Booking Holdings Inc., Trip Advisor LLC, Trip.com Travel Singapore Pte. Ltd., Makemytrip Pvt Ltd., Hostelworld.com Limited, Trivago N.V., Despegar.com, Corp., Lastminute.com NV, Traveloka, CorporateFlights.com, Cleartrip Pvt. Ltd., Thomas Cook Ltd., KoreaTravelEasy Inc., Others(Yatra Online Limited, Fareportal, etc.) Others are looking forward to strengthening their market positions.
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