DUBLIN--(BUSINESS WIRE)--The "Global Online Travel Market 2021" report has been added to ResearchAndMarkets.com's offering.
The report "Global Online Travel Market 2021," details the impact of the coronavirus pandemic on the digital travel market worldwide and provides insights into possible future industry developments.
The health crisis deeply affected digital travel sales, but the future looks more optimistic
Deeply affected by the restrictions imposed due to the spread of the coronavirus pandemic, the global online travel industry experienced a significant downfall in sales. For example, in the United States, online travel sales value in 2020 was only half of the figure forecasted for 2020 just before the onset of the COVID-19 pandemic.
The gross booking value of online travel agencies in the country also decreased substantially. Nevertheless, a recovery is expected in the near future given the easing of restrictions. As of March 2021, global travelers intended to spend more on trips in the next 12 months, and the usage of travel-related mobile apps may even be higher than prior to the health crisis, according to the findings of the report.
Furthermore, in Asia-Pacific, one of the fastest-growing regions in regard to travel, despite the negative influence of COVID-19, overall per capita digital travel expenditures are expected to rise in several economies, including Hong Kong, China, Taiwan, Japan, and South Korea by 2025.
Leading online travel agencies globally and the COVID-19 impact
In 2021, most of the major global online travel agencies were able to keep their market positions, including Booking.com, which remained to be the top website in the travel category globally. Tripadvisor and Airbnb followed Booking.com. Nevertheless, for some OTAs including the Expedia Group the pandemic led to a drop in the rankings, as detailed in this publication.
Technology-driven solutions are an important factor in the traveler experience in 2021
Due to economic disruptions due to the COVID-19 pandemic, travelers worldwide became 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 that the availability of a BNPL option was an important factor when booking a service related to a trip. With that, technology-driven solutions may support the online travel industry in the process of recovery.
Report Coverage
- This report covers the online travel market. It takes into account a wide definition of the travel segment, including transportation, accommodation, tour packages and others. The report's focus is on leisure and unmanaged business online travel. The 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 that affect the online travel market, such as the rise of mobile bookings and the use of innovative technology.
- Following global regions are covered in this report: Asia-Pacific, Europe, Latin America, the Middle East, and North America.
Report Structure
- The global chapter opens the report, including an overview of global market developments and trends.
- The rest of the report is divided by regions. The regions are presented in the order of descending total online travel sales.
- Within each region, regional information is included first, where available, and the countries are also presented in the order of descending online travel sales. Where no comparable sales figures were available, other related criteria such as total E-Commerce sales, online shopper and Internet penetration were applied.
- In the country sections, the following information is covered, where available: online travel sales, the share of online shoppers booking travel services online and the rank of this category among other E-Commerce product categories, the online share of total travel sales and the 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 varying data availability.
Key Topics Covered:
1. Management Summary
2. Global
3. North America
3.1. USA
3.2. Canada
4. Asia-Pacific
4.1. Regional
4.2. China
4.3. Japan
4.4. South Korea
4.5. India
4.6. Australia
4.7. New Zealand
4.8. Indonesia
4.9. Thailand
4.10. Singapore
4.11. Vietnam
4.12. Malaysia
4.13. Philippines
5. Europe
5.1. Regional
5.2. UK
5.3. Germany
5.4. France
5.5. Switzerland
5.6. Austria
5.7. Russia
5.8. Turkey
6. Latin America
6.1. Regional
6.2. Brazil
6.3. Mexico
6.4. Argentina
7. Middle East and Africa
7.1. Regional
7.2. Saudi Arabia
7.3. Morocco
Companies Mentioned
- Agoda
- Airbnb
- American Express
- Apple Pay
- Chase Sapphire
- Ctrip
- Expedia Group
- Fewo-direct
- Go Mmt
- Google Pay
- Hilton Hotels
- MakeMyTrip
- Marriot Hotels
- PayPal
- Taj
- Thomas Cook
- Traveloka
- Tripadvisor
- Venmo
- Welbo
- Wells Fargo
For more information about this report visit https://www.researchandmarkets.com/r/m7n8yx
