market research on online travel agencies

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Adroit Market Research - Industry Insights

Major players profiled in the study include Expedia Group, Ebury Partners UK, Fareportal, Hostelworld Limited, Hurb Co S/A, HRS, MakeMyTrip, Oracle Corporation, Priceline, SABS Travel Technologies, Tavisca Solutions, Thomas Cook India, travelomatix.com, Trip.com Group, Tripadvisor, WEX. among others.

Latest Developments

• Expedia Group just revealed an Open World Technology platform for 2022. Technology is created for partner organisations. The platform is ideal for the agency looking to launch a new online travel business since it includes a comprehensive ecommerce suit, with several blocks including payments, chatbots, services, and fraud detection.

Online Travel Agencies Market Scope

Key Segments in the global Online Travel Market

By Service Type, 2019-2029 (USD Billion)

• Transportation
• Vacation Packages
• Accommodation

By Device Platform, 2019-2029 (USD Billion)

By Payment Modes, 2019-2029 (USD Billion)

• Debit / Credit Card
• Others (Vouchers, Discount Codes)

By Region, 2019-2029 (USD Billion)

North America

• Rest of Europe

Asia Pacific

• Rest of Asia Pacific

South America

• Rest of South America

Middle-East and South Africa

Frequently Asked Questions (FAQ) :

What is the market value of online travel agencies market in 2032, what is the growth rate of online travel agencies market, which are the top companies hold the market share in online travel agencies market.

1.  Introduction        o Introduction       o Market Definition and Scope       o Units, Currency, Conversions, and Years Considered       o Key Stakeholders       o Key Questions Answered 2.  Research Methodology        o Introduction       o Data Capture Sources       o Market Size Estimation       o Market Forecast       o Data Triangulation       o Assumptions and Limitations 3.  Market Outlook        o Introduction       o Market Dynamics            ? Drivers           ? Restraints           ? Opportunities           ? Challenges       o Porter’s Five Forces Analysis       o PEST Analysis 4. By Service Type, 2019-2029 (USD Billion)       • Transportation       • Vacation Packages       • Accommodation 5. By Device Platform, 2019-2029 (USD Billion)       • Mobile       • Desktop 6. By Payment Modes, 2019-2029 (USD Billion)       • UPI       • E-Wallet       • Debit / Credit Card       • Others (Vouchers, Discount Codes) 7. Regional Overview, 2019-2029 (USD Billion)       North America           o U.S           o Canada       Europe           o Germany           o France           o UK           o Rest of Europe       Asia Pacific           o China           o India           o Japan           o Rest of Asia Pacific       South America           o Mexico           o Dental            o Rest of South America       Middle-East and South Africa 8. Competitive Landscape        o Company Ranking       o Market Share Analysis       o Strategic Initiatives            ? Mergers & Acquisitions           ? New Product Launch           ? Others 9.  Company Profiles       • Expedia Group       • Ebury Partners UK       • Fareportal       • Hostelworld Limited       • Hurb Co S/A       • HRS       • MakeMyTrip       • Oracle Corporation       • Priceline       • SABS Travel Technologies       • Tavisca Solutions       • Thomas Cook India       • travelomatix.com       • Trip.com Group       • Tripadvisor       • WEX. 10. Appendix        o Primary Research Approach            ? Primary Interview Participants           ? Primary Interview Summary       o Questionnaire       o Related Reports            ? Published           ? Upcoming  

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Online Travel Market

Online travel market report by service type (transportation, travel accommodation, vacation packages), platform (mobile, desktop), mode of booking (online travel agencies (otas), direct travel suppliers), age group (22-31 years, 32-43 years, 44-56 years, above 56 years), and region 2024-2032.

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Market Overview:

The global online travel market size reached US$ 512.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,267.1 Billion by 2032, exhibiting a growth rate (CAGR) of 10.4% during 2024-2032.  The e scalating penetration of smart devices, easy access to high-speed internet connectivity, the rising popularity of solo travel, and an increasing number of business travelers are some of the major factors propelling the market.

Online travel refers to the process of planning, booking, and managing travel arrangements using online platforms and websites. It encompasses various aspects of travel, including researching destinations, comparing prices, booking flights, accommodations, car rentals, and other travel-related services through online travel agencies (OTAs) and travel booking websites. It has revolutionized the way people plan and book their trips. It provides travelers with convenient access to a wide range of travel options, allowing them to search and compare different airlines, hotels, and other service providers. These platforms offer user-friendly interfaces, advanced search filters, and real-time availability, making it easier for travelers to find the best deals and make informed decisions.

The widespread availability and adoption of internet and mobile technology will stimulate the growth of the market during the forecast period. Moreover, the convenience of accessing a vast array of travel information, comparing prices, and making bookings online is positively influencing the market growth. Apart from this, the ongoing innovation and the development of user-friendly platforms, advanced search functionalities, and personalized recommendations has catalyzed the market growth. OTAs and travel booking websites have invested in providing seamless and efficient booking experiences, making it easier for travelers to find the best deals and make informed decisions. Furthermore, travelers are appreciating the ability to book their flights, accommodations, and other travel services from the comfort of their homes, and online platforms often offer exclusive deals and discounts, enabling travelers to find affordable options. In line with this, the rising demand for convenience and cost savings has augmented the market growth.

Online Travel Market Trends/Drivers:

Increase in Internet and Mobile Penetration

The increasing penetration of the internet and mobile technology has been a significant driver of the market. With more people gaining access to the internet and owning smartphones, the ability to plan and book travel online has become increasingly accessible. Travelers can easily research destinations, compare prices, and make bookings through online platforms, making the process more convenient and efficient. The widespread availability of mobile apps further enhances the accessibility of online travel, allowing travelers to plan and book their trips on the go. Additionally, the integration of online payment systems and secure transaction processes has further facilitated the growth of online travel by providing a seamless and secure booking experience.

Convenience and accessibility

The convenience and accessibility offered by online platforms have transformed the way people plan and book their trips. These platforms provide a one-stop solution, allowing travelers to access a vast array of travel information, options, and services in one place. The ability to browse through numerous airlines, hotels, and travel agencies in a user-friendly interface saves time and effort. Travelers can compare prices, read reviews, and make bookings from the comfort of their homes or while on the go. The 24/7 availability of online platforms means that travelers are no longer restricted by the operating hours of traditional travel agencies. This convenience and accessibility have democratized the travel planning process, empowering travelers to take more control over their itinerary and make informed decisions.

Competitive Pricing and Deals

The competitive nature of the market has resulted in competitive pricing and the availability of attractive deals and discounts. OTAs and booking websites strive to attract customers by offering exclusive promotions, discounted packages, and last-minute deals. The ability to compare prices across multiple platforms allows travelers to find the best available options and secure the most cost-effective deals. The transparency in pricing and the ability to see real-time availability and fluctuations in prices enable travelers to make informed decisions and capitalize on favorable pricing opportunities. The availability of such competitive pricing and deals has made online travel an appealing option for travelers seeking value for their money and cost savings. Moreover, loyalty programs and reward systems offered by these platforms further incentivize travelers to book through their platforms, enhancing customer loyalty and engagement.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Online Travel Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global online travel market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on service type, platform, mode of booking and age group.

Breakup by Service Type:

• Transportation
• Travel Accommodation
• Vacation Packages

Travel accommodation dominates the market

The report has provided a detailed breakup and analysis of the market based on the service type. This includes transportation, travel accommodation and vacation packages. According to the report, travel accommodation represented the largest segment.

The dominance of travel accommodation as the primary service type in the market is driven by several key factors. The widespread presence of online travel platforms has made it easy for travelers to access a range of accommodation options, positively influencing the market growth. These platforms offer a comprehensive inventory of hotels, resorts, vacation rentals, and other types of accommodations, providing travelers with extensive choices and convenience.

Apart from this, the ability to compare prices, read reviews, and view photos of accommodations that empowers travelers to make informed decisions is contributing to the market growth. The user-friendly interfaces of these platforms streamline the booking process, allowing travelers to secure their preferred accommodations quickly and easily. Furthermore, the availability of customer reviews and ratings plays a significant role in driving the dominance of travel accommodation in the market.

Breakup by Platform:

Desktop holds the largest share in the market

A detailed breakup and analysis of the market based on the platform has also been provided in the report. This includes mobile and desktop. According to the report, desktop accounted for the largest market share.

The desktop platform typically involves accessing travel websites through web browsers installed on desktop computers, which offer larger screens, full-sized keyboards, and a mouse or trackpad for navigation. Desktop platforms provide travelers with a robust and comprehensive online experience for researching, planning, and booking their travel arrangements. Desktop computers offer a larger screen size and a more comfortable browsing experience, allowing travelers to easily navigate travel websites, compare options, and view detailed information. Moreover, desktop platforms provide greater processing power and stability, enabling faster loading times and smoother functionality for complex booking processes, thereby accelerating the product adoption rate. Furthermore, desktop platforms are preferred for extensive research and planning, as they provide more screen space and functionality for travelers to explore destinations, read reviews, and make informed decisions. Desktop offers various advantages in terms of screen size, processing power, and research capabilities.

Breakup by Mode of Booking:

• Online Travel Agencies (OTAs)
• Direct Travel Suppliers

Direct travel suppliers is the most popular mode of booking

A detailed breakup and analysis of the market based on the mode of booking has also been provided in the report. This includes online travel agencies (OTAs) and direct travel suppliers. According to the report, direct travel suppliers accounted for the largest market share.

Direct booking allows travelers to have a direct relationship with the travel supplier, whether it's an airline, hotel, or car rental company. This direct interaction gives travelers more control and the ability to personalize their travel experience, including selecting specific preferences, customizing packages, and accessing loyalty programs or exclusive offers. Moreover, the surging adoption of direct booking as it provides better pricing and deals compared to third-party OTAs is propelling the segment growth. Additionally, the rising use of direct booking as it allows better communication and customer service as travelers can directly contact the travel supplier for any queries, changes, or requests, eliminating the need to navigate through third-party customer service channels, thereby contributing to the segment growth. Furthermore, the rise of online platforms and technology that makes it easier and more convenient for travelers to directly book with travel suppliers is another major growth-inducing factor.

Breakup by Age Group:

• 22-31 Years
• 32-43 Years
• 44-56 Years
• Above 56 Years

32-43 years dominates the market

A detailed breakup and analysis of the market based on the age group has also been provided in the report. This includes 22-31, 32-43, 44-56, and above 56 years. According to the report, 32-43 years accounted for the largest market share.

The dominance of the 32-43 years age group in the market is driven by several key factors. This age group represents individuals in their prime working and earning years, typically with more disposable income to spend on travel. They are often at a stage in their lives where they have fewer family responsibilities and greater flexibility to plan and embark on trips. Moreover, the 32-43 years age group is tech-savvy and comfortable with using digital platforms for various activities, including travel planning, and booking, thereby accelerating the product adoption rate. They have grown up alongside the rapid advancement of technology and are accustomed to online transactions and digital communication. Apart from this, Online travel platforms offer a convenient and time-saving solution, allowing them to plan their trips at their own pace and from the comfort of their homes or offices. In addition, the rising preference of this age group for convenience and efficiency in their travel arrangements is contributing to the segment growth.

Breakup by Region:

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United States

• South Korea

United Kingdom

• Middle East and Africa

North America exhibits a clear dominance in the market

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market.

The dominance of North America as the leading region in the market is driven by several key factors. North America has a highly developed and digitally advanced economy, with a large population of tech-savvy consumers. The region has widespread internet access and a high level of smartphone penetration, making it conducive for online travel activities. Moreover, familiarity and adoption of online platforms for various transactions, including travel bookings, is contributing to the dominance of North America in the market.

Apart from this, North America is home to some of the largest OTAs and travel booking platforms. In addition, these companies offering a wide range of travel services, competitive pricing, and user-friendly interfaces have catalyzed the market growth. The availability of comprehensive travel options, including flights, accommodations, car rentals, and activities, has made North American travelers rely heavily on online platforms for their travel planning and booking needs.

Competitive Landscape:

The market is experiencing a lower-than-anticipated demand compared to pre-pandemic levels however, this is likely to witness a paradigm shift over the next decade with the rise of OTAs, which provide comprehensive platforms for travelers to explore and compare various travel options. Furthermore, online platforms for travel have embraced augmented reality (AR) and virtual reality (VR) to enhance the travel planning experience. With AR, travelers can use their smartphones or wearable devices to virtually explore destinations, visualize hotel rooms or attractions, and even preview menus at restaurants. Additionally, mobile payment options and digital wallets have become widely accepted, allowing travelers to make quick and hassle-free transactions while on the go. We expect the market to witness new entrants, consolidation of portfolios, and increased strategic collaborations among key players to drive healthy competition within the domain.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Expedia Group Inc.
• Fareportal Inc.
• Hostelworld Group plc
• MakeMyTrip Pvt. Ltd.
• priceline.com LLC (Booking Holdings Inc.)
• Thomas Cook India Ltd. (Fairfax Financial Holdings Limited)
• Tripadvisor Inc.

Recent Developments:

• In April 2023, Expedia launched New Feature Powered by ChatGPT to help plan travel. This innovative integration aims to enhance the travel planning experience for Expedia users by providing them with a personalized and conversational approach to trip planning. With this new feature, users can engage in natural language conversations with the ChatGPT system, similar to chatting with a virtual assistant.
• In May 2023, HRS won three sustainability awards at BTN Americas Event by Business Travel News magazine. These accolades acknowledge HRS's comprehensive sustainability program, their role as a green supplier, and their innovative approaches to promoting sustainable travel choices. With these awards, HRS continues to inspire and lead the way in sustainable practices, encouraging positive change across the industry.
• In August 2020, MakeMyTrip launched myPartner platform to assist travel agents in offering enhanced travel booking experiences to travelers. The platform, myPartner, has been designed to provide local travel agents access to one of the widest selections of online travel inventory. While digitizing the day-to-day booking processes of all offline travel agents alike, myPartner has been conceptualized and built to immensely benefit the local travel market beyond metro cities.

Online Travel Market Report Scope:

Key benefits for stakeholders:.

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the online travel market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global online travel market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the online travel industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global online travel market was valued at US$ 512.5 Billion in 2023.

We expect the global online travel market to exhibit a CAGR of 10.4% during 2024-2032.

The expanding travel and tourism industry, along with the rising utilization of online travel agencies across numerous hotels to ensure more visibility and increase their overall sales and profitability, is currently catalyzing the global online travel market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary restrictions on national and international travel activities, thereby limiting the overall demand for online travel.

Based on the service type, the global online travel market has been segmented into transportation, travel accommodation, and vacation packages. Among these, travel accommodation holds the majority of the total market share.

Based on the platform, the global online travel market can be divided into mobile and desktop, where desktop currently exhibits a clear dominance in the market.

Based on the mode of booking, the global online travel market has been categorized into Online Travel Agencies (OTAs) and direct travel suppliers. Currently, direct travel suppliers account for the majority of the global market share.

Based on the age group, the global online travel market can be segregated into 22-31 years, 32-43 years, 44-56 years, and above 56 years. Among these, 32-43 years age group currently holds the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global online travel market include Expedia Group Inc., Fareportal Inc., Hostelworld Group plc, HRS, Hurb, MakeMyTrip Pvt. Ltd., priceline.com LLC (Booking Holdings Inc.), Thomas Cook India Ltd. (Fairfax Financial Holdings Limited), Tripadvisor Inc., and Yatra.com.

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Online Travel Market Size, Share, Competitive Landscape and Trend Analysis Report by Service types, Platforms, Mode of Booking ,and Age Group : Global Opportunity Analysis and Industry Forecast, 2022-2031

CG : Travel & Luxury Travel

✷  Report Code: A01415

Tables: 196

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The global online travel market size was valued at $354.2 billion in 2020, and is estimated to reach $1,835.6 billion by 2031, registering a CAGR of 14.8% from 2022 to 2031.

Online travel providers aim to ease travel planning and bookings for travelers. The online travel industry is being pushed by quick and easy flight and hotel bookings, an increase in customer trust in online payment, and the option to compare numerous available travel alternatives.. Market players are extensively offering travel services through mobile websites and apps, as it is one of the most preferred mediums of travel bookings, particularly among the young professionals.

The emergence of internet has led to intense exposure of people to social media sites. People first browse through websites, gather detailed information, and review the required product or service before making a purchase. In addition, social media such as Facebook, Twitter, and travel blogs have become a common medium for people to discuss travel plans. Social media acts as a platform for online travel service providers to advertise their services and special offers for online bookings garnering the online travel market growth during the forecast period.

Transportation segment helds the major share of 41.2% in 2020

Social and political disturbances affect the travel & tourism industry in specific regions. Customers tend to avoid these conflict prone areas even if they get travel services at affordable prices. Government of several nations have also declared instructions for travelers to refrain from traveling to countries affected with epidemics or social/political unrest. This, limits the scope of online travel booking to those countries thereby affecting the sales of the online travel market.

The online travel market segmented into service type, platforms, mode of booking, age group, and region. On the basis of service type, the market is categorized into transportation, travel accommodation, and vacation packages. By platform, it is segmented into mobile and desktop. On the basis of mode of booking, it is segmented into online travel agencies (OTAs) and direct travel suppliers. On the basis of age group, market is segmented into ¬22-31 years¬ 32-43 years¬ 44-56 years¬ and >56 years. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, and rest of LAMEA).

Desktop segment helds the major share of 69.3% in 2020

According to the online travel market trends, on the basis of service types, the travel accommodation segment was the considerable contributor to the market, with $123.7 billion in 2020, and is estimated to reach $719.5 billion by 2031, at a CAGR of 16.0% during the forecast period. Travelers are increasingly being offered a diverse range of hotel options at reasonable costs by market players.. Customers compare accommodation options at several websites to get the best affordable deal. Travelers choose specialized online accommodation providers such as Airbnb, Inc. and OYO Rooms because they provide a wide range of lodging alternatives.. Thus, above mentioned factors are  attributable for the growth of the market through travel accommodation segment.

According to the platforms, the mobile segment was the significant contributor to the market, and is estimated to reach $617.9 billion by 2031, at a CAGR of 15.8% during the forecast period. Increase in usage of mobile and innovative mobile travel apps majorly attribute for the growth of the market through mobile segment. Technology has changed the way people communicate and travel across the globe. With evolving technology and increase in use of mobiles, easy and efficient methods are being developed to make traveling easy and comfortable, thus increasing the growth of travel industry. Mobile travel apps are gradually gaining pace in the market and are preferred by travelers to make their travel arrangements. Thus, increase in usage of the smart phones and growth in digital literacy is likely to proliferate the growth of the online travel market.

Direct Travel Suppliers segment helds the major share of 55.7% in 2020

On the basis of mode of booking, the direct travel suppliers segment was accounted for major share in global online travel market and is expected  to sustain its share throughout the forecast period. Direct travel suppliers are the major revenue contributors in the product market. However, this segment witnesses an increase in threat from the growing online travel agencies (OTAs) market share. To remain competitive, airlines such as Lufthansa AG choose to circumvent OTAs by charging additional fees for bookings made through the OTAs.. The online travel industry through direct travel suppliers is developing at a slower rate, because customers are constantly using OTA platforms..                                

According to the online travel market analysis, on the basis of age group, the 22-31 Years segment was the considerable contributor to the market, with $102.0  billion in 2020, and is estimated to reach $539.2  billion by 2031, at a CAGR of 15.0% during the forecast period. The age group of 22–31 years comprises the young population, which are the early starters in their professional career. When compared to travelers in the older age groups, these travelers are more likely to spend more money on travel and visit new places. These travelers have changed the travel business because of their extensive use of technology, . Smartphones and other mobile devices are largely preferred to make travel arrangements. Furthermore, social media platforms are utilized to evaluate various travel service providers, locations, modes of transportation, and lodging. As a result, the industry is experiencing strong growth in the 22–31 year age group sector..

32 - 43 Years segment helds the major share of 33.6% in 2020

According to the online travel market opportunities, region wise, Asia-pacific gained significant online travel market share and is expected to sustain its share throughout online travel market forecast period. It possesses the highest growth potential in the online travel market, India and China being the most lucrative markets. The growth is attributed to the increase in disposable income, rise in middle-class segment, and greater penetration of internet facilities. Ctrip is the leading player in online travel market in China, whereas MakeMytrip, Yatra, and Cleartrip are the major online travel agencies (OTA) in India. 

The players operating in the global online travel industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Expedia Group, Inc., Ebury Partners UK Ltd, Fareportal Inc. , Hostelworld.com Limited, Hurb Co S/A, HRS, MakeMyTrip Ltd., Oracle Corporation, Priceline (Booking Holdings Inc.), SABS Travel Technologies, Tavisca Solutions Pvt. Ltd., Thomas Cook India Ltd., travelomatix.com, Trip.com Group, Tripadvisor, Inc., and WEX Inc.

North America region helds the major share of 33.3% in 2020

Key Benefits For Stakeholders

• The report provides a quantitative analysis of the current trends, estimations, and dynamics of the market size from 2020-2031 to identify the prevailing opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
• The major countries in each region are mapped according to their revenue contribution to the market. 
• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the online travel market.

  Online Travel Market Report Highlights

Analyst Review

The global online travel market is anticipated to witness robust growth in the emerging market of Asia-Pacific. The growth is attributed to increase in disposable income, rise in middle-class segment, and greater penetration of internet facilities. Business travel has also fueled market growth in Asia-Pacific. Approximately, 90% of corporate travelers in the region own either a smart phone or tablet. More than 50% of these travelers manage their travel through these devices. Companies cater to the needs of travelers through innovative mobile travel apps to gain market share. Apps with various features are being developed to stay connected to travelers throughout their journey and to assist them whenever required. Travel apps offer flexibility to travelers, thus becoming an important differentiating factor for the consumers while choosing a travel company. In addition, customers download hotel and airline apps for quick view and booking status. Thus, proliferation of mobile usage and innovative mobile travel apps are expected to foster the growth of the online travel market in the future.

• Travel Destinations
• Luxury Accommodations
• Travel Packages
• Adventure Travel
• Luxury Travel Experiences
• Travel Planning
• Outdoor Activities

Total Market value of Online Travel report was valued at $354.2 billion in 2020.

14.8% is the CAGR of Online Travel Market

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2022 to 2031 would be forecast period in the market report Market

Expedia Group, Inc., Ebury Partners UK Ltd, Fareportal Inc. , Hostelworld.com Limited, Hurb Co S/A, HRS, MakeMyTrip Ltd., Oracle Corporation, Priceline (Booking Holdings Inc.) and SABS Travel

The online travel market segmented into service type, platforms, mode of booking, age group, and region

India online travel market was valued at $12.4 billion and is expected grow at 21.1% during the forecast period.

By the end of the 2031, Asia-Pacific is expected to dominate the online travel market.

Online travel market was negatively impacted the growth of the market and is expected grow at highest CAGR growth rate after COVID-19 scenario.

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Online Travel Market

Global Opportunity Analysis and Industry Forecast, 2022-2031

• Skift Research
• Airline Weekly
• Skift Meetings
• Daily Lodging Report

Online Travel Agency Factbook 2022

Related reports.

• India’s Travel Booking Landscape March 2024
• The Past, Present, and Future of Online Travel March 2024
• Skift Research Global Travel Outlook 2024 January 2024
• A Deep Dive into Google Travel Part II: U.S. vs Europe in 20 Charts November 2023

Report Overview

Skift Research’s Online Travel Agency Factbook is your one-stop shop to understand the global universe of online booking sites.

We collected data on and built individual profiles for the eleven largest publicly traded online travel agencies. We analyzed the scale, revenue, growth, profitability, historical performance, and customer acquisition ability of each OTA.

These businesses span five continents and account for a majority of all global online bookings (we estimate they represent ~75% of the total market).

This dataset allowed us to build a global market size as well as to draw up an apples-to-apples comparison of each business and understand how each OTA stacks up to their competitors across key performance indicators.

The online booking industry has mostly maintained commission levels and gross bookings are returning. Therefore, OTA revenue is recovering faster than most other travel sectors. However, profitability has been deeply hurt and is much slower to recover.

The ‘big 3’ OTAs – Trip.com Group, Booking Holdings, and Expedia Group – are steadily improving. The path ahead for smaller regionals like Lastminute.com, On the Beach, or Yatra is much choppier. Specialist product OTA results have been a coinflip. Airbnb won that toss and was the best performing booking site in the world during COVID, while on the opposite end of things Hostelworld has been one of the worst performing.

The full list of booking sites included is: Airbnb, Booking Holdings, Despegar, eDreams ODIGEO, Expedia Group, HostelWorld Group, lastminute.com, MakeMyTrip Limited, On The Beach Group, Trip.com Group (f/k/a Ctrip), and Yatra Online.

What You'll Learn From This Report

• Global Online Travel Agency Market Size.
• 11 Online Travel Companies in Numbers: Side-by-Side Comparisons.
• Key performance indicators for each OTA covering dollars earned, margins and growth profiles, marketing efficiency, and historical performance.
• Individual company profiles for each public booking site the explains what makes that particular OTA unique compared to the others.

Global Online Travel Market by Service type (Transportation, Travel Accommodation, and Vacation Packages), by Platform (Mobile and Desktop), Mode of Booking (Online Travel Agencies (OTAs) and Direct Travel Suppliers); By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021-2030

The Global Online Travel Market size was valued at USD 354.2 Bn in 2021. The market is projected to grow USD 1,835.6 Bn in 2030, at a CAGR of 14.8 %. Review sites and travel e-commerce sites make up the majority of the internet travel sector. It provides the convenience of reserving from the comfort of one's own home and frequently entices customers with package deals and cost-cutting choices. As a result, many tourists are opting to book their trips online rather than through traditional brick-and-mortar travel firms. Furthermore, the primary global online travel market is being driven by greater consumer spending power, a government initiative to promote tourism, growing internet and credit card usage, and the creation of new online segments. The increasing penetration of international flight and hotel bookings supplied by online portals such as Booking.com, TripAdvisor.com,  .  

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The emergence of the travel and tourism business, as well as shifting patterns in standard of life, has resulted in a steady increase in the online travel market. The demand for online travels varies depending on the property type and is impacted by factors including location, size, and on-site amenities. The market is likely to be driven by rising disposable income, popularizing weekend culture, the introduction of low-cost airline services, and the developing service industry. The rise in spending power and the style of living are two of the most important factors driving people to luxury resorts. The demand for online travels is also fueled by a city's or country's hosting of sporting events. The development of the market has been hastened by the emergence of online lodging booking services. Marriott International, for example, published a new edition of its mobile app, Marriott Bonvoy, on February 10, 2021, with new features like better booking possibilities, greater personalized experiences, and customizations in earning and redeeming points. As a result, the industry is expected to consolidate due to growing demand for premium services with better booking options.  

COVID-19 Analysis

The epidemic of COVID-19 has had a significant influence on the tourism and travel industries. The global implementation of social distancing, stay-at-home, and travel restrictions has stifled the expansion of the online travel industry. According to the American Hotel and Lodging Association 2021 study, hotel occupancy in the United States fell from 66 percent to around 40 percent in 2020, compared to the previous year. As a result of the pandemic, the hotel industry is likely to suffer a severe slowdown; nevertheless, the market is expected to return to its prior growth trajectory in the coming years.  

Service Type Outlook

The travel accommodation segment accounted largest market share for the global online travel market in 2020. Market competitors are gradually providing travellers with a varied selection of hotel options at reasonable prices. Customers evaluate lodging options across multiple websites in order to get the most cost-effective option. Because they offer a diverse range of housing options, travelers prefer specialized online accommodation providers such as Airbnb, Inc. and OYO Rooms. As a result, the aforementioned reasons are responsible for the market's rise in the travel accommodation segment. These hotels usually have high-end designer interiors created with cutting-edge technology propels the demand for the growth of the global online travel market.  

Global Online Travel Market Report Coverage

Platform Outlook

The mobile segment accounted largest market share for the global online travel market in 2020 owing to the expansion of the market through the mobile sector is mostly due to an increase in mobile usage and the development of novel mobile travel apps. The way people communicate and travel throughout the world has changed as a result of technological advancements. With the advancement of technology and the increased usage of mobile phones, simple and effective techniques are being developed to make travelling simple and comfortable, hence boosting the travel industry's growth. Travelers prefer to make their travel reservations using mobile travel apps, which are gradually gaining traction in the market. As a result, the expansion of the internet travel business is projected to be fueled by an increase in smart phone usage and a rise in digital literacy.  

Mode of Booking Outlook

The online travel agencies (OTAs) segment accounted largest market share for the global online travel market in 2020. Online travel firms are becoming the most popular method of making reservations around the world. The rise of online travel agencies has been one of the most striking examples of industry and society's digital revolution in the last 25 years. OTAs have evolved into digital marketplaces that provide direct access to a wide range of online travel options for both B2B and B2C consumers. OTAs can be thought of as a cross between an e-commerce platform and a travel agency. Expedia, Booking.com, and Trip.com, among others, have dominated the global online travel business (hotels, airlines, packaged tours, rail and cruises).  

Regional Outlook

Asia Pacific dominated largest market share for the global online travel market in 2020 owing to has the most potential for growth in the internet travel business, with India and China being the most profitable areas. The increase in discretionary income, rise in the middle-class section, and increasing penetration of internet facilities are all factors contributing to the expansion. In China, Ctrip is the most popular online travel agency (OTA), whereas in India, MakeMyTrip, Yatra, and Cleartrip are the most popular OTAs.  

Europe is anticipated to emerge as the fastest-growing region over the forecast period. This is due to the presence of some of the world's most popular tourist spots. According to the UNWTO's Foreign Tourism Highlights 2019 Edition, Europe accounted for half of all international visitor arrivals in 2018. The survey also reveals that five major European countries are among the top ten destinations based on foreign tourist arrivals in 2018.  

Key Companies & Recent Developments

Partnerships, strategic mergers, and acquisitions are expected to be the most successful strategies for industry participants to get speedy access to growing markets while also improving technological capabilities.  

In addition, product differentiation and developments, as well as service expansion, are projected to help organizations thrive in the market.  

Market Segmentation of Global Online travel Market

By Service Type

• Transportation
• Travel Accommodation
• Vacation Packages

By Platform

By Mode of booking

• Online Travel Agencies (OTAs)
• Direct Travel Suppliers

Key Players:

• Alibaba Group
• Elong, Inc.
• Tuniu Corporation
• AirGorilla, LLC
• Hays Travel limited
• Airbnb, Inc.
• Yatra Online Private Limited, India
• Trip Advisor Inc.
• MakeMyTrip Limited
• Hostelworld Group PLC (HSW)
• Trivago N.V
• Despegar.com, Corp
• Lastminute.com Group
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Online Travel Agencies Market

Exploring the Online Travel Agencies Market: A Comprehensive Examination by Transportation, Vacation Packages, Accommodation

Transforming the Travel Landscape- Exploring the Expanding Online Travel Agencies Market and the Influence of Artificial Intelligence on Personalized Travel Experiences. Find more with FMI

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Online Travel Agencies Market Outlook (2023 to 2033)

As per newly released data by Future Market Insights (FMI), the online travel agencies market is estimated at US$ 465.1 million in 2023 and is projected to reach US$ 1,694.2 million by 2033, at a CAGR of 13.8% from 2023 to 2033.

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Revenue of Online Travel Agencies from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the FMI analysis, the market for online travel agencies secured a 6.70% CAGR from 2018 to 2022, touching US$ 355.4 million in 2022.

The technological development in the tourism industry has digitalized the entire process of travel bookings. Nowadays traveler makes more use of online services for travel booking as they feel it is a convenient and hassle-free process.

The online process has led to the growth of the tourism and hospitality industry. Therefore, online travel agencies play a significant role in the tourism industry.

Online travel agencies comprise various travel bookings, hotel bookings, transportation service bookings, and many more.

Online travel agencies serve the purpose of selling travel services on online platforms. In the last few years, there is a significant rise in the growth of online travel agencies. The growth has helped to revolutionize the tourism industry.

The above-mentioned factors augur well for the online travel agencies market future trends, where it is predicted that the market likely reaches US$ 1,694.2 million by 2033 at 13.8% CAGR through 2033.

What are the Features and Convenience of Use that Drive the Demand for the Online Travel Agencies?

• Online travel agencies offer a range of services either directly from their own companies or act as intermediaries between travel and booking agencies and end users.
• The main purpose of online travel agencies is to provide booking services online, covering everything from selecting a service to the point of sale on the Internet.
• Online portals offered by these agencies provide various services including price comparison, cost estimation, accommodation options, destination information, transportation modes, and even tour packages.
• The convenience, speed, and ease of booking provided by online travel services attract travelers, offering a convenient and efficient way to plan their trips.
• By utilizing online travel services, travelers can save both time and money, making it an appealing option for those seeking efficient and cost-effective travel arrangements.

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What is Fostering the Expansion of the Market Size: The Rise in Disposable Income and New Development Initiatives?

• Increasing disposable income among individuals has played a significant role in driving the demand for online travel agencies, as people now have more financial resources to explore and travel to various destinations worldwide.
• Online travel agencies have successfully established a global reach, expanding their services and operations across different regions and countries, catering to the diverse travel needs and preferences of customers.
• To meet the evolving demands of the market, online travel agencies continuously adopt new strategies and upgrade their technologies, ensuring enhanced service offerings and improved customer experiences.
• The inclusion of travel insurance and baggage insurance by online travel agencies provides an added layer of security and peace of mind for travelers, contributing to the overall convenience and reliability of their services.
• Transparency throughout the booking process is a key focus for online travel agencies, ensuring customers have access to comprehensive information and pricing details, fostering trust and confidence in their decision-making.
• The initiatives taken by online travel agencies, such as integrating advanced technologies and providing comprehensive travel solutions, have successfully attracted the new generation of tech-savvy travelers, generating a strong demand in the market.
• Despite the challenges faced during the pandemic, the online travel agencies market remains resilient and continues to evolve, adapting to changing customer expectations and emerging market trends.

What Impact Does the Increasing Number of Solo Travelers Have on the Growth of the Online Travel Agencies Industry?

• There has been a significant increase in the number of solo travelers in recent years, driven by specific reasons such as leisure, recreation, and engaging in activities like water sports, hiking, riding, skiing, and more.
• The influence of social media has played a major role in attracting a wide audience to explore different regions, leading to a rise in online travel agencies' booking transactions.
• Online travel agencies offer comprehensive tour plans, including vacation packages, and assist solo travelers in making travel, food, and accommodation arrangements through convenient platforms such as phones or other devices.
• This convenience and affordability make online travel agencies a preferred choice for solo travelers, who may lack extensive knowledge or prefer cost-effective options.
• In recent years, online travel agencies have surpassed offline tour operators and travel agents in terms of popularity and usage among solo travelers.

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Country-wise Insights

What is the growth outlook for the europe online travel agencies industry.

The growth outlook for the Europe online travel agencies industry is positive, with a value share of 22.30% in 2022. The industry is expected to continue growing steadily, supported by various factors such as increasing online travel bookings, technological advancements, and evolving customer preferences.

The CAGR of the United Kingdom at 5.00% from 2023 to 2033 indicates a promising growth trajectory for the market. The rising adoption of online platforms for travel planning and booking, along with the convenience and extensive range of services offered by online travel agencies, are driving the industry's growth.

The industry is likely to witness further advancements in mobile applications, personalized travel experiences, and innovative marketing strategies, contributing to the expansion of the Europe online travel agencies market in the coming years.

How Online Travel Agencies Market is Progressing in India?

In India online leading companies like Yatra.com, Kesari Tours, Veena World, Make My Trip, others are dominating the tourism industry in India, contributing to the country’s anticipated CAGR of 6.0% from 2023 to 2033.

India attracts many foreigners to discover and explore its culture and diversity. Foreigners find Indian travel agencies more affordable than booking tours from abroad. Hence, they use Indian online travel agencies’ websites for booking accommodation and transportation.

Meanwhile, India being one of the leading countries in the count of internet users, it can be concluded that the vast majority of the population is tech-savvy. Thus, online travel agencies try various marketing tools to connect with travelers and encourage them to avail of their services.

The attractive advertisements, loyalty programs, and offers from leading online travel agencies have influenced the domestic market. Therefore, the known online agencies have gained the trust of domestic travelers of the country over the years.

What are the Factors Driving the Online Travel Agencies Industry in the United States of America?

As per the FMI analysis, the market for online travel agencies in the United States was predicted to garner a value share of 5.50% in 2022.

United States is one of the major markets of tourism with millions of travelers visiting every year. Domestic travelers in the United States of America use online travel agencies’ websites and applications extensively.

Apart from this, the airline service is availed by United States citizens majorly. Therefore, there is a high demand for travelers using online travel agencies’ websites for airline travel booking.

With the high standard of living and high disposable income due to the high value of currency travelers are ready to spend a high amount of money on traveling and exploring new adventures. Thus, there is a high demand from travelers for luxury tourism, adventure sports, and various type of outdoor activities.

Category-wise Insights

Which service type is more preferred by travelers in online travel agencies market.

According to the analysis, in terms of service type the transportation service is widely preferred by travelers with the sub-segment holding a 22.0% value share in 2022.

Transportation services generate a high demand for their services. Few the transport services such as car rentals or bus travel agencies are in heavy demand as they are the part of daily mode of transport for many travelers.

Apart from this the attractive offers and schemes from the transportation services attract travelers to use these online services more often. Lastly, the transportation services are having a wide coverage of travelers as compared to the tour/vacation packages or accommodations as they generate demand only when there is a need.

How is the Competitive Landscape in the Market for Online Travel Agencies?

Leading players operating globally in the market are focusing on the expansion of their business. Also working on their service and creating advanced technology to attract new customers.

The competitive landscape in the market for online travel agencies is intense and dynamic. Numerous players, ranging from established companies to emerging startups, compete for market share.

Key industry players strive to differentiate themselves by offering unique features, enhanced user experiences, and a wide range of travel services.

They invest in advanced technologies, such as artificial intelligence and machine learning, to provide personalized recommendations and streamline booking processes. Additionally, partnerships with airlines, hotels, and other travel service providers are crucial to expand their offerings and provide competitive pricing.

Continuous innovation, customer-centric strategies, and effective marketing campaigns are vital for online travel agencies to gain a competitive edge in this rapidly evolving market.

Key Players

• Expedia Group Inc.
• Booking Holding Inc.
• Trip Advisor Inc.
• MakeMyTrip Pvt. Limited
• Hostelworld Group PLC (HSW)
• Trivago N.V
• Thomas Cook India Ltd.
• Lastminute.com Group
• Orbitz Worldwide
• Walt Disney World

For instance:

• In the year 2018, Booking.com announced a new product version of the booking.com application and website at Vacation Rental Management Association (VRMA). The new product features allow users to select the product of a partner’s brand beyond booking.com own products. Also, they introduced group connect, guest management, and enhance connectivity features in their new application.
• Recently in 2022, Expedia Group announced an Open World Technology platform. The technology is developed for partner agencies. The platform has a complete e-commerce suit, with various blocks like payments, chatbot, services, and fraud detection, and is perfect for the agency planning to enter the newly in online travel business.

Segmentation Analysis

By service type:.

• Transportation
• Vacation Packages
• Accommodation

By Device Platform:

By payment modes:.

• Debit / Credit Card
• Others (Vouchers, Discount Codes)

By Booking Type:

• Online Travel Agents
• Direct Travel Agents

By Customer Segment:

• Corporate Traveller
• Individual Traveller

By Age Group:

• 15-25 Years
• 26-35 Years
• 36-45 Years
• 46-55 Years
• 66-75 Years
• North America
• Latin America

Frequently Asked Questions

How is the historical performance of the market.

During 2018 to 2022, the market grew at a 6.70% CAGR.

Who are the Key Market Players of this market?

Airbnb, Trip Advisor Inc., and Trivago N.V. are key market players.

What factors contribute to the attraction of this market in Europe?

Increasing online travel bookings raises the market.

How Big is this market?

This market is valued at US$ 465.1 million in 2023.

How Big will be this Market by 2033?

This market is estimated to reach US$ 1,694.2 million by 2033.

Table of Content

List of tables, list of charts.

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Online Travel Agent Global Market Report 2024

• February 2024
• Region: Global
• The Business Research Company
• ID: 5939779
• Description

Table of Contents

Executive summary.

• Companies Mentioned

Methodology

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• The market characteristics section of the report defines and explains the market.
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• The forecasts are made after considering the major factors currently impacting the market. These include:
• The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
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• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Companies mentioned (partial list).

A selection of companies mentioned in this report includes, but is not limited to:

• Booking Holdings
• Expedia Group
• Trip.com Group Limited
• TripAdvisor
• eDreams Odigeo
• MakeMyTrip Limited
• lastminute.com NV
• Hostelworld Group
• Pegipegi.Com
• Cncn Travel
• Tongcheng Network Technology Co
• Huangbaoche
• China International Travel Service Corporation Limited
• Travelplan Australia
• Daily Hotel
• Thomas Cook India
• Jtb (Japan Travel Bureau) Corporation
• Japanican.Com
• Ab-In-Den-Urlaub.De
• Holidaycheck.De
• Sherpa Expeditions
• Stoke Travel
• Topdeck Travel
• Sicily Activities
• Flag Travel Holidays
• Soleto Travel
• Euroventure
• Skyscanner Ltd
• On The Beach Group Plc
• Booking.Com Ltd
• We Love Holidays Ltd
• Secret Escapes Ltd
• Voyage Prive Uk
• Anywayanyday
• Ozon Travel
• Ostrovok.Ru
• Onlinetours
• Intrepid Travel
• G Adventures
• Destination Services Mexico
• On The Go Tours
• Bel Air Travel
• Canada Travels
• Canuck Abroad
• Flightcentre.Ca
• Lonely Planet Global Inc
• Decolar.Com
• Submarino Viagens
• Exodus Travels
• Say Hueque Argentina Journeys
• Luxury Gold
• Peregrine Adventures
• Trexperience
• Tucan Travelintrepid Travel
• Travel Agent
• Travel Intermediaries

Global Online Travel Market Outlook, 2028

•  Report
• August 2023

Global Online Travel Market Overview, 2023-28

Online Travel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Online Travel Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

• November 2023

Online Travel - Thematic Intelligence

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Online Travel Market Size, Share Global Analysis Report, 2022 – 2028

• Global Online Travel Market Share Is Likely To Reach At A CAGR Value Of Around 14.9% By 2028

Online Travel Market Size, Share, Growth Analysis Report By Platform (Mobile, and Desktop), By Service Type (Vacation Packages, Travel Accommodation, and Transportation), By Mode of Booking (Direct Travel Suppliers, and Online Travel Agencies), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028

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Industry Insights

[225+ Pages Report] According to the report published by Facts Factors, the global online travel market size was worth around USD 354.25 billion in 2021 and is predicted to grow to around USD 1835.7 billion by 2028 with a compound annual growth rate (CAGR) of roughly 14.9% between 2022 and 2028. The report analyzes the global online travel market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the online travel market.

Market Overview

Online travel is a part of the tourism industry that makes use of digital technology and information present on the world wide web, to make travel arrangements for travel plans. Before the internet was accessible to all, travelers had to avail of the services of travel agencies to help them plan itineraries, book tickets, stays, and other travel-related arrangements. Since there was limited information access, a lot of times, travelers had to rely only on the information provided by the agency which included the places that should be visited, restricted number of days per location, cost of travel tickets, and other information. However, with the boom of technology and internet accessibility, the travel industry has now majorly shifted online. Even though offline travel agencies still function and many people avail of their services, a large section of the urban population is entirely dependent on details present online for travel-related arrangements. Digital travel has not only provided willing travelers with a wide range of options to choose from ranging from a travel destination to modes of transport available, but it has also opened a transparent flow of information for prospective travelers.

Key Insights

• As per the analysis shared by our research analyst, the global online travel market is estimated to grow annually at a CAGR of around 14.9% over the forecast period (2022-2028).
• In terms of revenue, the global online travel market size was valued at around USD 354.25 billion in 2021 and is projected to reach USD 1835.7 billion, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on platform segmentation, mobile was predicted to show maximum market share in the year 2021
• Based on service type segmentation, travel accommodation was the leading service in 2021.
• On the basis of region, North America was the leading revenue generator in 2021.

Covid-19 Impact

The global market cap size was one of the most heavily impacted industries during the pandemic. The online travel industry for the majority of 2020 and 1st quarter of 2021 remained restricted purely to the travel of healthcare professionals from countries willing to assist regions that have the fastest infection growth rate and lack of necessary medical professionals. Apart from such travel, the global market cap witnessed negligible growth during the period but heavy losses.

Growth Drivers

• High mobilization rate amongst people to propel market growth

The global online travel market is projected to grow owing to the high rate of mobilization and frequent domestic or international trips, either for long visits, short visits, or permanent stays. A trend of cross-country relocation amongst working professionals can be witnessed which is growing at a high rate. The relocation depends on work requirements and with globalization, more companies are now open to attracting talent even if they are from the same region. Organizations are willing to pay for expatriates if they can get their hands on the desired candidate. These factors greatly influence the global market growth rate, since in such cases, it is generally observed that the working professional eventually shifts base along with the entire family. Online travel is one of the best ways to make this a seamless transition since not only can the people pre-plan their travel details, they can stay within the budget owing to the transparency of information provided by online travel portals.

• Growing digital fraud to restrict market expansion

The global market cap is projected to be affected by the growing number of digital frauds resulting in more people being susceptible to scams. Since there are numerous websites on the internet that are not authentic and can lead to more fraud, viruses, malware, and data leakage, it has caused a growing hesitancy amongst new internet users to completely trust online travel packages.

Opportunities

• Prevailing offers on digital travel booking to attract more customers

Online travel booking comes with its own set of benefits. Digital travel companies offer a lot of offers and coupon codes that can result in discounted prices for flight tickets, hotel booking, and other travel-related aspects. There is a growing emergence of websites that offer only seasonal coupons to be used later. Some other benefits include a point collection system based on the number of travel bookings done from a particular website which encourages more customers to use online travel platforms for bookings and planning.

• Problems with application-related bookings to challenge the market expansion

The global online travel market expansion is expected to bear losses owing to the various problems associated with bookings made through application bookings. As per a recent survey, around 22% of respondents claimed that they had to face repercussions owing to incorrect bookings because of website malfunction, and 41% claimed that websites were confusing or slow resulting in loss of consumer database.

Segmentation Analysis

The global online travel market is segmented by platform, service type, mode of booking, and region.

Based on platform, the global market segments are mobile and desktop. The global market is currently dominated by the mobile segment owing to its convenience, and on-the-go bookings. The segment is expected to grow at a CAGR of 15.75% by 2028.

Based on service type, the global market is divided into vacation packages, travel accommodation, and transportation. In 2021, the global market generated the highest revenue from the travel accommodation segment owing to the availability of a wide range of options at discounted prices. As per estimates, more than USD 120 billion was generated from this segment in 2020.

Based on mode of booking, direct travel suppliers and online travel agencies are two segments with direct travel suppliers witnessing a major segmental revenue. As per official reports from booking.com, the company amassed revenue of USD 14.64 billion in 2022.

Recent Developments:

• In October 2019, OYO Hotel & Homes, an Indian multinational hospitality chain, announced the launch of online travel portals dedicated especially to travel agents. The portal is termed SuperAgent and is expected to enhance the booking experience for travel agents that work offline
• In February 2022, Majorel, a next-generation end-to-end customer experience solution provider for new entrants, announced the expansion of its strategic partnership with the Dutch online agency, Booking.com. With the partnership, the latter has agreed to transfer 12 out of 14 internal customer service centers in the Americas, Asia-Pacific, and Europe to Majorel.

Report Scope

Regional analysis.

• North America to generate the highest revenue in the forecast period

The global online travel market is projected to be dominated by North America in the coming period following the trend from the previous years. The United States is a major contributor to the regional market revenue with more than 79 million international tourists visiting the country in 2019. As claimed by Phocuswrite, Booking Holdings, and Expedia, two international online travel agencies dominated the country’s travel bookings with more than 92% of the region’s market share. Although the market value declined by 58.5% during the pandemic, in the coming years, owing to eased travel in Canada, the revenue is expected to mark a rising trend. Revenue in North America is further propelled by the large-scale access to internet connectivity as well as the already existing huge consumer database resulting in mass awareness about online travel and the benefits associated with it.

Competitive Analysis

• Tripadvisor
• Hostelworld.com
• MakeMyTrip Ltd
• Ebury Partners
• Expedia Group

The global online travel market is segmented as follows:

By Platform

By service type.

• Vacation Packages
• Travel Accommodation
• Transportation

By Mode of Booking

• Direct Travel Suppliers
• Online Travel Agencies

By Regional Segment Analysis

• The Netherlands
• Rest of Europe
• South Korea
• Rest of Southeast Asia
• Rest of Asia Pacific
• Saudi Arabia
• South Africa
• Rest of the Middle East & Africa
• Rest of Latin America

Industry Major Market Players

Frequently asked questions, 1. which key factors will influence online travel market growth over 2022-2028, 2. what will be the value of the online travel market during 2022-2028, 3. which region will contribute notably towards the online travel market value, 4. which are the major players leveraging the online travel market growth.

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Online Travel Market Trends and Analysis by Region, Transportation, Accommodation, Travel Intermediation and Segment Forecast to 2030

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Published: May 05, 2023 Report Code: GRCBBR00002TT-BB

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• Report Overview

Key Players

Table of contents.

Accessing the in-depth insight from the ‘Online Travel’ report can help you:

• Make informed decisions about investments, partnerships, and product development
• Identify your competitors positioning to stay ahead in the market
• Identify promising areas, growth trends, segments, and markets to expand your product portfolio or successful investment
• Anticipate expected changes in demand and adjust your business development strategies
• Identify potential areas of disruption

How is our ‘ Online Travel’ report different from other reports in the market?

• The report presents in-depth market sizing and forecast at a segment level for more than 15 countries including historical and forecast analysis for the period 2019-2030 for market assessment
• Detailed segmentation by type – Transportation (Airlines, Car Rental, Others), Travel Accommodation, Travel Intermediation (Online Travel Agencies, Tour Operator Websites, Other Travel Intermediaries)
• Detailed value chain analysis helping businesses identify areas where they can improve their efficiency and effectiveness, reduce costs, and enhance their competitive advantage
• The report offers consumer, industry, and enterprise trends, along with challenging factors impacting the online travel market.
• The growth innovation matrix included in the report, divides the market players in to four categories i.e., flagbearers, contenders, specialists, and experimenters, which will help value chain participants in understanding how competition is performing based on their revenue growth and their R&D efforts
• Competitive profiling and benchmarking of key players in the market to provide deeper understanding of industry competition

We recommend this valuable source of information to anyone involved in:

• Online Travel Agents
• Tour Operators
• Direct Suppliers
• Hotel Groups
• Car Rental Companies
• Technology Companies
• Ancillary Suppliers
• Venture Capital Firms

To Get a Snapshot of the Online Travel Market Report, Download a Free Report Sample

Online Travel Market Overview

The online travel market will be valued at $2.3 trillion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 10.3% over the forecast period. The proliferation of mobile devices, improved network connectivity, and rising disposable income are some of the prime factors responsible for the growth of this market. Furthermore, the growing interest of individuals in frequent travel coupled with the emergence of vlogging culture is anticipated to contribute to market growth.

The travel and tourism industry experienced a significant drop in revenue during the pandemic outbreak owing to travel restriction imposed by governments worldwide. This impacted the sales across the online as well as offline channels with the market value of online travel intermediaries and in-store travel intermediaries declining by 60.1% and 63.8% YoY respectively. However, the impact of COVID-19 compelled several consumers to use online services, which is anticipated to benefit and accelerate the uptake of online travel in the future.

Online Travel Market Outlook, 2019-2030 ($ Trillion)

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Online travel booking enables travel and tourism companies to better engage with their customers, which ensures improved customer satisfaction. Furthermore, it helped travel companies and consumers in managing travel bookings while facing uncertainties in terms of travel dates and cancellations during COVID-19 outbreak. This coupled with changing customer demands, compelled travel companies to invest in updating their websites and building travel apps through which travel brands can expand their digital presence and offer various features and discounts, thereby enhancing customer booking experience.

Online travel booking is gaining immense popularity with the younger generation. Millennials and Gen Z are influenced by digitally smart products, owing to which they are expected to look out for advanced booking systems that offer them a personalized experience. As such travel companies are investing in integrating technologies such as artificial intelligence , machine learning , and Big Data to help automate the online travel booking process, which is anticipated to attract young consumers. Travel companies can leverage the traveler analytics generated by Big Data and offer tailored packages, which is expected to help attract more website and app traffic, subsequently contributing to market growth.

Several travel companies are introducing online platforms and applications for travel booking to capitalize on the expansion and automation capabilities it provides to travel companies. However, online platforms are also vulnerable to data breaches, which may pose a challenge to market growth. As reported in 2019 by American Airlines and United Airlines, both companies were compromised with data breachers stealing miles from the 10,000 reward accounts. With a large amount of personal consumer data on the websites, online travel companies are one of the common targets for cyber-attackers. As such, travel companies are investing in integrating advanced cybersecurity solutions in order to mitigate the threat of cyber-attacks and reassure travelers about the safety of their data.

Online Travel Market Segmentation by Type

The online travel type category is broken down into three segments, including transportation, travel accommodation, and travel intermediation. The transportation segment is anticipated to dominate the online travel market in 2023. The increasing amount of online booking for trains, airlines, buses, and cars coupled with rapid urbanization has contributed to the growth of this segment.

Online Travel Market Share by Type, 2023 (%)

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The travel accommodation segment is expected to exhibit the fastest growth of more than 10% during the forecast period. Travel companies provide a variety of accommodations nowadays such as homestays, hotel rooms, villas, and more, which enables a consumer to book their preferred options based on the requirements. Additionally, travel companies offer these accommodations in different packages such as honeymoon suites, with meal options, group stays, and others, in order to attract various consumer groups, which is contributing to market growth.

The transportation segment is expected to be followed by travel intermediation segment with second highest market share in 2023. This segment is bifurcated in to three sub-segments, namely, online travel agencies (OTAs), tour operator websites, and other travel intermediaries. OTAs held the significant market share of the travel intermediation segment in the past few years and is expected to retain its dominance over the forecast period. The high market share is attributed to the broad range of services that these agencies provide access to the customer. Travelers can research and book variety of products and services, including flights, hotels, cars, activities, and cruises, among others with the travel suppliers though OTAs, which has fueled the demand for this segment.

Online Travel Market Analysis by Region

The North America region is expected to hold the highest market share in 2023 and is anticipated to continue its strong growth over the forecast period. US is the leading market in the region owing to the high technology penetration across the country. Additionally, early technology adoption and enhanced network connectivity are the factors responsible for market growth in North America. Europe held the second highest market share in the online travel market owing to government initiatives in promoting travel & tourism and favorable business environment across the European countries.

Asia-Pacific Online Travel Market Share by Country, 2023 (%)

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The Asia Pacific online travel market is expected to register the fastest growth of more than 10% over the forecast period. This growth is attributed to the enhanced network connectivity and rising disposable income across the region. Additionally, the region has significant amount of young tech-savvy population, responsible for the emerging trend of making travel vlogs, which is further anticipated to boost domestic and international travel across the region, thereby fueling market growth.

The South and Central America and the MEA are anticipated to exhibit strong growth over the future owing to government initiatives to promote tourism across the regions. The South and Central American countries offer tourists with natural attractions such as deserts, jungles, and mountains along with different activities in national parks, thereby attracting wildlife enthusiasts, adventure seekers, and hikers.

Furthermore, the countries in this region also offer various culinary experiences from street food to fine dining restaurants. Although, the region has lot to offer to the travel and tourism industry, lack of technological infrastructure may pose a challenge to market growth. Enhancement in technological capabilities such as data centers and telecommunication networks may help travel vendors in expanding online travel booking network across the region, in turn contributing to market growth.

The Middle East has been experiencing a solid growth with the resumption of tourism activities post pandemic. The frequency of online booking has paced up with the emerging trend of escapism travel, which allows people to work from anywhere they want. The last-minute travel bookings are expected to gain momentum with an increased desire to travel among the domestic travelers.

Additionally, with the increasing demand of luxury hotels , total number of 32,621 hotel rooms were under construction in Saudi Arabia in 2022, which bodes well for market growth. This coupled with the robust technological and tourism infrastructure in the region is expected to fuel the market growth.

Online Travel Market – Competitive Landscape

The online travel market is highly competitive market with the presence of several established and small regional players operating in the market. The established companies in the market are focused on merging and acquiring smaller firms in order to expand their business to new regions as well as utilize their technology to enhance online travel booking platforms and enhance user experience.

The market has three types of suppliers, including online travel agencies (OTAs), direct suppliers, and ancillary suppliers. OTAs are currently dominating the market while facing competition from direct suppliers who are indulging in developing their own online travel booking platforms in order to better engage with the customers.

Key players in the online travel market include:

• Booking Holdings Inc
• eDreams ODIGEO SA
• Expedia Group Inc
• Flight Centre Travel Group Ltd
• MakeMyTrip Ltd
• Singapore Airlines Ltd
• The Emirates Group
• Tongcheng Travel Holdings Ltd
• Trainline plc
• com Group Ltd

Other Online Travel Market Vendors Mentioned

TripAdvisor, Uber Technologies Inc, Marriott International, Hilton Worldwide Holdings Inc, Thomas Cook (India) Limited, lastminute.com N.V., Adventure Inc., Tuniu Corporation, Easy Trip Planners Ltd, Yatra Online Inc, and Hostelworld Group PLC, among others.

To Know More About Leading Online Travel Market Players, Download a Free Report Sample

Online Travel Market Research Scope

Online travel market segments and scope.

GlobalData Plc has segmented the online travel market report by type and region:

Online Travel Type Outlook (Revenue, $ Billion 2019-2030)

• Travel Accommodation
• Online Travel Agencies
• Tour Operator Websites
• Other Online Travel Intermediaries

Online Travel Regional Outlook (Revenue, $ Billion 2019-2030)

• North America
• Netherlands
• Switzerland
• Rest of Europe
• Asia-Pacific
• South Korea
• Rest of Asia Pacific
• South and Central America
• Rest of South and Central America
• Middle East and Africa
• Saudi Arabia
• South Africa
• Rest of Middle East and Africa
• Chapter 1 Executive Summary
• Chapter 2 Research Scope and Segmentation
• Chapter 3 Market Overview
• 4.1 Industry Value Chain Analysis
• 4.2 Consumer Trends
• 4.3 Online Travel – Market Challenges Analysis
• 4.4 Online Travel – Market Opportunities Analysis
• 4.5 Industrial Trends
• 4.6 Enterprise Trends
• 4.7 Online Travel – Dashboard Analytics
• 5.1 Global Market Revenue Snapshot
• 5.2.1.1 Global Online Travel Market Estimates and Forecasts, by Type, Transportation, 2019-2030 ($ Billion)
• 5.2.1.2.1 Global Online Travel Market Estimates and Forecasts, by Airlines, 2019-2030 ($ Billion)
• 5.2.1.3.1 Global Online Travel Market Estimates and Forecasts, by Car Rental, 2019-2030 ($ Billion)
• 5.2.1.4.1 Global Online Travel Market Estimates and Forecasts, by Others, 2019-2030 ($ Billion)
• 5.2.2.1 Global Online Travel Market Estimates and Forecasts, by Type, Travel Accommodation, 2019-2030 ($ Billion)
• 5.3.1.1 Global Online Travel Market Estimates and Forecasts, by Type, Travel Intermediation, 2019-2030 ($ Billion)
• 5.3.1.2.1 Global Online Travel Market Estimates and Forecasts, by Online Travel Agencies, 2019-2030 ($ Billion)
• 5.3.1.2.1 Global Online Travel Market Estimates and Forecasts, by Tour Operator Websites, 2019-2030 ($ Billion)
• 5.3.1.4.1 Global Online Travel Market Estimates and Forecasts, by Other Online Travel Intermediaries, 2019-2030 ($ Billion)
• 6.1 Online Travel – Regional Deep Dive
• 6.2.1 North America Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.2.2 North America Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.2.3.1 US Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.2.3.2 US Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.2.4.1 Canada Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.2.4.2 Canada Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.2.5.1 Mexico Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.2.5.2 Mexico Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.1 Europe Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.2 Europe Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.3.1 UK Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.3.2 UK Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.4.1 France Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.4.2 France Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.5.1 Germany Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.5.2 Germany Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.6.1 Netherlands Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.6.2 Netherlands Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.7.1 Italy Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.7.2 Italy Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.8.1 Spain Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.8.2 Spain Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.9.1 Belgium Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.9.2 Belgium Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.10.1 Switzerland Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.10.2 Switzerland Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.11.1 Sweden Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.11.2 Sweden Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.3.12.1 Rest of Europe Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.3.12.2 Rest of Europe Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.1 Asia Pacific Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.2 Asia Pacific Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.3.1 China Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.3.2 China Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.4.1 Japan Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.4.2 Japan Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.5.1 India Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.5.2 India Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.6.1 South Korea Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.6.2 South Korea Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.7.1 Australia Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.7.2 Australia Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.8.1 Singapore Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.8.2 Singapore Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.9.1 Malaysia Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.9.2 Malaysia Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.10.1 Indonesia Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.10.2 Indonesia Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.11.1 Thailand Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.11.2 Thailand Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.4.12.1 Rest of Asia Pacific Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.4.12.2 Rest of Asia Pacific Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.5.1 South and Central America Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.5.2 South and Central America Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.5.3.1 Brazil Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.5.3.2 Brazil Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.5.4.1 Argentina Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.5.4.2 Argentina Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.5.5.1 Rest of South and Central America Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.5.5.2 Rest of South and Central America Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.6.1 Middle East & Africa Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.6.2 Middle East & Africa Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.6.3.1 Saudi Arabia Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.6.3.2 GCC Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.6.4.1 South Africa Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.6.4.2 South Africa Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.6.5.1 UAE Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.6.5.2 UAE Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 6.6.6.1 Rest of Middle East & Africa Online Travel Market Estimates & Forecasts, 2019-2030 ($ Billion)
• 6.6.6.2 Rest of Middle East & Africa Online Travel Market Estimates & Forecasts, by Type 2019-2030 ($ Billion)
• 7.1 Online Travel Market – Growth Innovation Matrix
• 7.2 Online Travel Market – Mergers & Acquisitions
• 7.3 Online Travel Market – Company Profiles
• 8.1 Airbnb Inc
• 8.2 American Airlines Group Inc
• 8.3 Booking Holdings Inc
• 8.4 Despegar.com Corp
• 8.5 eDreams ODIGEO SA
• 8.6 Expedia Group Inc
• 8.7 Flight Centre Travel Group Ltd
• 8.8 MakeMyTrip Ltd
• 8.9 Singapore Airlines Ltd
• 8.10 The Emirates Group
• 8.11 Tongcheng Travel Holdings Ltd
• 8.12 Trainline plc
• 8.13 Trip.com Group Ltd

Fig 81 Rest of Middle East and Africa Online Travel Market Estimates & Forecasts, by Type, 2019-2030 ($ Million)

Frequently asked questions

The online travel market size globally will be valued at $2.3 trillion in 2023.

The online travel market is expected to grow at a CAGR of 10.3% over the forecast period (2023-2030).

The increasing population coupled with the rising disposable income and proliferation of mobile devices are expected to drive the online travel market growth.

Type Segments: Transportation (Airlines, Car Rental, Others), Travel Accommodation, Travel Intermediation (Online Travel Agencies, Tour Operator Websites, Other Travel Intermediaries)

The leading online travel companies are Airbnb, American Airlines Group Inc, Booking Holdings Inc, Despegar.com Corp, eDreams ODIGEO SA, Expedia Group Inc, Flight Centre Travel Group Ltd, MakeMyTrip Ltd, Singapore Airlines Ltd, The Emirates Group, Tongcheng Travel Holdings Ltd, Trainline plc, Trip.com Group Ltd, Trivago NV

GlobalData’s focus is on providing reliable and accurate data that is supported by robust research methodology. Our reports undergo rigorous quality checks and are based on primary and secondary research sources, ensuring that the numbers and insights provided are trustworthy.  However, despite the best efforts to gather comprehensive data, there could be instances where the available data is limited, making it challenging to provide segmentation. In such cases, GlobalData may choose to provide high-level insights and general trends rather than forcing segmentation that may not be backed by sufficient data. This approach ensures that the report’s overall quality and credibility are maintained.

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• Online travel market size worldwide 2017-2028

The market size of the online travel industry worldwide increased sharply in 2023 compared to the previous year. After falling to 225 billion U.S. dollars with the onset of the coronavirus (COVID-19) pandemic, the online travel market's global revenue bounced back in 2022, then rose further in 2023, reaching an estimated 599 billion U.S. dollars. This figure was expected to grow steadily in the following years, exceeding 800 billion U.S. dollars by 2028.

Online travel market size worldwide from 2017 to 2023, with a forecast until 2028 (in billion U.S. dollars)

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Show sources information Show publisher information Use Ask Statista Research Service

December 2023

2017 to 2023

Estimated data from Statista's Mobility Market Insights . Figures are based on the following travel and tourism markets: hotels, vacation rentals, cruises, package holidays, and camping.

Data refer to direct bookings via the website of the service provider, as well as bookings via online travel agencies (OTAs). Figures do not consider other types of revenue which might not be included in the initial bookings (e.g. hotel revenue generated by conference room bookings, restaurants, or other services).

Other statistics on the topic Online travel market

• Revenue of Booking Holdings worldwide 2007-2023
• Revenue of Expedia Group, Inc. worldwide 2007-2023
• Revenue of Tripadvisor worldwide 2008-2023
• Number of bookings through Booking Holdings worldwide 2010-2023, by segment

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Statistics on " Online travel market worldwide "

• Market size of the tourism sector worldwide 2011-2024
• Travel and tourism revenue worldwide 2019-2028, by segment
• Distribution of sales channels in the travel and tourism market worldwide 2018-2028
• Revenue of the travel apps industry worldwide 2017-2027
• Forecast EV/Revenue ratio in the online travel market 2024, by segment
• Forecast EV/EBITDA ratio in the online travel market 2024, by segment
• Travel product online bookings in the U.S. 2023
• Travel product online bookings in Canada 2023
• Travel product online bookings in the UK 2023
• Travel product online bookings in China 2023
• Travel product online bookings in India 2023
• Importance to book a trip fully online among travelers worldwide 2023, by generation
• Revenue of leading OTAs worldwide 2019-2022
• Marketing expenses of leading OTAs worldwide 2019-2022
• Marketing/revenue ratio of leading OTAs worldwide 2019-2022
• Number of employees at leading travel companies worldwide 2022
• Market cap of leading online travel companies worldwide 2023
• Number of aggregated downloads of leading online travel agency apps worldwide 2023
• Most popular travel and tourism websites worldwide 2024
• Operating income of Booking Holdings worldwide 2007-2023
• Net income of Booking Holdings worldwide 2007-2023
• Revenue of Expedia Group, Inc. worldwide 2017-2023, by business model
• Operating income of Expedia Group, Inc. worldwide 2007-2023
• Net income of Expedia Group, Inc. worldwide 2007-2023
• Airbnb revenue worldwide 2017-2023
• Airbnb revenue worldwide 2019-2023, by region
• Airbnb operations income worldwide 2017-2023
• Airbnb net income worldwide 2017-2023
• Total revenue of Trip.com Group 2012-2022
• Revenue of Trip.com 2012-2022, by product
• Revenue of Trip.com 2017-2022, by region
• Net profit of Trip.com 2012-2022
• Revenue of Tripadvisor worldwide 2017-2023, by business segment
• Revenue of Tripadvisor worldwide 2012-2023, by region
• Operating income of Tripadvisor worldwide 2008-2023
• Net income of Tripadvisor worldwide 2008-2023

Other statistics that may interest you Online travel market worldwide

Industry overview

• Premium Statistic Market size of the tourism sector worldwide 2011-2024
• Premium Statistic Travel and tourism revenue worldwide 2019-2028, by segment
• Premium Statistic Distribution of sales channels in the travel and tourism market worldwide 2018-2028
• Premium Statistic Online travel market size worldwide 2017-2028
• Premium Statistic Revenue of the travel apps industry worldwide 2017-2027
• Premium Statistic Forecast EV/Revenue ratio in the online travel market 2024, by segment
• Premium Statistic Forecast EV/EBITDA ratio in the online travel market 2024, by segment

Online bookings

• Premium Statistic Travel product online bookings in the U.S. 2023
• Premium Statistic Travel product online bookings in Canada 2023
• Premium Statistic Travel product online bookings in the UK 2023
• Premium Statistic Travel product online bookings in China 2023
• Premium Statistic Travel product online bookings in India 2023
• Premium Statistic Importance to book a trip fully online among travelers worldwide 2023, by generation

Market leaders

• Premium Statistic Revenue of leading OTAs worldwide 2019-2022
• Premium Statistic Marketing expenses of leading OTAs worldwide 2019-2022
• Premium Statistic Marketing/revenue ratio of leading OTAs worldwide 2019-2022
• Premium Statistic Number of employees at leading travel companies worldwide 2022
• Basic Statistic Market cap of leading online travel companies worldwide 2023
• Premium Statistic Number of aggregated downloads of leading online travel agency apps worldwide 2023
• Premium Statistic Most popular travel and tourism websites worldwide 2024

Booking Holdings

• Basic Statistic Revenue of Booking Holdings worldwide 2007-2023
• Premium Statistic Number of bookings through Booking Holdings worldwide 2010-2023, by segment
• Premium Statistic Operating income of Booking Holdings worldwide 2007-2023
• Premium Statistic Net income of Booking Holdings worldwide 2007-2023

Expedia Group

• Premium Statistic Revenue of Expedia Group, Inc. worldwide 2007-2023
• Premium Statistic Revenue of Expedia Group, Inc. worldwide 2017-2023, by business model
• Premium Statistic Operating income of Expedia Group, Inc. worldwide 2007-2023
• Premium Statistic Net income of Expedia Group, Inc. worldwide 2007-2023
• Premium Statistic Airbnb revenue worldwide 2017-2023
• Premium Statistic Airbnb revenue worldwide 2019-2023, by region
• Premium Statistic Airbnb operations income worldwide 2017-2023
• Premium Statistic Airbnb net income worldwide 2017-2023

Trip.com Group

• Premium Statistic Total revenue of Trip.com Group 2012-2022
• Premium Statistic Revenue of Trip.com 2012-2022, by product
• Premium Statistic Revenue of Trip.com 2017-2022, by region
• Premium Statistic Net profit of Trip.com 2012-2022

Tripadvisor

• Premium Statistic Revenue of Tripadvisor worldwide 2008-2023
• Premium Statistic Revenue of Tripadvisor worldwide 2017-2023, by business segment
• Premium Statistic Revenue of Tripadvisor worldwide 2012-2023, by region
• Premium Statistic Operating income of Tripadvisor worldwide 2008-2023
• Premium Statistic Net income of Tripadvisor worldwide 2008-2023

Further related statistics

• Premium Statistic Online travel agencies: growth in gross bookings in Europe 2013-2016
• Premium Statistic Online travel agencies: share of hotel bookings in Europe 2012-2016
• Premium Statistic Online travel agency market value 2014, by region
• Premium Statistic Lastminute.com Group revenue worldwide 2017-2022
• Premium Statistic Lastminute.com Group profit/loss before income tax 2016-2020
• Premium Statistic Transaction volume of the Chinese online travel booking market 2013-2022
• Premium Statistic Growth of the online travel booking market transaction volume in China 2014-2022
• Premium Statistic Information U.S. travelers obtain about travel sites before online booking U.S. 2017
• Premium Statistic Total assets of Booking Holdings worldwide 2007-2023
• Premium Statistic Time consumers spent using travel-related websites APAC 2019
• Premium Statistic Expedia travel bookings in Germany 2017-2020
• Premium Statistic Number of visits per travel-related website user APAC 2019
• Premium Statistic Share of U.S. residents who have used select OTAs and metasearch engines 2017
• Premium Statistic Number of users of buses in Asia 2019-2028
• Premium Statistic Lastminute.com Group revenue share in 2019, by product category
• Premium Statistic Penetration rate of trains in China 2019-2028

Further Content: You might find this interesting as well

• Online travel agencies: growth in gross bookings in Europe 2013-2016
• Online travel agencies: share of hotel bookings in Europe 2012-2016
• Online travel agency market value 2014, by region
• Lastminute.com Group revenue worldwide 2017-2022
• Lastminute.com Group profit/loss before income tax 2016-2020
• Transaction volume of the Chinese online travel booking market 2013-2022
• Growth of the online travel booking market transaction volume in China 2014-2022
• Information U.S. travelers obtain about travel sites before online booking U.S. 2017
• Total assets of Booking Holdings worldwide 2007-2023
• Time consumers spent using travel-related websites APAC 2019
• Expedia travel bookings in Germany 2017-2020
• Number of visits per travel-related website user APAC 2019
• Share of U.S. residents who have used select OTAs and metasearch engines 2017
• Number of users of buses in Asia 2019-2028
• Lastminute.com Group revenue share in 2019, by product category
• Penetration rate of trains in China 2019-2028

Related Travel Research

U.s. online travel agency market report 2020-2024.

Free for Open Access Subscribers

Coming off a year of steady growth with rosy outlooks and big plans for 2020, U.S. online travel agency bookings plummeted as a pandemic brought the world to a standstill. OTAs suffered a steep 59% drop in gross bookings. Adapting quickly during volatile times, OTAs highlighted the power of being nimble and innovative to continue servicing both customers and partners. This report provides an overview of the U.S. online travel agency landscape, including market sizing and projections through 2024, analysis, key trends, major players and more.

For more on the U.S. travel marketplace, check out the following:

• U.S. Travel Market Report 2020-2024
• U.S. Airline Market Report 2020-2024
• U.S. Hotel & Lodging Market Report 2020-2024
• U.S. Car Rental Market Report 2020-2024
• U.S. Cruise Market Report 2020-2024
• U.S. Packaged Travel Market Report 2020-2024
• U.S. Travel Market Data Sheet 2020-2024 (subscriber only)

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Marketing for Travel Agencies: Understanding and Surviving in the Online Travel Industry

• 16 min read
• Business ,   Travel
• 23 Dec, 2019
• No comments Share

Understanding the travel agency market

• Leading players holding the market. Booking Holdings with its 41 percent share and Expedia with about 32 percent are dominating the online travel agencies market. And their shares keep growing. So, for travel agencies, it’s difficult to stay afloat without a specific niche.
• Distrust. People tend to be skeptical and even suspicious in arranging their trips. They would rather follow word of mouth, go to their old, time-tested local travel agent, or stick to larger players, even if they are not totally satisfied. So, new travel agencies have to work hard to break through the wall of mistrust.
• Invisibility. Unless a travel provider puts a lot of effort and resources into promotion, it risks staying unnoticed. Here, the choice of distribution channel plays a decisive role.

This ad, published in National Geographic by Econo-Travel hotels, dates back to 1978

It will take days for a regular traveler to create such a complex itinerary, Eightydays cuts this to minutes

Investigate and define your market and target audience

Skift, Experiential Traveler Survey , 2019

Analyze your competitors

Establish your partnerships with service providers, define your pricing strategy, determine the right distribution and promotion channels, metasearch engine.

• You can manually check prices and manually change markups.
• You can use automated dashboards to track your performance and then manually change markups.
• The most advanced scenario is to create an automated commission engine that will keep all your markup rules and will be adjusting your margin on the go, reacting to competitor results.

Prestigia, a small OTA with about 200 thousand monthly visitors, wins on Kayak with this hotel deal as it targets boutique accommodation

Search engine

Orbitz has dedicated landing pages for hundreds of their deals and packs them with all useful information that a traveler may need: a booking widget, selected fares, basic information, and even short copy describing the trip

• Internal activities to meet technical standards of search engines. These usually include installing tools like Google Console and Google Analytics, working with meta tags, reviewing a website for the right page redirection, code errors, and others.
• External activities usually include working with keywords, texts in general, and acquiring backlinks from other websites.

Email marketing

One of the great examples of submitting discounts was Kimpton Hotels and Restaurants. The discounts promoted the unpopular post-Christmas holiday season

As you can see, there are both wallet-friendly and luxurious destinations and tour packages

Web adverts

Video blogging and other social media, final recommendations.