The sector will reach USD 1.06 trillion by 2027 at a CAGR of 5.2%.

Dublin, February 16, 2023 /PRNewswire/ — The “Online Travel Agent Global Market Report 2023” report has been added here. ResearchAndMarkets.com’s Providing.

The global online travel agency market will grow from 761.9 billion dollars In 2022 to 865.5 billion dollars In the year at a compound annual growth rate (CAGR) of 13.6% by 2023. The online travel agency market is expected to grow 1.060.01 billion dollars by 2027 at a CAGR of 5.2%.

Asia Pacific It was the largest region in the online travel agency market in 2022. Western Europe It was the second largest region in the online travel agency market. Regions covered in Online Travel Agent Market report are: Asia-Pacific, Western Europe, Eastern Europe, North America, south america, middle eastAnd Africa.

The increase in smartphone users and growing internet access is expected to boost the online tourism industry and the business of travel agents over the period. Increasing internet penetration and increasing number of smartphone users are contributing to the consumer’s shift to online channels for travel ticketing and hotel booking.

For example, according to a special report on Digital 2020 published by We Are Social January 2020In the year In 2020, the number of Internet users worldwide increased to 4.54 billion, a growth of 7% or 298 million new users. January 2019.

In addition, according to Zippy, there are 6.65 billion smartphone users worldwide in 2022, and this number is expected to grow to 7.34 billion in 2025. Online Travel Agent Market Revenue in Upcoming Years.

Increasing chances of uncertain events such as the Covid-19 pandemic or natural disasters will limit the growth of the tourism industry and online travel agency. According to UNWTO estimates, international tourist destinations in 2020 are predicted to decrease by 20 to 30 percent compared to the previous year, which will turn into a loss. 30 dollars50 billion in travel spending by international visitors. Therefore, the online travel agency market is set to register a decline in 2020 due to the impact of COVID-19 on the world. Moreover, according to Travel Daily media news, Typhoon Mangkht was crushed hong kong And China It brought the tourism, aviation and transportation industries to a standstill. Therefore, the possibility of natural events is hindering the growth of the tourism industry, including the online travel agency market, in the coming years.

The government of various countries taking initiatives to promote tourism and build strong tourism infrastructure to increase revenue from the tourism industry is a major trend that is fueling the growth of the current online travel agency market. For example, according to the budget 2022, the government of India He assigned an additional amount of INR 2400 crores (307.12 million dollars) to the Ministry of Tourism. This budget is 18.42 percent higher than 2021-22 and will be used by the Ministry of Tourism for tourism infrastructure, marketing and promotion and capacity building. Therefore, government initiatives and measures to promote tourism and develop tourism infrastructure should be considered as a key trend in the online travel agency market at the time.

in January 2020Take, to Latin AmericaEstablished online travel company has found the best day trip group 136 million dollars. This acquisition will allow Despegar to increase its revenue by 25%, strengthening its market position as a leading travel agency. Mexico And Latin America. Best day trip group a Mexico– Established online travel agency.

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Scope
Markets Covered:

1) By Service Type: Vacation Packages; transportation; Accommodation
2) by platform: based on mobile/tablets; Desktop based
3) by category: hotel reservation; tickets; Other categories

Key topics covered:

1. Executive summary

2. Features of the online travel agency market

3. Online travel agency market trends and strategies

4. Online travel agency market – Macroeconomics

5. Online travel agency market size and growth

6. Online travel agency market segmentation

7. Regional and Country Analysis of the Online Travel Agent Market

8. Asia-Pacific online travel agency market

9. China online travel agency market

10. Indian Online Travel Agent Market

11. Japan’s online travel agency market

12. Australia’s online travel agency market

13. Indonesia’s online travel agency market

14. South Korea online travel agency market

15. Western European online travel agency market

16. UK online travel agency market

17. Germany online travel agency market

18. French online travel agency market

19. Eastern European online travel agency market

20. Russian online travel agency market

21. North American online travel agency market

22. America Online travel agency market

23. South American online travel agency market

24. Brazil’s online travel agency market

25. Middle East Online Travel Agency Market

26. Africa online travel agency market

27. Online Travel Agent Market Competitive Landscape and Company Profiles

28. Key mergers and acquisitions in the online travel agency market

29. Future Outlook and Potential Analysis of the Online Travel Agent Market

30. Appendix

This report includes a selection of companies mentioned

For more information about this report, visit https://www.researchandmarkets.com/r/m79fou-travel?w=5

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