In 2023, the online travel market size in Singapore was the highest in selected Southeast Asian countries, of which the gross merchandise value (GMV) reached seven billion U.S. dollars. Comparatively, for the same year, the Philippines had an online travel market size value of three billion U.S. dollars.
Online travel in the Asia-Pacific region
Thanks to the growing middle class and the development of tourism infrastructure, the value of the travel market in the Asia-Pacific region has increased in recent years. For instance, the transaction volume of the online travel booking market in China experienced rapid growth until the COVID-19 pandemic slowdown and is estimated to be on its way to recovering to its pre-pandemic levels in the coming years. Besides being a leading online travel market in the Asia-Pacific region, Singapore also had a high share of consumers who had used online travel agencies (OTAs) in Asia.
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Google. (October 31, 2023). Online travel market size in the Asia-Pacific region in 2023, by country (in billion U.S. dollars) [Graph]. In Statista. Retrieved October 06, 2024, from https://www.statista.com/statistics/978271/sea-online-travel-market-size/
Google. "Online travel market size in the Asia-Pacific region in 2023, by country (in billion U.S. dollars)." Chart. October 31, 2023. Statista. Accessed October 06, 2024. https://www.statista.com/statistics/978271/sea-online-travel-market-size/
Google. (2023). Online travel market size in the Asia-Pacific region in 2023, by country (in billion U.S. dollars). Statista. Statista Inc.. Accessed: October 06, 2024. https://www.statista.com/statistics/978271/sea-online-travel-market-size/
Google. "Online Travel Market Size in The Asia-pacific Region in 2023, by Country (in Billion U.S. Dollars)." Statista, Statista Inc., 31 Oct 2023, https://www.statista.com/statistics/978271/sea-online-travel-market-size/
Google, Online travel market size in the Asia-Pacific region in 2023, by country (in billion U.S. dollars) Statista, https://www.statista.com/statistics/978271/sea-online-travel-market-size/ (last visited October 06, 2024)
Online travel market size in the Asia-Pacific region in 2023, by country (in billion U.S. dollars) [Graph], Google, October 31, 2023. [Online]. Available: https://www.statista.com/statistics/978271/sea-online-travel-market-size/