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Online travel market - statistics & facts

Most industries have become increasingly digitized over the last decade. The travel industry in particular has gone to great lengths to cultivate its online presence. The online travel industry is primarily made up of travel e-commerce sites and review sites. Travel e-commerce sites specialize in the selling of travel products such as flights, accommodation, and rental cars. These can be either purchased directly through a travel company’s website, or through an online travel agency (OTA). Meanwhile, travel review websites, such as TripAdvisor, allow travelers to post their experience of hotels, restaurants and other hospitality purchases online. These companies often generate revenue via advertisements on their sites.

Digitization of the travel market

In recent times, it has become more and more common for consumers to book trips themselves, particularly via OTA’s. These online companies offer the comfort of booking from home and often entice consumers with package deals and price saving options. As a result, many travelers have turned away from traditional brick-and-mortar travel agencies in favor of online alternatives to book their travel. The global travel agency market size (brick-and-mortar and online) reached 315 billion U.S. dollars in 2020. Some of the leading travel companies in the online travel market are Booking Holdings and the Expedia Group. When looking at a ranking of the biggest online travel agencies (OTA's) by revenue worldwide, these two companies came in respective first and second place with revenues of 15.07 billion and 12.07 billion U.S. dollars in 2019. Another online travel company that has grown exponentially over the past years is Airbnb. The company provides a vacation rental online marketplace that primarily offers homestays. In 2019, the company value of Airbnb reached 35 billion U.S. dollars.

Impact of the coronavirus pandemic on the online travel market

One factor that is predicted to effect the online travel market in the future is the coronavirus (COVID-19) pandemic. As countries implemented travel restrictions to reduce the spread of the disease, national and international tourism came to a drastic halt. It was estimated that the global revenue of the travel and tourism industry would drop by 17 percent in 2020. Meanwhile, companies in the online travel industry also felt the negative effects of the Pandemic. In 2020, global Airbnb bookings declined as did the number of active Airbnb properties in selected countries. Additionally, short-term rental bookings on Expedia, Booking, and Airbnb also declined over the previous year.

Key figures

The most important key figures provide you with a compact summary of the topic of "Online travel market " and take you straight to the corresponding statistics.

Leading companies

Revenue of key players

Interesting statistics

In the following 4 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Online travel market ".

Online travel market worldwide

Dossier on the topic

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Online travel market - statistics & facts

Most industries have become increasingly digitized over the last decade. The travel industry in particular has gone to great lengths to cultivate its online presence. The online travel industry is primarily made up of travel e-commerce sites and review sites. Travel e-commerce sites specialize in the selling of travel products such as flights, accommodation, and rental cars. These can be either purchased directly through a travel company’s website, or through an online travel agency (OTA). Meanwhile, travel review websites, such as TripAdvisor, allow travelers to post their experience of hotels, restaurants and other hospitality purchases online. These companies often generate revenue via advertisements on their sites.

Digitization of the travel market

In recent times, it has become more and more common for consumers to book trips themselves, particularly via OTA’s. These online companies offer the comfort of booking from home and often entice consumers with package deals and price saving options. As a result, many travelers have turned away from traditional brick-and-mortar travel agencies in favor of online alternatives to book their travel. The global travel agency market size (brick-and-mortar and online) reached 315 billion U.S. dollars in 2020. Some of the leading travel companies in the online travel market are Booking Holdings and the Expedia Group. When looking at a ranking of the biggest online travel agencies (OTA's) by revenue worldwide, these two companies came in respective first and second place with revenues of 15.07 billion and 12.07 billion U.S. dollars in 2019. Another online travel company that has grown exponentially over the past years is Airbnb. The company provides a vacation rental online marketplace that primarily offers homestays. In 2019, the company value of Airbnb reached 35 billion U.S. dollars.

Impact of the coronavirus pandemic on the online travel market

One factor that is predicted to effect the online travel market in the future is the coronavirus (COVID-19) pandemic. As countries implemented travel restrictions to reduce the spread of the disease, national and international tourism came to a drastic halt. It was estimated that the global revenue of the travel and tourism industry would drop by 17 percent in 2020. Meanwhile, companies in the online travel industry also felt the negative effects of the Pandemic. In 2020, global Airbnb bookings declined as did the number of active Airbnb properties in selected countries. Additionally, short-term rental bookings on Expedia, Booking, and Airbnb also declined over the previous year.

Interesting statistics

In the following 4 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Online travel market ".

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