PORTLAND, OREGON and PUNE, INDIA – A new report published by Allied Market Research , titled, “Online Travel Market by Mode of Booking (Online Travel Agencies and Direct Travel Suppliers), Types of Platform (Mobile and Desktop), Service Types (Transportation, Travel Accommodation, and Vacation Packages), and Age Group (22-31, 32-43, 44-56, and >56): Global Opportunity Analysis and Industry Forecast, 2014-2022” , projects that the global online travel market is estimated to reach $1,091 billion by 2022. Asia-Pacific is expected to witness the highest growth during the forecast period. Direct travel suppliers, such as hotels, airlines and car rental companies, which offer booking facilities on their websites, dominate the market, whereas Online Travel Agencies (OTAs) would witness higher growth over the next 5 – 6 years.
Growth of the online travel market is driven by the increase in internet penetration, rise in disposable income of people in emerging markets, and ease of comparing a variety of travel options online. Market players are introducing innovative travel and vacation package deals to assist travelers’ in making sound travel decisions as per their spending capability, such as affordable packages for international destination, discounts on car rentals and cash back on international flights.
Direct travel suppliers segment […]