Dublin, June 02, 2021 (GLOBE NEWSWIRE) – The “Global online travel market 2021” the report was added to ResearchAndMarkets.com offer.
The report “Global online travel market 2021”, details the impact of the coronavirus pandemic on the global digital travel market and provides information on possible future developments in the industry.
The health crisis has deeply affected digital travel sales, but the future looks brighter
Deeply affected by restrictions imposed due to the spread of the coronavirus pandemic, the global online travel industry has seen a significant drop in sales. For example, in the United States, the value of online travel sales in 2020 was only half of the figure forecast for 2020 just before the start of the COVID-19 pandemic.
The gross value of bookings from online travel agencies in the country has also declined significantly. Nonetheless, a recovery is expected in the near future given the easing of restrictions. In March 2021, travelers around the world planned to spend more on their travel in the next 12 months, and the use of travel-related mobile apps could even be higher than before the health crisis, according to the reports. conclusions of the report.
In addition, in Asia Pacific, one of the fastest growing regions in travel, despite the negative influence of COVID-19, overall digital travel spending per capita is expected to increase in several economies, including Hong Kong, China, Taiwan, Japan and South Korea by 2025.
The world’s leading online travel agencies and the impact of COVID-19
In 2021, most of the world’s major online travel agencies were able to maintain their market position, including Booking.com, which remained the world’s leading travel category website. Tripadvisor and Airbnb followed Booking.com. However, for some OTAs including the Expedia group, the pandemic has resulted in a drop in the ranking, as detailed in this publication.
Technology-driven solutions are a big factor in the traveler experience in 2021
Due to the economic disruption due to the COVID-19 pandemic, travelers around the world have become increasingly interested in the Buy Now Pay Later payment method. According to a 2020 international survey cited by the analyst in the new report, a double-digit share of respondents said the availability of a BNPL option was an important factor when booking a travel-related service. With this, technology-driven solutions can support the online travel industry in the recovery process.
Cover of the report
- This report covers the online travel market. It takes into account a broad definition of the travel segment, including transportation, accommodation, tour packages and others. The report focuses on unmanaged leisure travel and online business travel. Definitions used by the original sources cited in this report may vary.
- Besides sales figures, penetration and rankings, this report also reveals important market trends affecting the online travel market such as increase in mobile bookings and use of innovative technologies.
- The following global regions are covered in this report: Asia Pacific, Europe, Latin America, Middle East and North America.
Structure of the report
- The Global Chapter opens the report, including an overview of global market developments and trends.
- The remainder of the report is divided by regions. Regions are presented in descending order of total online travel sales.
- In each region, regional information is included first, when available, and countries are also listed in descending order of online travel sales. Where no comparable sales figures were available, other related criteria such as total e-commerce sales, online shoppers and internet penetration were applied.
- In the country sections, the following information is covered, where available: online travel sales, the share of online shoppers booking travel services online and the rank of this category among other product categories of e-commerce, online share of total travel sales and share of travel in total e-commerce sales, platforms and channels used by travelers to book travel services, total sales and shares of online travel agencies . Not all types of information mentioned are provided for each country, due to the varying availability of data.
Main topics covered:
1. Management summary
- Online Travel Market Overview and Trends, December 2020
- Top 10 travel and tourism websites, incl. Total web visits, in millions, average visit duration, in minutes, bounce rate, in%, and top 5 countries by visit share, in%, April 2021
- Travel apps used, incl. Airlines, hotels, trains and travel Avent Apps, in% of travelers, February 2021
- Top 10 hosting websites, incl. Web visits, in millions, average visit duration, in minutes, bounce rate, in%, and top 5 countries by visit share, in%, February 2021
- Share of travelers who plan to spend more than normal for a trip in 2021 because they were unable to travel in 2020, in%, January 2021
- Share of travelers who would revert to cash payments when the risk of COVID-19 is reduced and the top 4 reasons to revert to cash payments, in%, 2020
- Share of travelers who consider cardless payment methods / e-wallets to be the most important factor when booking a travel-related service,%, 2020
- Share of travelers who consider the Buy Now and Pay Later option to be important when booking a travel-related service, in%, 2020
- Share of travelers who paid contactlessly or via mobile while traveling, in%, 2020
- Share of travelers who see contactless mobile payments as a driver of trust, in%, September 2020 and February 2021
- Share of travelers who save credit card points to go on vacation once feel comfortable traveling, January 2021
- Share of travelers likely to use more travel credits / points to pay for travel in 2021 compared to before the COVID-19 pandemic, January 2021
- Share of travelers who abandoned travel-related purchases if the contactless payment option was not available, in%, 2020
- Top payment methods for business travel by employees,% of business travel managers, 2020
- Main payment methods for business travel,% of business travelers, 2020
- Top 10 Air Travel Websites, By Website Ranking, incl. Web visits, in millions, average visit duration, in minutes, bounce rate, in%, and top 5 countries by visit share, in%, February 2021
- Main investment priorities for airlines to be implemented by 2023, in% of passenger carriers, October 2020
- Main investment priorities for airports to be implemented by 2023, in% of passenger carriers, October 2020
- Breakdown of top airline priorities for the introduction of contactless self-service by 2023, incl. Mobile contactless payment, as a% of airline IT managers, October 2020
- Automated border control and boarding services at airports planned for 2023, in% of passenger carriers, October 2020
- Share of adult travelers who were excited about the potential of technology to further personalize their travel experiences in the future, by country,%, July 2020
- Share of adult travelers who expected to participate in more virtual / online experiences during their travels, by country,%, July 2020
- Share of adult travelers who would be more comfortable going to an unknown destination if they could discover it virtually, by country, in%, July 2020
- Share of adult travelers who have chosen technology would be important to minimize human interactions while traveling, by country, in%, July 2020
3. North America
3.1. United States
4.4. South Korea
4.7. New Zealand
6. Latin America
7. Middle East and Africa
7.2. Saudi Arabia
- American Express
- Apple Pay
- Hunt the sapphire
- Expedia Group
- Come on Mmt
- Google pay
- Hilton hotels
- Marriott Hotels
- Pay Pal
- Thomas cook
- Wells fargo
For more information on this report, visit https://www.researchandmarkets.com/r/6udtbg