Global Online Travel Market to Reach USD 1,377.2 Billion by 2033, Impelled by Exponentially Growing Travel and Tourism Industry

November 20, 2024

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According to the latest report by IMARC Group, titled “Online Travel Market Report by Service Type (Transportation, Travel Accommodation, Vacation Packages), Platform (Mobile, Desktop), Mode of Booking (Online Travel Agencies (OTAs), Direct Travel Suppliers), Age Group (22-31 Years, 32-43 Years, 44-56 Years, Above 56 Years), and Region 2025-2033,” the global online travel market size reached USD 566.7 Billion in 2024. Online travel refers to a range of web-based solutions, such as travel-centric e-commerce and reviews websites, that provide consumers the ease to research, plan, and book travel products and services, such as hotel accommodations, flights, cars, tours, cruises, and activities online. Apart from this, they allow users to compare prices, offers, discounts, and user reviews of different services, provide comprehensive information about various destinations and attractions, and reduce the response time between organizations and customers through rapid online data transmission. Online travel enables market insights and tools to target potential travelers in different locations, secure and process bookings, communicate with guests, and manage reviews. As a result, these solutions are extensively employed by hotels, resorts, and tourist attraction places to improve visibility and engagement and enhance their overall sales and profitability.

Global Online Travel Market Trends:

The global online travel market is primarily driven by the steadfast expansion of the travel and tourism industry on account of decreasing rates of airline fares and favorable governmental policies. Moreover, the shifting consumer preference for online travel services influenced by information and communication technologies (ICTs) that enable quick and easy flight and hotel bookings, increase customer’s trust in online payment, and provide multiple options for comparison is propelling the market growth. In addition to this, the proliferation of online travel agencies (OTAs) offering market insights and tools for targeting tourists, securing and processing bookings, communicating with guests, and managing reviews is creating a positive outlook for the market. Furthermore, the launch of various mobile-based websites and apps by leading market players, combined with the adoption of aggressive promotional activities through online and television (TV) advertising, billboards and sponsorships, and social media marketing channels, is impelling the market growth. Other factors, such as inflating disposable incomes of individuals, the escalating penetration of smart devices, easy access to high-speed internet connectivity, the rising popularity of solo travel, and an increasing number of business travelers, are presenting remunerative growth opportunities for the market. Looking forward, the market value is projected to reach USD 1,377.2 Billion by 2033, expanding at a CAGR of 9.85% during 2025-2033.

Market Summary:

On the basis of the service type, the market is segregated into transportation, travel accommodation, and vacation packages.
Based on the platform, the market has been bifurcated into mobile and desktop.
On the basis of the mode of booking, the market has been divided into online travel agencies (OTAs) and direct travel suppliers.
Based on age group, the market is categorized into 22-31 years, 32-43 years, 44-56 years, and above 56 years.
Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being Expedia Group Inc., Fareportal Inc., Hostelworld Group plc, HRS, Hurb, MakeMyTrip Pvt. Ltd., priceline.com LLC (Booking Holdings Inc.), Thomas Cook India Ltd. (Fairfax Financial Holdings Limited), Tripadvisor Inc. and Yatra.com.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Service Type, Platform, Mode of Booking, Age Group, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Expedia Group Inc., Fareportal Inc., Hostelworld Group plc, HRS, Hurb, MakeMyTrip Pvt. Ltd., priceline.com LLC (Booking Holdings Inc.), Thomas Cook India Ltd. (Fairfax Financial Holdings Limited), Tripadvisor Inc. and Yatra.com
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Online Travel Market to Reach USD 1,377.2 Billion by 2033, Impelled by Exponentially Growing Travel and Tourism Industry

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