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Key Trends in Online Travel, 2021 Update - Analysing Key Market Trends, Opportunities, Challenges and Disruptor Technologies

Key Trends in Online Travel, 2021 Update - Analysing Key Market Trends, Opportunities, Challenges and Disruptor Technologies

  • November 2021
  • 42 pages
  • ID: 6188279
  • Format: PDF
  • GlobalData


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Key Trends in Online Travel, 2021 Update - Analysing Key Market Trends, Opportunities, Challenges and Disruptor Technologies

This key trends reports focuses on the global car rental industry. This report will provide comprehensive data insights on and analysis of key market trends, disruptors in the sector and some of the strategies developed by leading and disruptive companies during the COVID-19 pandemic.

Key Highlights
- Globally, travelers are increasingly online and more mobile savvy than ever before. In tandem, online travel intermediaries’ (OTAs, tour operators and other providers) market value experienced rapid growth prior to the COVID-19 pandemic (CAGR 2016-19: 7.6%). In 2019, global market value reached $592.3 billion, a 2.3% increase from the previous year.
- Companies within the travel industry have faced and continue to face unprecedented challenges and uncertainty due to the COVID-19 pandemic. Travel and tourism is among the most affected sectors with a massive fall in travel demand amid international and domestic travel restrictions including many borders fully closed to contain the virus. Resultantly, online travel intermediaries’ market value declined by 60.1% to $236.7 billion in 2020.
- What travelers require is constantly evolving. As a a result, online travel intermediaries will have to change and adapt to meet future traveler demands. Within the online travel industry, there has been an increasing focus on personalization by online market players as loyalty to a particular brand being replaced by traveler’s loyalty to their own preferences. In addition, social media has become a strategic channel for marketing and customer service. Perhaps the demarking feature of online travel is the integration and use of the latest technologies, to the extent that some travel brands such as Airbnb and Trip.com refer to themselves primarily as technology companies.

- Tourism Insights Report "Key Trends in Online Travel", looks at the key trends & issues within the online travel space, as well as the opportunities and threats. It also offers an insight into key destinations, traveler groups, and into the strategies of leading companies, as well as disruptors.

Reasons to Buy
- Gain an insight into the online travel industry’s leading players.
- Understand the key traveler types online travel companies can look to attract
- Look at the impact of the COVID-19 pandemic on this industry
- Gain a detailed understanding of the key trends, isseus and chellenges facing online travel operators

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