Travel Arrangement And Reservation Services: Global Strategic Business Report

Global Travel Arrangement and Reservation Services Market to Reach $579.5 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Travel Arrangement and Reservation Services estimated at US$459.9 Billion in the year 2020, is projected to reach a revised size of US$579.5 Billion by 2027, growing at a CAGR of 3.4% over the analysis period 2020-2027. Travel Agencies, one of the segments analyzed in the report, is projected to record a 3.5% CAGR and reach US$187.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Tour Operators segment is readjusted to a revised 4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $132.8 Billion, While China is Forecast to Grow at 5.5% CAGR

The Travel Arrangement and Reservation Services market in the U.S. is estimated at US$132.8 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$98 Billion by the year 2027 trailing a CAGR of 5.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.1% and 2.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$76.1 Billion by the year 2027.

Convention And Visitors Bureaus Segment to Record 3% CAGR

In the global Convention And Visitors Bureaus segment, USA, Canada, Japan, China and Europe will drive the 3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$48.5 Billion in the year 2020 will reach a projected size of US$59.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 3.2% CAGR through the analysis period.

Select Competitors (Total 41 Featured) -

• American Express Company
• BCD Travel
• Carlson Wagonlit Travel (CWT)
• Expedia, Inc.
• Priceline.Com Incorporated

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