Online Travel Agent Global Market Report 2023

The global online travel agent market will grow from $761.9 billion in 2022 to $865.5 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The online travel agent market is expected to grow to $1,060.01 billion in 2027 at a CAGR of 5.2%.

The online travel agent market consists of revenues earned by entities that are engaged in selling travel services through online channels. Travel agents are engaged in the sales of travel services such as flights, buses, vacation packages, hotels, and rental cars via online networks. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Online travel agents or agencies are individuals or companies with websites that allow consumers to book various travel-related services via the internet. Online travel agents invest in marketing and advertising to attract potential international customers.

Asia Pacific was the largest region in the online travel agent market in 2022. Western Europe was the second largest region in the online travel agent market. The regions covered in the online travel agent market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of services in online travel agents are vacation packages, transportation, and accommodation. A package tour, package vacation, or package holiday is a combination of transportation and lodging advertised and offered by a tour operator. The different platforms include mobile/tablets based, desktop based and are available in various categories such as hotel bookings, tickets, and others.

The surge in smartphone users along with growing internet penetration is anticipated to boost the online tourism industry and the business for travel agents during the period. Increasing penetration of the internet and growth in the number of smartphone users is contributing to the consumer shift towards online channels for travel ticket and hotel bookings. For instance, according to a special report on Digital 2020 published by We Are Social in January 2020, the number of internet users in 2020 augmented to 4.54 billion across the globe, recording a growth of 7% or 298 million new users compared to January 2019. Furthermore, according to Zippia, as of 2022, there are 6.65 billion smartphone users globally, and this number is expected to grow to 7.34 billion by 2025. Consequently, the rise in the number of smartphone users coupled with increasing internet penetration is forecast to propel the revenues for the online travel agent market in the years to come ahead.

Rising possibilities of uncertain events such as the COVID-19 outbreak or natural calamities is projected to limit the growth of the tourism industry and online travel agent. According to the UNWTO estimates, global international tourist arrivals in 2020 are predicted to fall by 20% to 30% compared to the previous year, which translates into a loss of $30-50 billion in travel spending by international visitors. Thus, the online travel agent market is to record a decline in 2020 owing to the impact of COVID-19 across the globe. Moreover, according to Travel Daily Media news, Typhoon Mangkhut jolts Hong Kong and China leaving the tourism, aviation, and transportation industry at standstill. Therefore, the possibility of natural events is probably restraining the growth of the tourism industry including the online travel agent market during the coming years.

Growing initiatives by the government of various countries to promote tourism and built strong tourism infrastructure to boost the revenues generated from the tourism industry is a major trend propelling the growth of the online travel agent market during the period. For instance, according to The Budget 2022, the Government of India allocated an additional amount of INR 2400 crores ($307.12 million) to the Ministry of Tourism. This budget is 18.42% higher than 2021-22, and it will be used by the Ministry of Tourism for developing tourism infrastructure, marketing and promotion, and capacity building. Therefore, the government initiatives and steps to promote tourism and develop tourism infrastructure are to act as a key trend in the online travel agent market over the period.

In January 2020, Despegar, a Latin America-based online travel company acquired Best Day Travel Group for USD 136 million. This acquisition allows Despegar to increase revenues by 25%, further strengthening its market position as the leading travel agency both in Mexico and Latin America. Best Day Travel Group is a Mexico-based online travel agency.

The countries covered in the online travel agent market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The online travel agent market research report is one of a series of new reports that provides online travel agent market statistics, including online travel agent industry global market size, regional shares, competitors with an online travel agent market share, detailed online travel agent market segments, market trends and opportunities, and any further data you may need to thrive in the online travel agent industry. This online travel agent market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Major players in the online travel agent market are Booking.com, Expedia Inc., Ctrip, TripAdvisor, Trivago, eDreams Odigeo, Despegar, MakeMyTrip, Lastminute, and On the Beach, Alibaba Group Holding Limited, Hostelworld Group, Hotel Urbano Travel and Tourism SA, Fareportal Inc., Trivago GmbH, ThomasCook Group, Priceline Group Inc., HRS, Agoda, Airbnb Inc., and Hotel.de.

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Frequently Asked Questions about the Global Online Travel Agent Market

What is the estimated value of the Global Online Travel Agent Market?

The Global Online Travel Agent Market was estimated to be valued at $865.5 billion in 2023.

What is the growth rate of the Global Online Travel Agent Market?

The growth rate of the Global Online Travel Agent Market is 5.2%, with an estimated value of $1060.01 billion by 2027.

What is the forecasted size of the Global Online Travel Agent Market?

The Global Online Travel Agent Market is estimated to be worth $1060.01 billion by 2027.

Who are the key companies in the Global Online Travel Agent Market?

Key companies in the Global Online Travel Agent Market include Booking.com, Expedia Inc., Ctrip, TripAdvisor, Trivago, eDreams Odigeo, Despegar, MakeMyTrip and and On the Beach.

Report Attribute	Details
No. of Pages	175
Published	February 2023
Forecast Period	2023 - 2027
Estimated Market Value ( USD ) in 2023	$ 865.5 billion
Forecasted Market Value ( USD ) by 2027	$ 1060.01 billion
Compound Annual Growth Rate	5.2%
Regions Covered	Global

1. Executive Summary

2. Online Travel Agent Market Characteristics

3. Online Travel Agent Market Trends And Strategies

4. Online Travel Agent Market - Macro Economic Scenario
4.1 COVID-19 Impact On Online Travel Agent Market
4.2 Ukraine-Russia War Impact On Online Travel Agent Market
4.3 Impact Of High Inflation On Online Travel Agent Market

5. Online Travel Agent Market Size And Growth
5.1. Global Online Travel Agent Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Online Travel Agent Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Online Travel Agent Market Segmentation
6.1. Global Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Vacation Packages
Transportation
Accommodation

6.2. Global Online Travel Agent Market, Segmentation By Platform, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Mobile/Tablets Based
Desktop Based

6.3. Global Online Travel Agent Market, Segmentation By Category, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Hotel Bookings
Tickets
Other Categories

7. Online Travel Agent Market Regional And Country Analysis
7.1. Global Online Travel Agent Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Online Travel Agent Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific Online Travel Agent Market
8.1. Asia-Pacific Online Travel Agent Market Overview

Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

8.2. Asia-Pacific Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Online Travel Agent Market
9.1. China Online Travel Agent Market Overview
9.2. China Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Online Travel Agent Market
10.1. India Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Online Travel Agent Market
11.1. Japan Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Online Travel Agent Market
12.1. Australia Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Online Travel Agent Market
13.1. Indonesia Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Online Travel Agent Market
14.1. South Korea Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Online Travel Agent Market
15.1. Western Europe Online Travel Agent Market Overview
15.2. Western Europe Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Online Travel Agent Market
16.1. UK Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Online Travel Agent Market
17.1. Germany Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Online Travel Agent Market
18.1. France Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Online Travel Agent Market
19.1. Eastern Europe Online Travel Agent Market Overview
19.2. Eastern Europe Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Online Travel Agent Market
20.1. Russia Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Online Travel Agent Market
21.1. North America Online Travel Agent Market Overview
21.2. North America Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Online Travel Agent Market
22.1. USA Online Travel Agent Market Overview
22.2. USA Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Online Travel Agent Market
23.1. South America Online Travel Agent Market Overview
23.2. South America Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Online Travel Agent Market
24.1. Brazil Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Online Travel Agent Market
25.1. Middle East Online Travel Agent Market Overview
25.2. Middle East Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Online Travel Agent Market
26.1. Africa Online Travel Agent Market Overview
26.2. Africa Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Online Travel Agent Market Competitive Landscape And Company Profiles
27.1. Online Travel Agent Market Competitive Landscape
27.2. Online Travel Agent Market Company Profiles
27.2.1. Booking.com
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Expedia, Inc.
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Ctrip
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Triadvisor
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Trivago
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

28. Key Mergers And Acquisitions In The Online Travel Agent Market

29. Online Travel Agent Market Future Outlook and Potential Analysis

30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. About the Publisher
30.6. Copyright And Disclaimer

Executive Summary

Online Travel Agent Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on online travel agent market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Where is the largest and fastest growing market for online travel agent? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The online travel agent market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

Scope

Markets Covered

1) By Service Type: Vacation Packages; Transportation; Accommodation
2) By Platform: Mobile/Tablets Based; Desktop Based
3) By Category: Hotel Bookings; Tickets; Other Categories

Companies Mentioned: Booking.com; Expedia Inc.; Ctrip; TripAdvisor; Trivago

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery format: PDF, Word and Excel Data Dashboard.