Global Online Travel, Accommodation Booking, and Airline Booking Market 2022

Description

"Use of online intermediaries for travel booking accelerated during the pandemic, with online accommodation market witnessing a recovery in 2022": new yStats.com report.

The shift from traditional flight booking channels to more modern booking channels is giving rise to digital platforms, with OTAs witnessing high growth opportunities

The global travel market is recovering from the negative effects of the pandemic, according to the recent data cited in the yStats.com report. This provides a growth momentum to the online travel-booking channel, which is poised to expand substantially in 2022 compared to the past year. For instance, the USA will see a double-digit growth of the gross airline bookings coming from online channels after 2022. For the Asia-Pacific market as well, the use of online platforms for booking travel related services is expected to rise in the coming years, with double-digit CAGR predicted for countries including Indonesia, Singapore and Thailand, as mentioned in the latest yStats.com report. Furthermore, airline websites, apps and OTAs are increasingly used by travelers to purchase flight tickets, with over one-third of travelers giving importance to speed of apps during the booking process. Additionally, over three quarters of travel app users consider the offered functions such as trip status checks useful for their travels. Even though the mobile travel bookings and travel app use is increasing, desktop is still used by over half of travel bookers worldwide, as revealed by the new yStats.com report.

Accommodation booking via website gains popularity

According to a survey cited in the yStats.com report, nearly one-half of respondents preferred to book their travel needs, including hotels, flights, car hire, and extras, via one website as of 2022. Furthermore, in the U.S., more than one-half of respondents made accommodation bookings via hotel websites, and in France, holiday residences were preferably booked via websites in 2021. When asked how French respondents booked their last holiday accommodation, more than one-half revealed they conducted their booking via website from computer or tablet.

Product Code: 1593

1. Management Summary

2. Global Developments

Travel Market Overview and Trends, July 2022
International Departures, in % of 2019 Levels, 2022e-2025f
Online Travel Agencies Gross Bookings, in USD billion, 2018-2020 & 2025f
Share of Respondents Who Prefer to Book Their Travel Needs via One Website, in %, 2022
Breakdown of Internet Traffic Source in Travel & Hospitality vs All Industries, by Devices, in %, 2021
Breakdown of Online Travel Sales, by Desktop and Mobile, in %, 2020 & 2021
Cart Abandonment Rate in Online Travel to Overall E-Commerce, in %, 2021
Reasons Why Consumers Abandon Their Carts During Travel Booking, in % of Consumers Who Abandoned Their Carts, 2021
Online Travel Cart Abandonment Rate, by Desktop and Mobile, in %, 2021
Cart Abandonment Rate in the "Airlines" Category Compared to Selected Industries, in %, 2021
Cart Abandonment Rates for Online Travel Websites, incl. "Airline", in % of Online Travel Website Users, 2021
Revenue of the Top 5 Travel Websites, in USD billion, 2021
Top 10 Most Downloaded Online Travel Agency Apps, by Downloads, in millions, 2021
Online Booking App Users, in billions, 2017-2021
Hotel and Resort Booking Revenues, in USD trillion, 2017-2022f
Breakdown of Vacation Rental Bookings by OTA and Direct Booking, in %, 2021 & 2022f
Top 5 Accommodation and Hotel Websites, by Website Rank, incl. Category, Website Visits, in millions, Average Visit Duration, in minutes, Bounce Rate, in %, and Top 5 Countries by Share of Visits, in %, June 2022
Market Share of Online Travel Agency Booking Applications, in %, 2021
Online Air Travel Revenue, in USD billion, 2020 & 2021
Breakdown of Air Travel Bookings by Device, in %, 2021
Share of Families Who Find Comparing Offers Difficult and Time Consuming When Searching and Booking Flights, in %, 2021
Share of Families Who Do Not Enjoy Booking Trips (incl. Flights), in %, 2021
Top 20 Air Travel Websites, by Website Rank, incl. Website Visits, in millions, Average Visit Duration, in minutes, Bounce Rate, in %, and Top 5 Countries by Share of Visits, in %, June 2022

3. North America

3.1. USA

4. Asia-Pacific

4.1. Regional
4.2. China
4.3. Japan
4.4. India
4.5. Australia
4.6. Indonesia
4.7. Thailand
4.8. Singapore
4.9. Malaysia
4.10. Vietnam
4.11. Philippines

5. Europe

5.1. Regional
5.2. UK
5.3. Germany
5.4. France
5.5. Italy
5.6. Spain
5.7. Netherlands
5.8. Russia
5.9. Poland

6. Latin America

6.1. Regional
6.2. Brazil
6.3. Mexico
6.4. Argentina

7. Middle East & Africa

7.1. Regional
7.2. UAE
7.3. Saudi Arabia
7.4. South Africa