Travel Activities Market to Reach $183 Billion by 2020
- July 2017
- Alice Jong
Travel activities, the aggregate of traveler spend on tours, activities, attractions and events, reached US$135 billion globally in 2016. It accounts for 10% of global travel revenue and outsizes rail, car rental and cruise.
Despite being the third-largest travel segment, activities have remained a dark spot in the global travel, tourism and hospitality industry. However, the sector is going through extraordinary change. A vibrant reservation technology startup landscape is laying a critical foundation for sector advancement, and suppliers are finally adapting to the digital age. A host of startups focused on reselling activities have launched and online travel's biggest brands – including Expedia, Airbnb, and TripAdvisor – have moved into this space. All are fueling astonishing sector growth and travel activities is positioned to reach $183 billion by 2020.
Get a detailed look at how this dynamic segment is growing up and where it's headed with Phocuswright's newest report, Tours & Activities Come of Age: The Global Travel Activities Marketplace 2014-2020. You will learn:
- The size and composition of the global travel activities marketplace, with regional segmentation and forecasts through 2020
- The state of online bookings, how its trending and where it's headed
- The outlook for online intermediaries' and suppliers' attitudes towards online distribution
- Trends on distribution, and challenges distributors face in bringing the sector online
- The state of technology adoption among suppliers and the hurdles ahead for reservation software providers
- Key players in the online travel activities market – who they are and what they're doing
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