Global online bookings growing 2x as fast as overall market

Published August 2019 Analyst: Phocuswright Research

 

Global online bookings growing 2x as fast as overall market

Phocuswright's recent travel research report Global Online Travel Overview 2019 provides and compares total and online travel gross bookings for six regions: U.S./Canada, Europe, Eastern Europe, Asia Pacific (APAC), Middle East and Latin America (LATAM). The market sizing and analysis presented here is sourced in part from several Phocuswright publications and data products:

The global travel industry performed better than most other economic sectors in 2018, beating GDP gains in most markets. According to Phocuswright's latest travel research report, Global Online Travel Overview 2019, total travel bookings increased a projected 7.3% to US$1.4 trillion. Critical to global travel companies, online travel bookings are growing twice as fast as the overall market.

Phocuswright Chart: Global Total Travel Market Share by Region, 2018 and 2020
(Click image to view a larger version.)

Here are seven key developments and trends from the Phocuswright report:

  1. Online bookings growing twice as fast as overall market
  2. APAC is now the world's largest regional travel market
  3. Online share of total bookings approaches milestone
  4. APAC to overtake U.S. online
  5. Suppliers lead online, but OTAs rule hotel segment
  6. Top travel markets remain unchanged (U.S., China, Japan, Germany, and U.K.)
  7. APAC widens its lead in mobile

This in-depth Phocuswright study includes the following analysis and data:

  • Size of the global travel market, with regional comparisons and breakdowns
  • An overview of online travel market growth, plus a look at developed vs. emerging economies
  • The OTA distribution landscape
  • Growth of mobile
  • Country market highlights and trends
  • State of the segments

Global Online Travel Overview 2019 is available for purchase here. (Free for subscribers.)

If you subscribe to Phocuswright Open Access, your entire company can access this report as well as the full Phocuswright research library. Learn more about the subscription benefits (including discounted Phocuswright Conference tickets) here.