A new report is now available on Research & Markets entitled “Global Online Travel Market: Trends and Opportunities (2016-2020)”.
The report analyses the potential opportunities and significant trends in the global online travel market. The reports forecasts the value of the global online travel market. It provides detailed analysis of leading players in the sector including Expedia Inc., The Priceline Group and Hostelworld on the basis of attributes such as business overview, recent developments, financials and strategies adopted by the market leaders in order to ensure growth, sustainability, etc.
The online travel industry originated in the 1970s in the United States market.
Today, from a regional perspective, Asia Pacific, Western Europe and the US market are seen to be similar in size and collectively accounting for 80% share of global online travel market in the year 2015. In the upcoming years, emerging markets are expected to outperform growth in advanced regions due to improving of socio-economic factors. In addition to this, emerging markets also have a high proportion of Millennial population.
The growth of the global online travel market is driven by growth in global tourism industry, rise in internet penetration and increasing mobile presence. Increasing internet penetration and rise in use of smartphones especially in emerging economies are providing impetus to online travel industry globally. However, presence of certain factors are also posing barriers to growth of the industry and the ability for new entrants to get a foothold. Some of these factors are the threat from alternative accommodation providers, regulation and compliance in the industry and the required high marketing expenditure for companies operating in the segment. Key trends prevailing in the industry includes organic expansion of core brands and increasing capital investment and supply in the hostel space.