Online Travel Agency Market – By Service Type, Platform and Region, Opportunities and Strategies – Global Forecast to 2023

The Business Research Company’s Online Travel Agencies Market Report – Opportunities and Strategies – Global Forecast to 2030

LONDON, GREATER LONDON, UK, April 26th 2021 /EINPresswire.com/ – Our reports have been revised regarding market size, forecasts and strategies for 2021 after the effects of COVID-19: https://www.thebusinessresearchcompany.com/global-market-reports

Growing initiatives by governments of different countries to promote tourism and build strong tourism infrastructure to increase tourism industry revenue is a major trend driving the growth of tourism Online travel agency market. According to the report published in July 2019 by the Government of India, the Ministry of Tourism’s Press Information Bureau, the Ministry of Tourism provides financial support through the National Mission on Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive (PRASHAD) and Swadesh Darshan programs to various state and union territories for the development of the tourist infrastructure in the country. Therefore, the government initiatives and steps to promote tourism and develop the tourism infrastructure should act as a central trend in the OTA market in the forecast period.

Other Trends in the online travel industry include mergers and acquisitions. In January 2020, Despegar, a Latin America-based online travel company, acquired Best Day Travel Group for USD 136 million. Best Day Travel Group, a Mexico-based online travel agency. With this acquisition Despegar can increase sales by 25% and further strengthen its market position as the leading travel agency in Mexico and Latin America.

The main players in the online travel agency market are Booking.com, Expedia Inc., Ctrip, TripAdvisor, Trivago, eDreams Odigeo, Despegar, MakeMyTrip, Lastminute and On the Beach.

Read more about Global Online Travel Agencies Market report:
https://www.thebusinessresearchcompany.com/report/online-travel-agent-market

The global online travel agency market is forecast to grow from $ 432.14 billion in 2020 to $ 561.36 billion in 2021, with an average annual growth rate (CAGR) of 29.9%. The growth is mainly due to companies resuming business and adjusting to the new normal while recovering from the effects of COVID-19 that previously resulted in restrictive containment measures, social distancing, remote working and recruitment commercial activities resulted in operational challenges. The online travel agency market size is projected to reach USD 833.52 billion in 2025 with an annual growth rate of 10%.

TBRC’s Online Travel Agency market analysis report segmented by Service Type into Vacation Packages, Transportation, Accommodation, by Platform into Mobile / Tablet Based, Desktop Based, and by Category into Hotel Bookings, Tickets, etc.

Online Travel Agency Market – By Service Type (Vacation Packages, Travel, Accommodation), By Platform (mobile / tablet-based, desktop-based), and By Region, Opportunities, and Strategies – Global Forecast to 2023 is one of a series of new reports from Das Business Research Company, which provides an overview of Online Travel Agency Market, Online Travel Agency Market Size and Growth for the whole Online Travel Agency market, segments and regions, Online Travel Agency market trends, Online Travel Agency market drivers -Travel Agents, Restrictions and Leading Competitors forecasts revenue, profiles and market share.

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April 26, 2021 11:14 GMT


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