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Online Travel Bookings Statistics: With the advent of 2024, the travel industry has gone increasingly digital. There were already more and more people looking for flights, accommodations, short-term rentals, and entire trip packages through websites and apps.
This article will reflect the online travel bookings statistics and outline the market size of online bookings, who the largest players are, and key traveller trends from 2024.
(Reference: mize.tech)
(Reference: statista.com)
(Source: statista.com)
(Reference: statista.com)
Online travel agencies have become a necessity for flight bookings, accommodations, and experiences. Here is a list of top OTAs on the basis of their respective revenues, customer reach, and market power.
(Source: statista.com)
Online Travel Bookings Statistics: The trend for online travel booking in 2024 continues to be one of rapid growth, owing to convenience, mobile usage, and changing traveller preferences. Major OTAs such as Booking Holdings and Expedia dominate the global market, whereas Airbnb extends into new lodging segments. Sustainable travel and bleisure trends affect booking behaviour, and more and more travellers and corporations are seeking environmentally responsible options.
In general, online platforms are crucial for promoting hotel bookings, offering price transparency, and catering to a wide range of traveller needs, and in turn imply continued innovation and growth in the online travel industry.
The post-pandemic recovery hit the online travel and tourism market really hard and rebounded sharply by 2024, having an estimated value of US$600 billion. Travel bookings through the Internet accounted for 69.6% of all travel bookings-the 69.6% encompasses direct bookings through suppliers’ websites and bookings through online travel agencies (OTAs).
It was the global leader in 2024, generating revenues of US$24 billion and over 1.15 billion room nights, rental car days, and flight tickets. This was followed by the Expedia Group with nearly US$14 billion in revenue, with Airbnb being distinctive in its lodging model and in its relatively low marketing expenditures.
Travellers are increasingly using OTAs for research and booking, as 80% visit these sites within 45 days before making a purchase. Mobile app usage is on the rise, expected to rake in over US$2 billion worldwide in 2024, whereas desktops presently lead in bookings. Preferences for fully online booking stand at 80% among travellers, and almost half (48%) trust AI tools for planning their trips.
Online platforms are huge sales and marketing channels for accommodation providers. According to a study carried out in India, 79% of hoteliers responded that they have experienced an increase in bookings because of being listed on an OTA, and 80% of independent hotels in Europe gave similar statements. These platforms also create price transparency. For instance, between 2019 and 2021, online platforms helped French consumers save EUR 10.6 billion with competitive hotel pricing.
Interest in sustainable travel saw an unprecedented boost in 2024 from both consumers and corporations. Rail bookings rose to 6% of corporate trips, with 43% of travellers willing to pay a premium for eco-certified choice. 79%of corporate travel managers promoted greener options, while 72% supported carbon tracking tools. Millennials and Gen Z were especially environmentally conscious, with 82% committed to reducing their environmental footprint and 97% favouring companies that support either environmental or social initiatives.
Barry Elad is a passionate technology and finance journalist who loves diving deep into various technology and finance topics. He gathers important statistics and facts to help others understand the tech and finance world better. With a keen interest in software, Barry writes about its benefits and how it can improve our daily lives. In his spare time, he enjoys experimenting with healthy recipes, practicing yoga, meditating, or taking nature walks with his child. Barry’s goal is to make complex tech and finance information easy and accessible for everyone.
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