It took less than 30 years for the online travel market to become a multibillion-dollar industry and completely revolutionize the way we plan, book, and experience travel. A revolution that is far to be over, as shown by the recent implementation of
. That said, even though the internet and social media now influence all aspects of a trip, it is worth considering that different tourism markets – and countries – do not rely in the same way on online channels.
How big is the online travel market?
The
online travel market size worldwide was estimated at 600 billion U.S. dollars in 2023 and is expected to grow steadily in the following years. Looking at the
sales distribution in the global travel and tourism sector gives a clear idea of the pivotal role played by the online segment, generating roughly two-thirds of the market’s revenue that year. Not all industries, however, rely so heavily on online sales. Data on the
sales channels in the global cruise market reveal that offline transactions accounted for over three-quarters of the total sales value in 2023, showing that online companies still have much room for growth in that industry. This is because often travelers prefer to speak with an agent rather than buying a cruise trip online by themselves, as the booking process could be more complex due to the variety of options available.
What are the leading online travel agencies (OTAs)?
OTAs record the highest
market cap of online travel companies worldwide. In 2023,
global revenue of Booking Holdings – which owns brands like Booking.com, Priceline, and Kayak – exceeded 21 billion U.S. dollars, the highest figure reported by an OTA to date. That year,
global revenue of Expedia Group – parent company of brands like Expedia, Hotels.com, and Vrbo – amounted to nearly 13 billion U.S. dollars. Meanwhile, looking at the
marketing to revenue ratio of online travel agencies worldwide offers another perspective to analyze the leading market players, as it indicates how much companies depend on marketing to generate sales. In that respect, Airbnb reported a much lower figure than its biggest competitors.
What travel products do consumers book online?
According to Statista Consumer Insights Global survey, while hotels were the most common
travel products booked online in the United States in 2023, train tickets for long-distance trips ranked first among
travel product online bookings in India. This shows that regional differences are paramount to the online travel market. In this sense, the popularity of brands also changes significantly based on the geographical context. In 2023, Booking.com was by far the
preferred brand for hotel online bookings in Germany, but was dwarfed by Ctrip in China, with seven in ten
Chinese consumers booking online a hotel via the latter brand.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
