Global Online Travel, Accommodation Booking, and Airline Booking Market 2022

Global Travel, Accommodation Booking, and Airline Booking Market 2022

Use of online intermediaries for travel booking accelerated during the pandemic, with online accommodation market witnessing a recovery in 2022: new yStats.com report.

The shift from traditional flight booking channels to more modern booking channels is giving rise to digital platforms, with OTAs witnessing high growth opportunities

The global travel market is recovering from the negative effects of the pandemic, according to the recent data cited in the yStats.com report. This provides a growth momentum to the online travel-booking channel, which is poised to expand substantially in 2022 compared to the past year. For instance, the USA will see a double-digit growth of the gross airline bookings coming from online channels after 2022. For the Asia-Pacific market as well, the use of online platforms for booking travel related services is expected to rise in the coming years, with double-digit CAGR predicted for countries including Indonesia, Singapore and Thailand, as mentioned in the latest yStats.com report. Furthermore, airline websites, apps and OTAs are increasingly used by travelers to purchase flight tickets, with over one-third of travelers giving importance to speed of apps during the booking process. Additionally, over three quarters of travel app users consider the offered functions such as trip status checks useful for their travels. Even though the mobile travel bookings and travel app use is increasing, desktop is still used by over half of travel bookers worldwide, as revealed by the new yStats.com report.

Accommodation booking via website gains popularity

According to a survey cited in the yStats.com report, nearly one-half of respondents preferred to book their travel needs, including hotels, flights, car hire, and extras, via one website as of 2022. Furthermore, in the U.S., more than one-half of respondents made accommodation bookings via hotel websites, and in France, holiday residences were preferably booked via websites in 2021. When asked how French respondents booked their last holiday accommodation, more than one-half revealed they conducted their booking via website from computer or tablet.