Technology has made our life easier and more comfortable, and it has revolutionized the travel industry. Nowadays, travelers like to plan and book their trips online via a mobile app or website without human interaction.
It is estimated the online travel industry reached nearly $755 billion in 2019 at a compounded annual growth rate (CAGR) of 7.9 percent since 2015. Overall, the online travel booking accounted for 63 percent of the approximately $1.2 trillion the travel industry generates every year. Around 82 percent of travelers book online using a website or mobile app, and an appropriate 0.27 percent of the world’s online spending comes from the travel industry.