Will The Online Travel Industry Recover? | Getentrepreneurial.com


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 known that travelers are keen to use social media platforms, mobile application and websites to explore their destinations and technology is an important factor in every sector.

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.

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