Dublin, June 02, 2021 (GLOBE NEWSWIRE) — The “Global Online Travel Market 2021” report has been added to ResearchAndMarkets.com’s offering.
The report “Global Online Travel Market 2021,” details the impact of the coronavirus pandemic on the digital travel market worldwide and provides insights into possible future industry developments.
The health crisis deeply affected digital travel sales, but the future looks more optimistic
Deeply affected by the restrictions imposed due to the spread of the coronavirus pandemic, the global online travel industry experienced a significant downfall in sales. For example, in the United States, online travel sales value in 2020 was only half of the figure forecasted for 2020 just before the onset of the COVID-19 pandemic.
The gross booking value of online travel agencies in the country also decreased substantially. Nevertheless, a recovery is expected in the near future given the easing of restrictions. As of March 2021, global travelers intended to spend more on trips in the next 12 months, and the usage of travel-related mobile apps may even be higher than prior to the health crisis, according to the findings of the report.
Furthermore, in Asia-Pacific, one of the fastest-growing regions in regard to travel, despite the negative influence of COVID-19, overall per capita digital travel expenditures are expected to rise in several economies, including Hong Kong, China, Taiwan, Japan, and South Korea by 2025.