Best Travel Agencies For Europe – The report contains statistics on the online travel market in Europe and is segmented by service type (transportation, travel accommodation, holiday packages and others), by type of bookings (online travel agencies, direct travel providers), by platform (desktop, mobile) and by country (UK , Germany, France, Italy and the rest of Europe). The report provides the market size and forecast value for the European online travel market in billion USD for the above segments.
The size of the European online travel market is estimated to reach $89.22 billion by 2024 and is expected to reach $131.94 billion by 2029, growing at a CAGR of 8.14% during the period. Forecast period (2024-2029).
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Online booking is growing faster than the overall market, with most of the growth coming from providers’ mobile platforms and OTAs. In Europe, the focus on tourism is considered one of the key pillars for job growth and inclusive growth. Social media platforms have emerged as a prominent marketing opportunity for online travel companies in recent years. With consumers using social media on a large scale, their preferences and interests are easily tracked, which helps travel companies target people who are likely to choose the experience. travel experience and those who can also afford travel packages. These factors provide online travel companies with deep and comprehensive insights into customer desires and behavior.
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With the emergence of the COVID-19 pandemic, the European online travel industry has seen demand decrease, especially in 2020. The spread of the coronavirus worldwide has led to a complete blockade and border closure in several countries. In addition, airline closures and the growing fear of contracting the coronavirus while traveling have kept people at home. All these factors adversely affect the market growth. However, the market rebounded in 2021 and grew at a significant pace from 2022 onwards.
This section covers the key market trends shaping the European online travel market according to our research experts:
In recent years, it has been observed that more and more consumers are switching from desktop computers to mobile devices for traveling and booking. Smartphone booking is attracting more attention in the market as smartphone penetration increases and customers are more accustomed to paying online. This industry has gone through a number of changes in the past decade due to advancements in technology. The online travel agency service model offers a variety of services through a single platform. The travel booking process has undergone a significant change from physical booking to web booking and now mobile platforms.
Germany, with its strong economy and high consumer confidence, is Europe’s largest tourism market. While the majority of Germans still book travel offline, online and mobile bookings are growing rapidly. The German online travel market is growing more slowly than in some other European countries due to the popularity of offline distribution and the leading role of tour operators. The growth of digital bookings, now driven by mobile phones, will continue to drive the overall market. Despite relatively low online travel penetration, German travelers have quickly adopted mobile technology. High smartphone penetration and the growing availability of 5G devices will drive the adoption of new types of customer interactions throughout the journey, including emerging features such as voice-based services and augmented reality.
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The report covers major international companies operating in the European online travel market. In terms of market share, a number of large companies currently dominate the market. However, with technological advances and product innovations, small and medium-sized companies are increasing their presence in the market. It has big players Booking.com, eDreams, Last Minute.com, Expedia and HRS
Online travel is travel booked online through a website or mobile app that specializes in travel arrangements, such as airline tickets, car rentals, and packages. The report provides a complete fundamental analysis of the market, including market size analysis and forecast, industry trends, growth drivers and leading players. In addition, the report provides qualitative and quantitative assessments through the analysis of data collected by industry analysts and market participants on key players in the industry’s value chain. The market is segmented by service type (transportation, travel accommodation, holiday packages, etc.), booking type (online travel agencies, direct travel service providers), platform platform (desktop, mobile) and country (UK, Germany, France, Italy) and the rest of Europe) . The report provides the market size and forecast value for the European online travel market in billion USD for the above segments.
The European online travel market size is expected to reach $89.22 billion by 2024 and grow at a CAGR of 8.14% to reach $131.94 billion by 2029.
In 2023, the size of the European online travel market is estimated to reach 82.5 billion USD. The report covers the historical size of the European online travel market for the years: 2020, 2021, 2022 and 2023. The report also forecasts the size of the European online travel market for the years: 2024, 2025, 2026, 2027, 2028 and 2029.
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Statistics on the market share, size and revenue growth rate of the European online travel market in 2024, generated by Mordor Intelligence™ Industry Reports. Europe Online Travel Analysis includes a market forecast to 2029 and a historical overview. Get this industry analysis template as a free PDF report download.
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