ASEAN Online Accommodation Market Size (2024 - 2029)

The ASEAN online accommodation market is experiencing significant growth, driven by an increasingly digitally engaged and aspirational middle class in Southeast Asia. Despite challenges posed by COVID-19, which led to cross-border travel restrictions, the sector saw a shift towards online bookings. The market's expansion is largely attributed to the rising interest in travel among tourists, particularly among younger and middle-aged individuals. Inbound tourism has played a crucial role in this growth, even during global lockdowns. The travel and tourism sector is poised for substantial revenue growth, with a significant portion expected to come from online sales in the coming years.

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Market Size of ASEAN Online Accommodation Industry

asean online accommodation market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.00 %
Market Concentration Medium

Major Players

ASEAN Online Accommodation Market Major Players

*Disclaimer: Major Players sorted in no particular order

ASEAN Online Accommodation Market Analysis

Southeast Asia's internet travel market is intriguing and exciting; it is a rapidly rising region with a digitally engaged and highly aspirational middle class currently underserved.

COVID-19 caused Cross- border travel restrictions in ASEAN countries, and the accommodation sector experienced multiple challenges in 2020 and 2021. However, it benefitted online accommodation bookings, and more people started using it.

The growing interest of tourists in more travel has been the major driver. Inbound tourism has been offering a major share to the market owing to the growing number of youngsters and middle-aged people in the country who are highly interested in travel and tourist activities. Inbound tourism helped the market expand further in 2020 when the world was under lockdown during the COVID-19 pandemic. Travel & Tourism, a driver for Online accommodation booking, is about to cross USD 20 billion in 2022, and 70% of total revenue will be generated through online sales by 2026.

ASEAN Online Accommodation Industry Segmentation

Online accommodation refers to the lodging booked online by travellers for the purpose of stay. Travelers can choose from the various types of accommodations available such as hotels, hostels, resorts, vacation rentals, and others. Accommodation can be booked through various sources, which include online travel agencies, hotel websites, booking through agents, and direct bookings. ASEAN Online Accommodation Market is segmented by Platform type (Mobile application and Website), by Mode of Booking Type (Third Party online portals and Direct/Captive portals), and by Country (Singapore, Malaysia, Indonesia, Thailand, and Rest of ASEAN).

By Platform
Mobile application
Website
By Mode of Booking
Third party online portals
Direct/captive portals
By Country
Singapore
Malaysia
Indonesia
Thailand
Rest of ASEAN
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ASEAN Online Accommodation Market Size Summary

The ASEAN online accommodation market is experiencing significant growth, driven by a digitally engaged and aspirational middle class that remains largely underserved. The COVID-19 pandemic initially posed challenges due to cross-border travel restrictions, but it also accelerated the adoption of online accommodation bookings. The resurgence of inbound tourism, particularly among younger and middle-aged travelers, has been a key factor in market expansion. The travel and tourism sector is poised for substantial growth, with a significant portion of revenue expected to be generated through online sales. The increasing use of online travel agencies, especially in countries like Singapore and Malaysia, highlights the demand for convenience and attractive offers. This trend is supported by the high level of internet engagement in Southeast Asia, where mobile connectivity is predominant.

The market is characterized by the presence of major players such as Agoda, Traveloka, Expedia, Hotels.com, and Booking.com, which dominate the landscape. These companies are leveraging technological advancements and service innovations to expand their market presence, securing new contracts and exploring untapped markets. Strategic partnerships, such as Traveloka's collaboration with Accor and Agoda's initiative with WWF-Singapore, underscore the commitment to enhancing customer experiences and promoting sustainable practices. As the region continues to evolve, these players are well-positioned to capitalize on the growing demand for online accommodation services in Southeast Asia.

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ASEAN Online Accommodation Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitutes

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Insights on impact of technology and innovation in the market

    6. 1.6 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Platform

      1. 2.1.1 Mobile application

      2. 2.1.2 Website

    2. 2.2 By Mode of Booking

      1. 2.2.1 Third party online portals

      2. 2.2.2 Direct/captive portals

    3. 2.3 By Country

      1. 2.3.1 Singapore

      2. 2.3.2 Malaysia

      3. 2.3.3 Indonesia

      4. 2.3.4 Thailand

      5. 2.3.5 Rest of ASEAN

ASEAN Online Accommodation Market Size FAQs

The ASEAN Online Accommodation Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Booking.com , TripAdvisor , Expedia , Hotels.com and Agoda are the major companies operating in the ASEAN Online Accommodation Market.

ASEAN Online Accommodation Market Report Snapshots

ASEAN Online Accommodation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)