Market Trends of Europe Online Accommodation Industry
Increasing Internet Penetration is Augmenting the Market
E-commerce and Internet Banking services are growing at a rapid rate in the entire world. People from every age right from children to the old get excited to shop online from numerous e-stores. Internet accessibility to a large number of people means increased market penetration for online accommodation providers. The more people have internet access the farther the reach of the accommodation providers. During the COVID lockdown, a large number of people have shifted to online modes for shopping. Therefore, people are also more likely to go online when looking for accommodation. Online mode of shopping saves time and provides a lot of options for customers to choose from. This is the same in the case of online accommodation booking. Therefore, the industry may see a huge entry of new customers from diverse geographical regions.
The ecommerce industry along with online accommodation is expected to witness a rapid proliferation in the coming years. The rate of online shopping is growing beyond measure and this is driving e-commerce owners crazy to keep their solid place in the online race. Thus, online accommodation is gaining pace on similar lines across the entire Europe.
Easy Booking Facilities Promoting Healthy Tourism
The OTA has brought many hotels and accommodation services provided in an area on one platform. Easy comparison between two or more places located in the same region on the basis of their pictures, rates, facilities, and discount offers has made it very easy to find accommodation for travelers as per their needs. All the transactions takes place from authenticated websites ensuring safety to both customer and OTA 's. Customer's also have options like cancellation of bookings, changes to be done in bookings, switching options, installment options etc., which has made booking accommodation much more flexible for the customers. All these facilities have impressed the customers and hence promoted tourism. The companies in the industry know this and that is why technology is being integrated to create a greater in-room experience for customers. Also, the total contribution of travel and tourism to the gross domestic product (GDP) in Europe increased by 28 percent.
