Europe Online Travel Market Size (2024 - 2029)

Europe Online Travel Market Analysis

The Europe Online Travel Market size is estimated at USD 89.22 billion in 2024, and is expected to reach USD 131.94 billion by 2029, growing at a CAGR of 8.14% during the forecast period (2024-2029).

Online bookings are advancing faster than the overall market, with most of the growth coming from suppliers' and OTAs' mobile platforms. In Europe, a focus on tourism is seen as 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. Given the large-scale use of social media by consumers, their preferences and interests are easily tracked, which helps travel companies target those that are likely to opt for travel experiences and who can also afford travel packages. These factors offer online travel companies highly comprehensive insights into customer wants and behaviours.

With the emergence of the COVID-19 pandemic, Europe's online travel industry experienced a sharp fall in demand, especially in 2020. The worldwide spread of the coronavirus resulted in complete lockdown and border closures in a number of countries. Moreover, the shutdown of the airline industry and the increasing fear of catching the coronavirus while traveling pushed people to stay at home. All these factors negatively impacted the growth of the market. However, the market bounced back in 2021 while growing at a significant rate from 2022 onward.

Europe Online Travel Industry Segmentation

Online travel is the type of travel that is booked online through a website or a mobile application that has a specialty in making the travel arrangements, such as flight tickets, car rentals, and packages. A complete background analysis of the market, including the analysis of market size and forecast, industry trends, growth drivers, and leading players, is provided in the report. Additionally, the report features qualitative and quantitative assessments by analyzing the data gathered from industry analysts and market participants across key stakeholders in the industry's value chain. 

The market is segmented by service type, by booking type, by platform, and by country. By service type, the market is segmented into transportation, travel accommodations, vacation packages, and others. By booking type, the market is segmented into online travel agencies, direct travel suppliers. By platform, the market is segmented into desktop, mobile, and by country, the market is segmented into United Kingdom, Germany, France, Italy, and Rest of Europe. The report offers market size and forecast values for the European Online Travel Market in USD for the above segments.