Market Trends of Online Travel Industry
The Expanding Tourism Industry in the United States is Helping the Market in Recording More Transactions
The tourism sector is on a growth path in the United States, owing to the country's rising number of tourist arrivals. Chinese tourists account for the highest spenders among the other tourists and are growing in recent years, and for luxury hotel companies, the Chinese are the second-largest source. For instance, Four Seasons Hotels and Resorts stated that China is its second-largest source market. Revenue from Chinese travelers increased steadily for Four Seasons, with double-digit growth in revenue in recent years, and thus the total number of transactions. People traveling to the United States for business purposes, health, and wellness purposes are also on the rise, and leisure travel to the country is helping the online travel market record a growing number of transactions.
High Internet Penetration in the Region is Helping the Market in High Revenue Generation
North America is one of the regions with the highest internet penetration rates globally. This high penetration rate is one of the major driving factors for users to participate in online travel booking. The recent trends revealed that the desktop is a dominant mode of accessing and booking online travel agencies. As per recent publications in North America, more than 75% of travelers are booking tickets online through their desktops. The mobile penetration rates show the shift towards this platform. It is still significantly lesser compared to desktop usage. However, the use of mobile phones, especially with the launches of mobile applications by travel booking agencies, is expected to drive the market with more mobile bookings during the forecast period in the region.
