Mubasher: Online platforms have grown to be a major requirement for travel businesses nowadays, as stated by data provider GlobalData's latest report “Impact of online travel.”

Global online travel agent market value is set to hit $327 billion by 2023, compared with $258 billion in 2018, GlobalData said.

The report suggested that the emerging customer attitudes were fuelling the growth of the online travel industry, as both advanced and developing economies are gradually adapting to the trends.

For instance, in the UK, online travel agents overtook their in-store counterparts last year, recording a compound annual growth rate (CAGR) of 2.6%.

“The UK is one of the most technologically advanced destinations and the growth rates for OTA market value is over double the rates for in-store travel agents during 2018 to 2023,” GlobalData’s travel and tourism analyst Johanna Bonhill-Smith said.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.