travel market – आवारा मुसाफिर

Fuelled by Experiential Travel demand, travel market grows exponentially

February 10, 202583 Views

The global travel market size is estimated to grow by USD 2.86 trillion from 2024-2028, according to a leading global technology research and advisory company Technavio. The market is estimated to grow at a CAGR of 11.1% during the forecast period. Growing popularity of experiential travel is driving market growth, with a trend towards increasing international tourist footfall. The online travel market is booming, with a significant increase in bookings during the pandemic. Domestic tourism is on the rise as people opt for micro trips and new experiences. Mobile apps and online travel agents are making holiday planning easier, offering customized tours, private tours, and luxury travel packages. Car rentals and accommodation facilities are also adopting digital transformation, providin...

खबरनामाट्रैवल उद्योग

Travel and Tourism to become a trillion-dollar industry by 2027

AWARA MUSAFIR BUREAU

July 1, 2024274 Views

Although it took three years for the global travel and tourism sector to fully recover after COVID-19, the entire market has picked up the pace of solid growth and is on its way to reaching a new massive milestone. According to data presented by Stocklytics.com, the global travel and tourism industry is expected to gross $927 billion in revenue this year, 8.3% more than in 2023. This figure will grow by 14% and hit over one trillion dollars in 2027. Camping and cruises will remain the fastest-growing segments Four years after COVID-19 hit, it seems like the travel and tourism sector was never down on its knees, with people worldwide spending billions of dollars on traveling and vacation. Although inflation has significantly raised the prices of accommodation and tourist services,...

खबरनामाट्रैवल उद्योग

Online travel market set to reach $765.3 billion by 2025

AWARA MUSAFIR BUREAU

February 23, 20221033 Views

GlobalData says, COVID-19 is accelerating digitization COVID-19 has accelerated the need for companies within the travel and tourism industry to rapidly invest in digital strategies including the global online travel market which is expected to grow at a compound annual growth rate (CAGR) of 8% to reach $765.3 billion between 2022 and 2025, according to GlobalData. The leading data and analytics company notes that due to more consumers shifting to e-commerce, if players fail to invest in a robust digital strategy, they will allow their competitors to take a greater share of the market. FILE PHOTO: A man rides a horse at Cha-Am Beach, amid the coranavirus disease (COVID-19) outbreak, in Phetchaburi province, Thailand, December 25, 2021. REUTERS/Athit Perawongmetha GlobalData’s lat...