Tourism equities experiencing potential surge?
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The online travel market has witnessed a significant growth in the post-pandemic era, driven by the shift towards digital platforms and the recovery from the COVID-19 pandemic.
According to various reports, the online travel market is expected to extend its growth from 2020 to 2027. While specific figures for the online travel booking market from 2020 to 2027 are not provided, we can infer the trend based on broader market trends.
One such trend is the recovery of the travel and leisure industry. Market strategists from Alger predict that the entire travel industry will benefit in the short term, with the online sector expected to continue growing. The travel and leisure industry's online market is predicted to grow from its 2020 size of $518 billion to $983 billion by 2027.
This growth is largely due to the increased adoption of digital platforms for travel booking. Currently, 65 percent of all travel spending is made online, a figure that is predicted to increase to 72 percent by 2025 according to Statista.
The shift towards digital platforms is also reflected in the source of vacation inspiration. According to Booking.com data, most vacation inspiration comes from the internet.
The recovery of the travel and leisure industry has also opened up potential investment opportunities. Low-cost airlines and casinos are industries that could benefit from the economic recovery and secular growth in the travel and leisure sector. Market strategists from Alger also predict investment opportunities in online travel booking companies.
Looking ahead, this year, travel and leisure spending is expected to rise by 29 percent. Next year, a 61 percent increase in travel and leisure spending is forecast. These figures suggest a robust recovery and continued expansion of the online travel market.
In conclusion, the online travel market has shown resilience in the face of the pandemic and is poised for significant growth in the coming years. The shift towards digital platforms, increased adoption, and the economic recovery make the online travel market an attractive investment opportunity.
References:
- ReportLinker
- MarketsandMarkets
- Statista
- IBISWorld
The financial prospects of the online travel industry are promising, with forecasted growth from 2020 to 2027, extending its market size from $518 billion to $983 billion as reported by various sources. This growth presents potential investing opportunities, particularly in online travel booking companies, as predicted by market strategists from Alger.
In addition, the recovery of the travel and leisure industry has opened avenues for investment in related sectors such as low-cost airlines and casinos, given their anticipated benefits from the economic recovery and secular growth in the travel sector. These investment choices contribute to a lifestyle that embraces travel and leisure activities, especially as post-pandemic trends indicate a rise in travel and leisure spending by 29 percent this year and 61 percent next year.
