According to the latest research from ReasearchandMarkets.com, the global online travel market will reach $1.56 trillion between 2024 and 2030.
The industry is witnessing a growing trend due to the emergence of online payment methods such as UPI and the growing preference for mobile devices, which make travel arrangements much easier.
With the advancement of technology, the convenience of mobile devices/tablets for booking accommodation and transportation has become paramount. The report highlights the accelerating growth of this segment as more travelers are using their smartphones to make real-time bookings.
The move to a mobile-first design is consistent with the overall evolution digital consumer behavior. Which underscores the importance of convenient and affordable travel options. Among regional markets, China is emerging as an industry leader, demonstrating amazing potential in the online travel market.
Factors contributing to this growth are:
- Large customer base with knowledge of technology.
- Increased Internet and mobile penetration.
- Government initiatives aimed at strengthening tourism infrastructure.
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