The market size of the online travel industry worldwide increased sharply in 2023 compared to the previous year. After falling to 226 billion U.S. dollars with the onset of the COVID-19 pandemic, the online travel market's global revenue bounced back in 2022, then grew further in 2023, exceeding 600 billion U.S. dollars. This figure was expected to grow steadily in the following years, reaching an estimated 838 billion U.S. dollars by 2029. What are the leading online travel companies worldwide? When looking at the market capitalization of leading online travel companies worldwide, Booking Holdings reported the highest figure in 2024, ahead of Airbnb and Trip.com Group. The firm, which owns brands like Booking.com, Kayak, and Priceline, also topped the ranking of the leading online travel agencies (OTAs) worldwide based on revenue in 2023. Expedia Group, which operates brands like Expedia, Hotels.com, and Vrbo, reported the second-highest revenue that year. How big is the global travel and tourism market? According to Statista Market Insights, the travel and tourism market’s revenue worldwide – including hotels, package holidays, vacation rentals, camping, and cruises – amounted to almost 880 billion U.S. dollars in 2023. When breaking down global travel and tourism revenue by sales channels, the leading role played by the online market is clear, with online transactions generating over two-thirds of total sales value.

The Report Covers North America Online Travel Agency Industry Analysis and It is Segmented by Service Type (accommodation Booking, Travel Tickets Booking, Holiday Package Booking, and Other Services), Mode of Booking (direct Booking and Travel Agents), Booking Platform (desktop and Mobile/Tablet), and Geography (the United States, and Canada). The Market Size and Forecasts for the Online Travel Market in North America in Value (USD) for all the Above Segments.

The global customisation and personalisation in travel market size is expected to reach US$ 620.71 Million in 2032. The customisation and personalisation in travel market is growing rapidly.

As per FMI Analysts, the global customisation and personalisation in travel market is estimated to be valued at US$ 126.56 Million in 2022 and is projected to increase at a CAGR of 17.8% in the forecast period from 2022 to 2032.

Report Scope

The global online travel market size reached USD 566.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 1,377.2 Billion by 2033, exhibiting a growth rate (CAGR) of 9.85% during 2025-2033. The escalating penetration of smart devices, easy access to high-speed internet connectivity, the rising popularity of solo travel, and an increasing number of business travelers are some of the major factors propelling the market growth

In 2024, the online travel market size in Singapore was the highest in selected Southeast Asian countries, of which the gross merchandise value (GMV) reached 12 billion U.S. dollars. Comparatively, for the same year, the Philippines had an online travel market size value of three billion U.S. dollars. Online travel in the Asia-Pacific region Thanks to the growing middle class and the development of tourism infrastructure, the value of the travel market in the Asia-Pacific region has increased in recent years. For instance, the number of online travel booking users in China experienced rapid growth until a dip in 2020 during the COVID-19 pandemic, but the number of users continued to increase after June 2021. Besides being a leading online travel market in the Asia-Pacific region, Singapore also had a high share of consumers who had used online travel agencies (OTAs) in Asia. OTAs and tourism in the Asia-Pacific region The Asia-Pacific region has become an important travel destination for tourists worldwide. The number of international tourist arrivals in the Asia-Pacific region has steadily risen over the past decade. OTAs have played a crucial role in facilitating tourism growth in the region, making it easier for travelers to discover and access new destinations. Convenience and ease of use were the main reasons for using OTAs in India. The most used online travel agencies in Asia were Agoda and Booking.com.

The Latin America Travel and Tourism Market Report is Segmented by Type (International Tourism and Domestic/Local Tourism), Purpose (Adventure Tourism, Business Travel, Conference or Seminar Travel, and Family and Friends Visit), and Country (Brazil, Mexico, Colombia, Chile, Argentina, and Rest of Latin America). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

The report covers Latin America Travel Companies and it is segmented by Service Type (Accommodation Booking, Travel Tickets Booking, Holiday Package Booking, and Other Services), By Mode of Booking (Direct Booking and Travel Agents), By Booking Platform (Desktop, Mobile/Tablet), and by Geography (Mexico, Brazil, Argentina, and Rest of Latin America). The market size and forecast values for the Online Travel Market in Latin America in USD billion for the above segments.

The global business travel market was worth approximately 700 billion U.S. dollars in 2020, according to data published by Allied Market Research. This value is expected to grow by 188 percent in 2028.

Over the predicted time period, the digital travel market is expected to advance at a CAGR of 15%. (2022 to 2032). From US$ 400 billion in 2022, experts predict that the digital travel market is expected to expand to US$ 1,618 billion by 2032.

Report Scope

In 2024, the online travel market in Southeast Asia amounted to approximately 46 billion U.S. dollars. This was forecasted to increase by 2030, in which the online travel market in Southeast Asia was expected to be worth approximately 79 billion U.S. dollars.

Global Tourism Market size was worth around $11.39 trillion in 2023 and is predicted to grow to around $18.44 trillion by 2032 with a CAGR of 5.5%.

According to a 2020 forecast, in the best-case scenario, the travel market in Latin America could have a sustained year-on-year growth and reach a value of 83 billion U.S. dollars by 2024. In contrast, the worst-case scenario sees this Latin American market dipping below baseline levels. By 2024, the projected value could stand at 56 Billion U.S. dollars under those conditions.

In 2024, the global travel experience market was estimated at 1.1 trillion to 1.3 trillion U.S. dollars. That year, paid and structured activities, such as professionally guided tours or live-ticketed events, accounted for roughly 25 percent of the travelers' total expenditure on experiences worldwide. Leading companies in the experiential travel market: Viator Viator is Tripadvisor, Inc.'s company that focuses on the experiential travel market. In 2024, it accounted for almost half of Tripadvisor, Inc.'s revenue, representing the company's brand that reported the highest growth over the past five years. Meanwhile, the number of aggregated downloads of the Viator app worldwide increased by over 70 percent in 2024 over the previous year, exceeding four million. Leading companies in the experiential travel market: GetYourGuide vs. Klook Even though global downloads of the Viator app grew sharply in 2024, it was the Berlin-based company GetYourGuide that had the most downloaded app in the travel experience market that year. In 2024, aggregated downloads of the GetYourGuide app worldwide reached almost 14 million. Meanwhile, Klook, which focuses on the Asia-Pacific region, was one of the leading players in the market based on online traffic. In 2025, global website visits to klook.com totaled approximately 30 million.

Embark on a journey through the opulent realm of luxury travel, where every experience is a masterpiece crafted to indulge the senses. Future Market Insights presents an alluring forecast. In 2024, the current valuation of the market is US$ 2.26 trillion. By 2034, this market is forecasted to burgeon into a blazing inferno, with a valuation of US$ 4.24 trillion, fostering a moderate CAGR of 6.5%.

Historical Insights into the Luxury Travel Market's Performance

Category-wise Insights

Country-wise Insights

Report Scope

The Germany outbound travel market is poised for robust growth. It is anticipated to expand from USD 649.4 billion in 2025 to USD 1.2 trillion by 2035, representing a CAGR of 6.6% during the forecast period.

The USA outbound travel market is poised for substantial growth. It is projected to rise from an estimated USD 293.3 billion in 2025 to USD 498.6 billion by 2035, reflecting a CAGR of 5.4% during the forecast period from 2025 to 2035. This expansion is due to higher disposable incomes of individuals, higher interest in global tourism experience, and the rise in remote working, giving greater flexibility for extended holidays.

The China outbound travel market is set to experience strong growth. It is expected to increase from an estimated USD 167.7 billion in 2025 to USD 419.2 billion by 2035, reflecting a CAGR of 9.6% during the forecast period from 2025 to 2035. This growth is driven by rising middle-class income, a growing number of international flight routes, and an increasing interest in cultural and leisure tourism experiences outside of China.

The Latin America business travel market size reached USD 50.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 86.9 Billion by 2033, exhibiting a growth rate (CAGR) of 5.89% during 2025-2033. The rising investments in transportation and communication infrastructure, the implementation of favorable government policies to attract foreign investments to promote business growth, and the significant expansion in several industries are some of the major factors propelling the market.

IMARC Group provides an analysis of the key trends in each segment of the Latin America business travel market report, along with forecasts at the regional and country levels from 2025-2033. Our report has categorized the market based on type, purpose type, expenditure, age group, service type, travel type and end user.

The Report Covers Europe Online Travel Market Statistics and is Segmented by Service Type (Transportation, Travel Accommodation, Vacation Packages, and Others), by Booking Type (Online Travel Agencies, Direct Travel Suppliers), by Platform (Desktop, Mobile), and by Country (United Kingdom, Germany, France, Italy, and Rest of Europe). The Report Offers Market Size and Forecast Values for the European Online Travel Market in (USD) for the Above Segments.

The Report Covers China Travel Market Size and is Segmented by Service Type (Accommodation Booking, Travel Tickets Booking, Holiday Package Booking, and Other Services), Mode of Booking (Direct Booking and Travel Agents), and Booking Platform (Desktop, Mobile/Tablet). The market size and forecasts for the China online travel market are provided in terms of value (USD million) for all the above segments.