Dublin, Oct. 25, 2024 (GLOBE NEWSWIRE) — The “Electronic (E) Tourism Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
This Electronic (E) Tourism industry report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The electronic (E) tourism market size has grown rapidly in recent years. It will grow from $1.04 trillion in 2023 to $1.14 trillion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth during the historic period can be attributed to several factors, increased Internet accessibility, the rise of mobile technology, the expansion of social media platforms, the proliferation of online booking platforms, consumer preference for convenience, enhanced partnerships between airlines and hotels, the development of travel review sites, competitive pricing strategies, and the overall growth of the global tourism industry.
The electronic (E) tourism market size is expected to see rapid growth in the next few years. It will grow to $1.7 trillion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The anticipated growth during the forecast period can be attributed to several factors, the expansion of personalized travel experiences, growth in mobile app bookings, increasing adoption of blockchain technology, a focus on sustainable tourism, advancements in digital marketing strategies, and the rise of virtual tourism experiences.
Major trends expected to shape this period include contactless payments, eco-friendly travel options, the use of AI chatbots for customer service, personalization of travel offers through big data, smart tourism technologies, blockchain for secure transactions, remote work travel packages, and enhanced customer experiences driven by AI insights.
The increasing interest in heritage travel is anticipated to drive growth in the electronic (E) tourism market. This rising interest is fueled by a desire for authentic experiences that connect travelers with historical and cultural contexts. E-tourism enhances heritage travel by offering online access to information, virtual tours, booking services, and reviews of historical and cultural sites. For example, a survey conducted in November 2023 by the Department for Digital, Culture, Media, and Sport, a UK-based government agency, found that 67% of adults had visited a heritage site in person in the past year, an increase from 63% in 2021/2022. Additionally, digital engagement with heritage sites grew by 2%, reaching 18% compared to 16% in the previous period. Thus, the growing interest in heritage travel is contributing to the expansion of the electronic (E) tourism market.
Key players in the electronic (E) tourism market are increasingly focusing on personalized recommendation solutions, such as artificial intelligence (AI)-based trip planners, to boost customer engagement and increase bookings. For instance, in June 2023, Booking.com, a Netherlands-based online travel agency, introduced its AI Trip Planner. This new feature, integrated into the app, utilizes AI and large language model technology to offer a conversational and personalized travel planning experience. Users can receive tailored travel recommendations, explore destinations, and book accommodations seamlessly through an interactive chat interface.
In March 2022, Despegar.com Corporation, an Argentina-based online travel company, acquired TVLX Viagens e Turismo S.A. (Viajanet) for approximately $15 million. This acquisition enables Despegar to utilize Viajanet’s customer base to promote higher-margin travel products, such as accommodations. The integration is expected to improve Viajanet’s conversion rates and marketing capabilities through Despegar’s technology platform. TVLX Viagens e Turismo S.A. (Viajanet) is a Brazil-based online travel agency offering e-tourism services.
North America was the largest region in the electronic (E) tourism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the electronic (E) tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electronic (E) tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Markets Covered:
1) By Type of System: Computer Reservation Systems; Property Management Systems; Social Networks; Global Distribution Systems
2) By Booking Behavior: Spontaneous Travelers; Meticulous Planners; Tech-reliant Travelers
3) By Travel Style: Adventure Seekers; Luxury Travelers; Cultural Enthusiasts; Business Travelers
4) By Application: Hospitality Industry; Aerospace and Medical Industry
Key Companies in the E-Tourism Market: Booking Holdings Inc.; Expedia Group; Airbnb Inc.; Amadeus IT Group; Trip.com Group
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $1.14 Trillion |
| Forecasted Market Value (USD) by 2028 | $1.7 Trillion |
| Compound Annual Growth Rate | 10.3% |
| Regions Covered | Global |
Companies Featured
- Booking Holdings Inc.
- Expedia Group
- Airbnb Inc.
- Amadeus IT Group
- Trip.com Group
- Vacation Rentals by Owner (Vrbo)
- Agoda Company Pte. Ltd.
- TripAdvisor Inc.
- Orbitz Worldwide Inc.
- Trivago N.V.
- MakeMyTrip Limited
- Viator Inc.
- Lastminute.com Group
- Hotels.com L.P.
- MakeMyTrip Limited
- Skyscanner Limited
- Hopper Inc.
- Travelocity.com Inc.
- GetYourGuide GmbH
- Klook Travel Technology Limited
- Hotwire Inc.
- Sygic a.s.
- Travel Leaders Group LLC
- Yatra Online Inc
- Musement
For more information about this report visit https://www.researchandmarkets.com/r/n9e4vk
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- Electronic (E) Tourism Market
