Published By : 05 Jan 2016 | Published By : QYRESEARCH
The travel industry is predicted to exhibit a healthy growth in the forecast period starting from 2014 to 2019 and is fuelled by the growing tourism. The countries in Asia Pacific are predicted to exhibit robust performances within the travel industry. The category of online travel is presently encountering swift changes with personalization, mobile channel, and peer to peer travel services emerging as major disruptors. The increasing mobile channel, in particular, is changing consumer behaviors, booking patterns, and business models within the travel industry. The arrivals of global tourists are predicted to expand at a CAGR of 4.0% from 2014 to 2019 and is fuelled by the region of Asia Pacific. The arrivals of global tourists accounted for 899 mn in 2009 and are expected to reach 1.4 bn trips by 2019.
The established online companies such as Amazon and Google may emerge as biggest threats for the already present industry giants. Recently, Amazon has introduced its travel site, named Amazon Destinations which helps customers in booking and locating hotels within their driving distances. Thus, the online travel industry is poised to grow exponentially in the coming years.