Market share of online travel booking websites & OTAs likely to expand in 2022, post pandemic

NEW YORK - April 21, 2022 - PRLog -- Prone to the recent measures we are habituated with like Social distancing and self- isolation, people resuming into a travel agency will no longer be a chosen option over the coming months. So, the demand of an online travel agency (OTA) platforms may garner greater traction.

Per the consumer survey it sighted at 44% of global travelers booked via an OTA in comparison to the 17% booked through in store travel agents. Post pandemic and the lockdown across the globe this percentage of global travelers booking with an OTA is likely to be on a higher end.

The global market value of Online travel intermediaries hit $332bn in 2019 with an increase of 6.2% from the previous year. And it is predicted that there would be a growth at an expansive CAGR of 7.7% between the years 2020 - 2023. This prediction may even increase, as the impact of COVID -19 has lessened in few parts there's a huge chance of the prospective travelers opting to use OTA's. This will remain the preference as there would be still hesitance oh having a human contact which will for sure be more in these places like high street travel agencies.

There would be a huge impact on the consumer behaviour post Covid - 19, during this pandemic crisis and the Stay-at-home orders the potential mediums to communicate with stakeholders (in addition to email) are online mediums which are very susceptible.

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Window shopping trend post COVID-19 holidays is going to be a boost for OTA sector

The demand for travel shall grow rapidly. While consumers are window shopping for travel at this point of time the OTA's can take the advantage of having their presence in the market and strategize their deals and advert about them for later this year. In a technology reliant world, COVID 19 has created more dependency on a digitally driven future for travel. It would take time for consumers to get off this Social distancing and have the appeal of face-to-face communication with an in-store travel agent.

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