There is a rapidly growing area in the global travel market for the last 3 years. Recent studies estimate that this market will reach $1.8 trillion. Which market is this?

What is the trillion dollar tourism market?

There is a rapidly growing area in the global travel market for the last 3 years. Recent studies estimate that this market will reach $1.8 trillion.

According to an Allied Market Research study, the global online travel market was $354.2 billion in 2020. It is expected to grow by 14.8% through 2031 to $1,835.6 billion in 2031.

According to the Global Opportunity Analysis and Industry Forecast, 2022-2031 report published by Allied Market Research, the global online travel market was $354.2 billion in 2020. The growing market in the middle and upper middle classes will reach $1,835.6 billion in 2031.

By types of services, transportation ranks first with $145.8 billion. But accommodation will take the lead in 2031.

By booking form, the direct travel suppliers segment is $197.3 billion.

Who are the key players?

Key players include Expedia Group, Ebury Partners, Fareportal, Hostelworld.com Limited, Hurb Co, HRS, Make MyTrip Ltd, Oracle, Priceline, SABS Travel Technologies, Tavisca Solutions, Thomas Cook India Ltd., travelomatix.com, Trip.com Group There’s Tripadvisor and WEX.