The impact of Coronavirus (COVID-19) and the measures taken to contain its spread on travel and tourism have had an adverse effect on travel intermediaries. Positioned as a convenient one-stop location for busy modern consumers to book all aspects of their trips, travel intermediaries suffered from the negative impact of the pandemic on all areas of travel and tourism. Even as domestic tourism began to see signs of recovery, travel agencies with a focus on outbound tourism continued to struggle.
This report comes in PPT.
Asia Pacific holds the largest share in travel intermediaries globally, having overtaken North America in 2015. Growth has been driven by fast-growing economies and a burgeoning middle class.
The strong growth in Asia Pacific has relied heavily on China, with many countries attracting Chinese travellers by relaxing visa requirements.
As 74% of outbound tourists are intraregional travellers, it is critical for travel intermediaries to strengthen their overseas trip product ranges.
The substantial number of internet users in Asia Pacific and rapid technological development have led to strong expansion of OTAs and online channel development by traditional travel intermediaries.
In order to compete with the growing international OTAs, national travel intermediaries are actively developing unique and themed package holidays, where travellers can enjoy an authentic experience in destination countries.
With travel sales being sensitive to natural disasters, diseases and political issues, the recent COVID-19 outbreak is a serious concern to the tourism industry, as the number of trips is likely to be significantly affected.
An increase in inbound travellers is expected as a result of events such as the 2020 Olympics in Tokyo and the World Expo 2025 in Osaka.
With an increasing number of new players – OTAs, meta search platforms and even non-travel players – entering the market, severe price pressure is expected in the coming years.
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
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