While Latin America has been recording strong growth in the last two years, booking sales are still below pre-pandemic levels, given the size of the losses seen in 2020. Dynamic performances are being registered across the region, in spite of the currently difficult economic backdrop in many countries, with prices rising in an inflationary global environment. Further positive growth is expected in the coming years, although the rates will slow as the forecast period progresses.
This report comes in PPT.
Booking.com has launched the first Sustainable Travel label to encourage the industry to offer a wider variety of sustainable accommodation. Its goal is to increase recognition of sustainability efforts and impacts that are attainable for more accommodation players. The aim is also to provide travellers with a way to identify a broader range of sustainable stays in transparent, consistent and easy-to-understand ways, no matter where they want to travel.
Mexican start-up GuruHotel is looking to create a “Shopify” for hotels, providing small entrepreneurs with the tools to help them avoid having to join large chains to compete. It has an experienced team, drawn from Expedia and Booking.com, with the platform fully integrated with payment methods. It was recording strong growth in 2021, with more expected in 2022.
Start-up Õner Travel is an example of increased distribution of travel products to consumers. Launched in early 2022, the start-up is a solution that combines direct selling and the travel industry to bring tourists and travel suppliers closer together, intermediated by autonomous agents. Individuals can join the platform for free and create their own digital store, with training provided by Õner. Compensation comes in the form of commissions.
Although offline booking has been recording strong growth since 2020, it is not expected to reach pre-pandemic sales levels again before the end of the forecast period. Online booking, however, is expected to top its 2019 sales again in 2024. However, online sales will still be just below those of offline booking in 2027, with many still preferring a more personalised service.
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
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