Travel intermediaries suffered a significant decline in 2020 as a result of restrictions on travel due to COVID-19, and although a rebound to growth is expected in 2021, sales will remain less than half of those seen pre-pandemic. In addition, the better performance of direct sales put pressure on travel intermediaries in 2020, and this is set to continue in 2021.
OTAs have continued to look for niches in which they can grow, using big data, artificial intelligence and blockchain to determine how they can develop and offer more personalised and specialised services for their clients. They are increasing their offer of tourist packages, especially dynamic packages, given their strong growth potential.
Travel intermediaries is expected to see growth over the forecast period, but it will take several years before sales recover to pre-COVID-19 levels – this is likely to be beyond the end of the forecast period. Nevertheless, with the acceleration of the vaccination process and the lifting of travel restrictions both in Spain and abroad, travel intermediaries are set to regain some of the share lost to direct online sales.
Even before the COVID-19 pandemic, Spain was one of the EU nations with the highest rates of internet usage. In addition, travel is one of the categories, together with apparel, which has the highest share of e-commerce in the country.
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Understand the latest market trends and future growth opportunities for the Travel Retail industry in Spain with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Travel Retail research and analysis database.
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