Online travel sales to residents continued to register strong value growth in 2017, with a sales rise of 6%. In general, more and more Singaporeans are choosing to do their travel planning, from sourcing to booking, online and on their own. According to a study by metasearch site KAYAK, the number of Singaporeans referring to online travel agents (OTAs), social media and blogs for travel inspiration has increased more than two-fold compared with just 10 years ago. The proportion of Singaporeans making travel bookings online has also increased substantially, to 89%; whereas 10 years prior it was just 36%.
In the forecast period, the online travel sales to residents category is expected to achieve a value CAGR of 8% at constant 2017 prices, and reach SGD8.8 billion in 2022. Singaporeans’ preference for using online channels for almost the entire travel planning process will only increase in the future, and the presence of metasearch engines will only make online travel planning and booking more efficient and attractive for them.
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