The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2018
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Despite macroeconomic challenges and competitive pressures, travel intermediaries continue to go from strength to strength. Asia is behind the strong performance, where intermediaries remains the preferred booking channel and rising disposable incomes translate into travel sales. Expedia, Booking Holdings and Ctrip are all set to battle it out for future market supremacy, deploying an arsenal of digital tools including machine learning, data, AI and voice bookings.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
The world market for travel intermediaries is expected to exceed USD1,200 billion by 2023. It has not been plain sailing due to economic woes in Latin America and the need for digital transformation by traditional players to remain relevant.
Travel intermediaries in Asia Pacific is forecast to double in sales and share of world intermediaries. Rising income levels translate into greater propensity to travel at home and abroad, with a strong preference to book indirectly in Asia.
Intermediaries lodging sales will continue to deliver strong growth of 6% and additional sales of USD77 billion. The star growth performer will be other transport intermediaries sales, as brands provide greater product variety.
The US and China will battle it out for domination of travel intermediaries, spurred on by investment in web platforms, innovation and dynamic home players, that are investing heavily in providing a seamless, convenient booking experience.
Expedia leads the pack for travel intermediaries, from its start-up roots to global dominance. It faces intense competition from its rival, Booking Holdings, and the sheer control that Ctrip exerts over the domestic Chinese market.
With meta-search, search and social media brands having designs on the intermediaries space, such as Google, TripAdvisor and Skyscanner, further disintermediation is a real threat, in the battle for control of the customer journey.
The growing digital toolkit at brands’ disposal will drive consumer-centricity, putting the personal into personalisation by leveraging customers’ preferences. Voice bookings through Alexa and Google Home are but one future area of growth.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.