Market Size of United Kingdom Online Travel Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK Online Travel Market Analysis
The United Kingdom has one of the largest travel markets in Europe. U.K. consumers have embraced online channels for travel planning and booking the country is heavily dependent on global travel suppliers and intermediaries and is critically important as an outbound market for Europe and the rest of the world. UK's online travel market is the largest in Europe, and the country's online travel penetration is among the highest in the world. The online travel industry in the United Kingdom has undergone several changes over the last decade, owing to technological advances. The influx of big data and other complementing technologies such as automation and augmented and virtual reality is expected to create opportunities for travel agencies. By incorporating these technologies into their existing platforms and applications they can deliver a better user experience.
Social media platforms have emerged as major influencers and effective marketing platforms for online tour agencies. Travelers use social media platforms to share their travel experiences and post their reviews, helping other customers to choose travel agencies according to their requirements. This trend is expected to increase with the introduction of more social media platforms. The travel sector in United Kingdom has been among the hardest hit industries by COVID-19. Many companies are already shifting focus to 2021 and 2022. The market outlook varies significantly for travel companies depending on their exposure to different holiday types, destinations served and customer demographics. 50% of United Kingdom travelers intend to book via an online travel agency (OTA) after Covid-19. Online Travel Agencies are a critical channel for attracting domestic travelers as the United Kingdom market rebuilds its tourism industry.
