Travel Arrangement And Reservation Services Global Market To Reach Value Of About $474 Billion In 2025

23 Feb, 2021

The travel arrangement and reservation services market consists of sales of travel arrangement and reservation services and related goods by entities (organizations, sole traders and partnerships) that provide travel agency services, arrange and assemble tours or provide other travel arrangement and reservation services.

Global Travel Arrangement And Reservation Services Market Size And Drivers:

The global travel arrangement and reservation services market is expected to grow from $303.59 billion in 2020 to $370.1 billion in 2021 at a compound annual growth rate (CAGR) of 21.9%. The market is expected to reach $474.36 billion in 2025 at a CAGR of 6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.

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Trends In The Global Travel Arrangement And Reservation Services Market

Travel agencies and tour operators are increasingly using chat bots to offer personalized travel bookings to customers. A chat bot is an artificial intelligence program that can simulate a conversation with customers through messages or telephone calls and perform tasks such as ticket bookings and hotel reservations. Chat bots are an alternative to mobile applications and websites that provide personalized recommendations and bookings based on travel preferences and date of travel.

Global Travel Arrangement And Reservation Services Market Segments:
The global travel arrangement and reservation services market is further segmented based on type, mode of travel, mode of booking and geography.
By Type:Travel Agencies, Tour Operators, Convention And Visitors Bureaus, Other Travel Arrangement And Reservation Services.
By Mode of Travel:Domestic Travel, Foreign Travel.
By Mode of Booking:Online, Online.
By Geography:The global travel arrangement and reservation services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Western Europe is the largest region in the global travel arrangement and reservation services market, accounting for 49% of the total market.

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Travel Arrangement And Reservation Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides travel arrangement and reservation services market overviews, analyzes and forecasts market size and growth for the global travel arrangement and reservation services market, travel arrangement and reservation services market share, travel arrangement and reservation services market players, travel arrangement and reservation services market segments and geographies, travel arrangement and reservation services market’s leading competitors’ revenues, profiles and market shares. The travel arrangement and reservation services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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