Press release
Global Electronic Tourism (E-Tourism) Market Insights and Forecast 2024
Electronic Tourism (E-Tourism) Market Insights
The new report published by The Business Research Company, titled Electronic (E) Tourism Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the electronic (E) tourism market size has grown rapidly in recent years. It will grow from $1043.34 billion in 2023 to $1149.84 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The electronic (E) tourism market size is expected to see rapid growth in the next few years. It will grow to $1,703.88 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%.
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What Is Driving The Growth Of The Global Electronic (E) Tourism Market?
Rising Interest In Heritage Travel Boosts Growth In E-Tourism Market
Growing interest in heritage travel is expected to propel the growth of the electronic (E) tourism market going forward. Heritage travel involves visiting historical and cultural sites to explore and appreciate a region's history, traditions, and architectural legacy. The growing interest in heritage travel stems from a desire for authentic experiences that connect travelers with history and culture. E-tourism enhances heritage travel by providing online access to information, virtual tours, booking services, and reviews for historical and cultural sites. For instance, in November 2023, according to a survey conducted with 33,524 participants by the Department for Digital, Culture, Media, and Sport, a UK-based government agency, 67% of adults had visited a heritage site in person in the past 12 months, up 5% from 2021/2022, when it was 63%. Meanwhile, digital engagement with heritage sites increased by 2%, reaching 18% compared to 16% in 2021/2022. Therefore, growing interest in heritage travel is driving the growth of the electronic (E) tourism market.
What Is The Key Trend In The Global Electronic (E) Tourism Market?
E-Tourism Companies Embrace AI For Personalized Travel
Major companies operating in the electronic (E) tourism market are focusing on shifting toward personalized recommendation solutions, such as artificial intelligence (AI)-based trip planners, to enhance customer engagement and drive increased bookings. AI-based trip planners use artificial intelligence to generate customized travel itineraries, enhancing user satisfaction and boosting booking rates. For instance, in June 2023, Booking.com, a Netherlands-based online travel agency, launched its AI Trip Planner, a new feature within its app that leverages AI and large language model technology to provide a conversational and personalized travel planning experience. This tool allows users to receive tailored travel recommendations, explore destinations, and book accommodations seamlessly, all through an interactive chat interface.
How Is The Global Electronic (E) Tourism Market Segmented?
The electronic (E) tourism market covered in this report is segmented -
1) By Type Of System: Computer Reservation Systems, Property Management Systems, Social Networks, Global Distribution Systems
2) By Booking Behavior: Spontaneous Travelers, Meticulous Planners, Tech-reliant Travelers
3) By Travel Style: Adventure Seekers, Luxury Travelers, Cultural Enthusiasts, Business Travelers
4) By Application: Hospitality Industry, Aerospace And Medical Industry
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How Is The Competitive Landscape Of The Global Electronic (E) Tourism Market?
Major companies operating in the electronic (E) tourism market are Booking Holdings Inc., Expedia Group, Airbnb Inc., Amadeus IT Group, Trip.com Group, Vacation Rentals by Owner (Vrbo), Agoda Company Pte. Ltd., TripAdvisor Inc., Orbitz Worldwide Inc., Trivago N.V., MakeMyTrip Limited, Viator Inc., Lastminute.com Group, Hotels.com L.P., MakeMyTrip Limited, Skyscanner Limited, Hopper Inc., Travelocity.com Inc., GetYourGuide GmbH, Klook Travel Technology Limited, Hotwire Inc., Sygic a.s., Travel Leaders Group LLC, Yatra Online Inc, Musement
Contents Of The Global Electronic (E) Tourism Market
1. Executive Summary
2. Electronic (E) Tourism Market Report Structure
3. Electronic (E) Tourism Market Trends And Strategies
4. Electronic (E) Tourism Market - Macro Economic Scenario
5. Electronic (E) Tourism Market Size And Growth
…..
27. Electronic (E) Tourism Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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