DUBLIN–(BUSINESS WIRE)–The “Online Travel Agencies in the UK – Industry Research Report” report has been added to ResearchAndMarkets.com’s offering.
The travel and tourism industry has been one of the most volatile sectors across the globe, and the Online Travel Agencies (OTAs) sector in the UK has been no exception. A new industry research report now available offers a comprehensive examination of the trials, tribulations, and recent surge in booking activities that OTAs have experienced in the UK over the past five years.
Within this report, readers will discover invaluable insights into the compounding factors that have led to a compound annual revenue decline of 5.6% through 2023-24. Influences such as the adverse conditions in the air travel market and the impact of the COVID-19 pandemic have had far-reaching effects on the financial health of OTAs. The analysis dissects how these industry players have navigated issuing refunds, handling alternative travel arrangements, and facing litigation threats amidst an array of operational restructuring activities.
However, it’s not all been tumultuous skies for the OTA market. The report highlights the explosion in bookings that followed the lifting of travel restrictions in March 2022, indicating a robust rebound. While the resurgence of passenger numbers did not immediately translate into equivalent revenue growth due to the use of credit notes and vouchers, the long-term outlook appears promising.
An intricate part of the industry’s landscape is the operational model of these agencies, which focuses on providing online travel reservation and booking services. The mechanisms through which revenues are generated, mainly through commission-based earnings reflective of transaction values, are explored in detail. It’s important to note that physical travel retailers and metasearch engines that do not directly facilitate bookings are outside the report’s scope.
Readers will benefit from a series of five-year forecasts that paint a picture of the anticipated industry growth rates and market shares. Critical sensitivities, success factors, and an in-depth analysis of the industry’s key players are laid out systematically to provide a clear understanding of the current and future landscape of the UK’s Online Travel Agencies market.
Key highlights included in the industry report:
- Extensive analysis of the adverse effects from external market pressures and the global pandemic.
- Evaluation of the explosive growth in bookings following the easing of travel restrictions.
- Insightful projections and forecasts for industry growth and market share.
- Thorough examination of revenue generation strategies employed by OTAs.
For more information about this report visit https://www.researchandmarkets.com/r/w7jajx
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900