According to Facts and Factors’ newest study, the global E-tourism market was valued at over USD 886.07 billion in 2020 and is predicted to reach USD 1,699.80 billion by the end of 2026, rising at an extraordinary CAGR of nearly 11.50% between 2021 and 2026.
The E-tourism market refers to the virtual and internet-based services that can complement the traditional tourism market. Features such as flights, hotels, reservations, car renting services, and other forms of travel are achieved through electronic communication. E-tourism offers additional assistance for consumers by offering real-time help which increases their comfort and leisure time by a high margin.
The advent of the smartphone industry and the technological advancement in the connectivity field are expected to drive the global e-tourism market. Additionally, an increase in disposable cash among consumers and the easy accessibility of various marketing packages online will further help the e-tourism market reach previously untapped markets.
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Top Market Players
The major participants in the global e-tourism market are Balkan Holidays Ltd., Fred Harvey Company, and G Adventures, among others.
Market Dynamics
The global e-tourism market can be segmented into computer reservation systems, property management systems, social networks, global distribution systems on the basis of type. Social networks and global distribution systems are expected to occupy a large share of the market due to the huge reach of the latter with the advent of the internet.
The global e-tourism market can be divided into the hospitality industry and the aerospace & medical industry on the basis of application. The hospitality industry is expected to occupy the larger market share in the category during the forecast period owing to an increased demand for international travel by consumers.
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North America Will Occupy The Largest Market Share During The Forecast
North America is expected to occupy the largest market share in terms of global revenue during the forecast period. Factors credited to the enormous rise in e-tourism are the technological advancements being made in the field of connectivity and a litany of visual and popular tourist attractions in the region. Similarly, Asia-Pacific will witness steady growth in the forecast period.
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