Europe Online Travel Market Outlook, 2028

Europe Online Travel Market Outlook, 2028

The Europe Online Travel Market is a vibrant marketplace where centuries-old charm meets cutting-edge technology, providing travelers with a seamless blend of heritage and innovation. The continent's diverse tapestry of cultures and landscapes lures adventurers and leisure seekers alike, from the grandeur of historical landmarks to the attraction of urban cities. The tech-savvy population of Europe, together with its solid digital infrastructure, has propelled the internet tourism business to new heights. With high internet penetration, cellphones at many people's fingertips, and ubiquitous access to high-speed connectivity, online travel platforms have emerged as the go-to source for trip planning and booking. These platforms provide not only convenience but also a profusion of flight, lodging, tour, and experience alternatives, appealing to the different interests of modern travelers. One of Europe's most distinguishing features is its cultural variety. The internet travel business capitalizes on this by arranging experiences ranging from visiting historical monuments such as Rome's Colosseum to sampling the culinary delights of Parisian cafes. Travelers are increasingly seeking bespoke itineraries that correspond with their preferences, whether it's art, gastronomy, adventure, or wellness. Users can customize their experiences on online travel platforms, ensuring that each experience is tailored to their tastes. Europe is a diverse continent with many different languages and cultures, and online travel companies understand the necessity of catering to local markets. Many platforms provide material and services in multiple languages, making them accessible to tourists from all over the world. This localization increases trust, making internet travel more appealing for non-English-speaking users. The emergence of collaborative and sharing economies is transforming European travel habits. Peer-to-peer services such as home sharing are made possible by online platforms, allowing travelers to immerse themselves in local communities and neighbourhoods. This trend reflects a desire for real experiences and direct interactions with locals, altering how lodgings are searched for and booked in the process.

According to the research report, “Europe Online Travel Market Outlook, 2028” published by Bonafide Research, the market is expected to add more than USD 95 Billion from 2023 to 2028. Europe's compact geography and well-connected transportation networks make it ideal for seeing numerous nations in a single trip. Online travel platforms specialize in making multi-destination itineraries simple, making cross-border travel accessible and efficient. Europe is home to a myriad of events, ranging from Oktoberfest in Germany to Carnival in Venice. Online travel services specialize in providing information about these festivals, allowing passengers to schedule their travels around distinctive cultural celebrations. The image of Europe as a place of luxury and romance is well reflected in online travel companies that select high-end accommodations, private tours, and romantic retreats in settings such as the rolling hills of Tuscany or the French Riviera. Europe's scenic rail routes are celebrated travel experiences. Online platforms specialize in offering information and bookings for heritage rail journeys that traverse picturesque landscapes, offering a unique perspective of the continent. Europe's robust digital infrastructure and high internet penetration rates have resulted in the widespread use of online travel planning and booking services. The ease of accessing information and doing transactions online is a key driver of market expansion. The interconnection and open borders of Europe encourage cross-border travel, allowing tourists to visit many nations in a single trip. Online platforms capitalize on this trend by providing tools that make multi-destination trips easier to plan. User-generated reviews and social media influence travel decisions significantly. Online travel platforms that include user reviews, ratings, and social sharing opportunities impact passengers' decisions and help the market expand. Niche travel segments, such as solo travel, wellness tourism, and adventure travel, are gaining traction. Online platforms cater to these segments by offering specialized experiences and curated content.

Based on report market include six major countries, Germany, United Kingdom, France, Italy, Spain, and Russia. Among them market is majorly dominated by United Kingdom. The United Kingdom is a key worldwide business hub, and online travel platforms play an important role in making business trip bookings easier. Many professionals plan flights, hotels, and transportation for business trips using online resources. Rail travel is common within the United Kingdom and to neighbouring European countries. Trainline and other online platforms make it simple for travelers to order train tickets and check schedules. In the United Kingdom, there is a growing interest in ecotourism and sustainable travel practices. Online platforms are frequently used by travelers to identify eco-friendly accommodations and activities that correspond with their environmental beliefs. British tourists frequently enjoy city holidays, taking weekend or longer vacations to European cities. Online platforms provide a wealth of city break choices, including flights, lodgings, and guided tours. Travel information on social media platforms such as Instagram, YouTube, and Pinterest frequently impacts British travelers. The LGBTQ+ tourism community in the United Kingdom is thriving. Online platforms give information about LGBTQ+-friendly places, lodging, and events. Skiing and other winter sports are popular among UK visitors. Online platforms provide comprehensive information on ski resorts, equipment rentals, and ski packages for places all over the world.

In terms of service type market is segmented into transportation, travel accommodation, vacation packages, and others (travel insurance, visas and passport services, currency exchange services, travel spa and wellness services, travel gear and gadgets, etc.). Travel accommodation service type is expected to register highest CAGR in Europe online travel market.
The amazing expansion of travel accommodation service types in the European online travel market can be linked to a confluence of elements that resonate with current travelers preferences and behaviors in the region. From historic boutique hotels to lovely bed and breakfasts, luxury resorts to eco-friendly lodges, Europe's rich and multidimensional travel landscape provides a wide selection of lodgings. Online travel platforms have capitalized on this diversity by curating a wide range of housing options to suit a variety of budgets, styles, and interests. The expanding trend of experiential travel, in which tourists seek real and engaging encounters, has increased the importance of lodging as an essential component of the journey. Furthermore, the rise of alternative lodgings such as home sharing and holiday rentals has challenged the traditional hospitality sector, boosting demand for accommodation-focused online travel services even more. These platforms include detailed information, high-quality photos, guest evaluations, and location insights, allowing passengers to make informed decisions based on their unique requirements. Furthermore, the ease of online bookings and the ability to compare costs and facilities in real time have positioned accommodation service types as a key driver of growth in the European online travel market.

Based on device market is bifurcated into laptop/desktop devices and mobile devices. Mobile devices segment is expected to grow at significant rate in Europe. Furthermore, based on mode of booking market is divided into online travel agencies (OTAs) and direct travel suppliers.

Europe has one of the highest rates of mobile penetration in the world, with a sizable section of the population dependent on cellphones for daily activities. As mobile devices become more and more ingrained in people's lives, online travel companies have recognized the significance of catering to this mobile-centric customer base. Travelers are increasingly looking for on-the-go access to travel information, booking options, and real-time updates. Mobile devices make it possible to use these services from anywhere, allowing passengers to study, plan, and book their travels while commuting, waiting in line, or experiencing a place. Travelers can use mobile apps to get up-to-date information on flights, accommodations, and activities. Users can make spontaneous decisions, adjust plans on the go, and respond to unforeseen changes in their itinerary because of this real-time availability. The inclusion of safe mobile payment solutions has increased trust in mobile transactions. As users gain confidence in mobile payments, online travel companies have adopted the trend, allowing for seamless and secure booking processes. Online travel agencies (OTAs) are the mode of booking in Europe for online travel. OTAs offer one-stop shops for a variety of travel services, such as flights, lodging, auto rentals, tours, and activities. This complete approach appeals to European travelers who appreciate convenience and efficiency in trip preparation. The broad range of countries, cultures, and attractions throughout Europe provides a wealth of travel alternatives. OTAs cater to this diversity by curating a diverse range of places and activities, allowing passengers to enjoy everything from historic cities to picturesque countryside. Because of the close proximity of European countries and the simplicity of cross-border travel, multi-country itineraries are popular. OTAs specialize in making complex bookings involving several destinations simple, allowing travelers to plan and tailor their journeys with ease.

Recent developments:

• Booking.com launched the Ultimate Pride Amsterdam Experience on July 27, 2022, to commemorate the 25th anniversary of the renowned Canal Parade.

• Lastminute.com, Europe's travel-tech leader, introduced its first physical gift card in May 2022, which will be available at a number of big stores in the UK, including Morrisons, Tesco, and Amazon.

• February 2023, eDreams ODIGEO announced that they have signed a New Distribution Capability (NDC) agreement with British Airways and Iberia, both part of IAG, one of the world's leading airline groups. This agreement will give eDreams ODIGEO access to more data and inventory from British Airways and Iberia, which will allow them to offer their customers better prices and more choice.

• March 2023, Ryanair announced that they would be launching a new loyalty program called Ryanair Plus. This program will offer members a number of benefits, including priority boarding, extra baggage allowance, and discounts on flights and extras.

Key Players Insights:

Booking Holdings Inc., Airbnb, Inc., Edreams Odigeo, Expedia, Inc., Thomas Cook Group plc, Hostelworld.com Limited, Alibaba Group Holding Limited, Tripadvisor LLC, Trip.com Group Limited, Despegar.com, Corp, Lastminute.com Group, Fareportal, HRS GmbH, Wego Pte Ltd, 2fntravel.

Considered in this report:

• Geography: Europe
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:

• Europe Online Travel with its value and forecast along with its segments
• Country-wise Online Travel market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:

• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia

By Service Type:

• Transportation
• Travel Accommodation
• Vacation Packages
• Others (Travel Insurance, Visas and passport services, Currency Exchange Services, Travel spa and wellness services, Travel gear and gadgets, etc.)

By Device:

• Laptop/Desktop Devices
• Mobile Devices

By Mode of Booking:

• Online Travel Agencies (OTAs)
• Direct Travel Suppliers

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Online Travel industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.
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