Online Travel Agencies in the UK - Industry Market Research Report

Online Travel Agencies in the UK - Industry Market Research Report

Online Travel Agencies in the UK

Over the five years through 2023-24, revenue has fallen at a compound annual rate of 5.6%. Faltering conditions in the air travel market weigh on finances as Online Travel Agencies (OTAs) scrabble to issue refunds and make alternative travel arrangements for consumers when airlines go bust or strikes happen. Unsurprisingly, OTAs didn't escape the effects of the COVID-19 outbreak and travel restrictions across the globe with plummeting sales, litigation threats and restructuring activity. Bookings exploded following the scrapping of travel restrictions for all travellers in March 2022. Still, OTAs' troubles weren't over immediately when borders reopened – the spike in passenger numbers has taken time to translate into the same rise in revenue with customers booking holidays using credit notes and vouchers.

Industry players provide online travel reservation and booking services, taking a percentage of the total transaction value booked through their websites to generate revenue. The industry excludes firms that also have a physical retail presence, and metasearch websites that do not allow travel bookings.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.