The global online accommodation booking market size is anticipated to showcase substantial growth in the forthcoming years due to substantial government support for the tourism industry. This information is published by Fortune Business Insights in its report, titled "Online Accommodation Booking Market, 2023-2030". The all-around growth of several industries and rising disposable income are bolstering the sales of the product. Moreover, the tourism industry is one of the essential sections of economic growth. This is substantially supported by the government initiatives to encourage tourism and promote the tourism of international and domestic tourists.
List of Key Players Profiled in the Market:
What Does the Report Contain?
The report offers an insight into the profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players, are included in the research conducted by market experts in online accommodation booking.
Drivers & Restraints
Increasing Demand for Tourism Surges Product Demand
The increasing demand for tourism across the globe is augmenting substantial online accommodation booking market growth. For example, in 2019, the World Travel and Tourism Council (WTTC) revealed that the tourism and travel industry is valued at USD 8.8 trillion in 2018 while generating 10.4% of the global GDP. The increasing use of cloud computing, virtual reality, mobile communication, the internet of things, and artificial intelligence is promoting the growth of the product.