Southeast Asia's internet travel market is intriguing and exciting; it is a quickly rising region with a digitally engaged and highly aspirational middle class that is currently underserved.
Covid-19 caused Cross- border travel restrictions in ASEAN countries, the accommodation sector experienced multiple challenges during 2020 and 2021. However it benefitted online accommodation bookings and more people started using it.
The growing interest of tourists in more travel has been the major driver. Inbound tourism has been offering a major share to the market owing to the growing number of youngsters and middle-aged people in the country who are highly interested in travel and tourist activities. Inbound tourism helped the market to expand further in 2020 when the whole world was under lockdown during the COVID-19 pandemic. Travel & Tourism which is a driver for Online accommodation booking about to cross USD 20 billion in 2022 and 70% of total revenue will be generated through online sales by 2026.
Usage of online travel agencies increasing in many ASEAN countries especially in Singapore and Malaysia, according to a survey by Rakuten Insight on the usage of online travel agencies in Singapore conducted in November 2020, 81% of the respondents stated that their main reason for using an online travel agency is to book accommodation. 73% of Malaysian respondents stated that they have used an online travel agency in 2020. This is because of convenience, offers and discounts. 52% of Indonesian respondents stated that they have used an online travel agency called Traveloka. 51% of the Thai respondents stated that they have used an online travel agency, 69% of these used Agoda.
Technology has been critical in helping Southeast Asians get through the COVID-19 pandemic. 10 years ago, 4 in 5 Southeast Asians had only limited access to the Internet. Today, Southeast Asians are the most engaged Internet users in the world with 90% of them connecting to the internet primarily through their mobile phones. Brunei had the highest rate of internet penetration within the Southeast Asian region, at 104.5 % in 2021 followed by Malaysia with 89%. Timor-Leste had least internet penetration rate of 38.3 %.
The report covers major players operating in ASEAN online accommodation. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and service innovation, domestic to international companies are increasing their market presence by securing new contracts and tapping new markets. It has major players including Agoda, Traveloka, Expedia, Hotels.com and booking.com.
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Covid-19 caused Cross- border travel restrictions in ASEAN countries, the accommodation sector experienced multiple challenges during 2020 and 2021. However it benefitted online accommodation bookings and more people started using it.
The growing interest of tourists in more travel has been the major driver. Inbound tourism has been offering a major share to the market owing to the growing number of youngsters and middle-aged people in the country who are highly interested in travel and tourist activities. Inbound tourism helped the market to expand further in 2020 when the whole world was under lockdown during the COVID-19 pandemic. Travel & Tourism which is a driver for Online accommodation booking about to cross USD 20 billion in 2022 and 70% of total revenue will be generated through online sales by 2026.
Key Market Trends
Rise in Usage of Online Travel Agencies Driving the Market
Usage of online travel agencies increasing in many ASEAN countries especially in Singapore and Malaysia, according to a survey by Rakuten Insight on the usage of online travel agencies in Singapore conducted in November 2020, 81% of the respondents stated that their main reason for using an online travel agency is to book accommodation. 73% of Malaysian respondents stated that they have used an online travel agency in 2020. This is because of convenience, offers and discounts. 52% of Indonesian respondents stated that they have used an online travel agency called Traveloka. 51% of the Thai respondents stated that they have used an online travel agency, 69% of these used Agoda.
Increasing Internet Users in ASEAN Region Boosting the Market
Technology has been critical in helping Southeast Asians get through the COVID-19 pandemic. 10 years ago, 4 in 5 Southeast Asians had only limited access to the Internet. Today, Southeast Asians are the most engaged Internet users in the world with 90% of them connecting to the internet primarily through their mobile phones. Brunei had the highest rate of internet penetration within the Southeast Asian region, at 104.5 % in 2021 followed by Malaysia with 89%. Timor-Leste had least internet penetration rate of 38.3 %.
Competitive Landscape
The report covers major players operating in ASEAN online accommodation. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and service innovation, domestic to international companies are increasing their market presence by securing new contracts and tapping new markets. It has major players including Agoda, Traveloka, Expedia, Hotels.com and booking.com.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS AND INSIGHTS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Agoda
- Traveloka
- Booking.com
- Hotels.com
- Trip.com
- Expedia
- Trivago
- Hotel combined
- Trip advisor
- Goibibo
- Hotelbeds*
Methodology
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