Electronic (E) Tourism Market Report 2024

This Electronic (E) Tourism industry report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The electronic (E) tourism market size has grown rapidly in recent years. It will grow from $1.04 trillion in 2023 to $1.14 trillion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth during the historic period can be attributed to several factors, increased Internet accessibility, the rise of mobile technology, the expansion of social media platforms, the proliferation of online booking platforms, consumer preference for convenience, enhanced partnerships between airlines and hotels, the development of travel review sites, competitive pricing strategies, and the overall growth of the global tourism industry.

The electronic (E) tourism market size is expected to see rapid growth in the next few years. It will grow to $1.7 trillion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The anticipated growth during the forecast period can be attributed to several factors, the expansion of personalized travel experiences, growth in mobile app bookings, increasing adoption of blockchain technology, a focus on sustainable tourism, advancements in digital marketing strategies, and the rise of virtual tourism experiences. Major trends expected to shape this period include contactless payments, eco-friendly travel options, the use of AI chatbots for customer service, personalization of travel offers through big data, smart tourism technologies, blockchain for secure transactions, remote work travel packages, and enhanced customer experiences driven by AI insights.

The increasing interest in heritage travel is anticipated to drive growth in the electronic (E) tourism market. Heritage travel involves visiting historical and cultural sites to explore and appreciate a region's history, traditions, and architectural legacy. This rising interest is fueled by a desire for authentic experiences that connect travelers with historical and cultural contexts. E-tourism enhances heritage travel by offering online access to information, virtual tours, booking services, and reviews of historical and cultural sites. For example, a survey conducted in November 2023 by the Department for Digital, Culture, Media, and Sport, a UK-based government agency, found that 67% of adults had visited a heritage site in person in the past year, an increase from 63% in 2021/2022. Additionally, digital engagement with heritage sites grew by 2%, reaching 18% compared to 16% in the previous period. Thus, the growing interest in heritage travel is contributing to the expansion of the electronic (E) tourism market.

Key players in the electronic (E) tourism market are increasingly focusing on personalized recommendation solutions, such as artificial intelligence (AI)-based trip planners, to boost customer engagement and increase bookings. AI-based trip planners use artificial intelligence to create customized travel itineraries, enhancing user satisfaction and boosting booking rates. For instance, in June 2023, Booking.com, a Netherlands-based online travel agency, introduced its AI Trip Planner. This new feature, integrated into the app, utilizes AI and large language model technology to offer a conversational and personalized travel planning experience. Users can receive tailored travel recommendations, explore destinations, and book accommodations seamlessly through an interactive chat interface.

In March 2022, Despegar.com Corporation, an Argentina-based online travel company, acquired TVLX Viagens e Turismo S.A. (Viajanet) for approximately $15 million. This acquisition enables Despegar to utilize Viajanet's customer base to promote higher-margin travel products, such as accommodations. The integration is expected to improve Viajanet's conversion rates and marketing capabilities through Despegar's technology platform. TVLX Viagens e Turismo S.A. (Viajanet) is a Brazil-based online travel agency offering e-tourism services.

Major companies operating in the electronic (E) tourism market are Booking Holdings Inc., Expedia Group, Airbnb Inc., Amadeus IT Group, Trip.com Group, Vacation Rentals by Owner (Vrbo), Agoda Company Pte. Ltd., TripAdvisor Inc., Orbitz Worldwide Inc., Trivago N.V., MakeMyTrip Limited, Viator Inc., Lastminute.com Group, Hotels.com L.P., MakeMyTrip Limited, Skyscanner Limited, Hopper Inc., Travelocity.com Inc., GetYourGuide GmbH, Klook Travel Technology Limited, Hotwire Inc., Sygic a.s., Travel Leaders Group LLC, Yatra Online Inc, Musement.

North America was the largest region in the electronic (E) tourism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic (E) tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the electronic (E) tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Electronic (E) tourism refers to the use of digital technologies and the internet to enhance and streamline the travel and tourism experience. E-tourism facilitates the travel planning process, offering travelers more information and options to make informed decisions.

The main types of systems in electronic tourism include computer reservation systems, property management systems, social networks, and global distribution systems. Computer reservation systems are software platforms used by travel agents and service providers to manage and book travel services such as flights, hotels, and car rentals. Booking behaviors encompass spontaneous travelers, meticulous planners, and tech-reliant travelers, while travel styles include adventure seekers, luxury travelers, cultural enthusiasts, and business travelers. Applications of e-tourism span across the hospitality industry, aerospace, and medical industries.

The electronic (E) tourism market research report is one of a series of new reports that provides electronic (E) tourism market statistics, including electronic (E) tourism industry global market size, regional shares, competitors with an electronic (E) tourism market share, detailed electronic (E) tourism market segments, market trends and opportunities, and any further data you may need to thrive in the electronic (E) tourism industry. This electronic (E) tourism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electronic (E) tourism market consists of revenues earned by entities by providing services such as personalized recommendations, loyalty programs, virtual and augmented reality experiences, virtual tours, AR navigation, and itinerary management. The market value includes the value of related goods sold by the service provider or included within the service offering. The electronic (E) tourism market also includes sales of flight booking platforms, travel packages, customized travel packages, tour packages. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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