Shift In Travel Trends Drives The Travel Arrangement And Reservation Services Market
The Business Research Companys Travel Arrangement And Reservation Services Market 2021 - Opportunities And Strategies Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 25, 2021 /EINPresswire.com/ -- Rapid shift in travel trends towards leisure and food tourism is expected to be a major driver for travel arrangement and reservation services market. leisure travel refers to the hybrid travel model that includes both business travel and leisure travel. The individuals during their business trips to various countries are preferring to explore the local cuisine, travel locations post completion of their official work. According to the Global Business Travel Association, one in three business travelers will add a leisure component in at least one of their business trips a year. Food tourism is another major trend that is expected to drive the market travel arrangement and reservation services. Food tourism focuses on authentic culinary experiences. Over the last few years, there has been increasing shift towards experiencing local delicacies of specific countries in unique food and beverages activities while travelling in the last two years. Shift in travel trends will drive the market for travel arrangement and reservation services, going forward.
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The global travel arrangement and reservation services market size is expected to grow from $303.59 billion in 2020 to $474.36 billion in 2025 at a rate of 9.3%. The market is then expected to grow at a CAGR of 5.4% from 2025 and reach $618.39 billion in 2030.
Custom-designed Itineraries are travel plans and budgeting suggestion provided by a travel agent or an operator based on the customer needs. The travelers are increasingly preferring custom-designed tours due to increased comfort, privacy, and lack of interest the pre-packaged tours. In December 2018, a survey was conducted by G Adventures, a Canada-based adventure travel company on 450 travel agents to understand their interests and trends.
More than 84% of respondents reported rise in tailor-made travel or private tours. Among US travel agents, 93% of respondents observed a rise in demand for private, customized travel preferences. Tour operators and travel agency companies are increasingly offering curated custom itineraries with consultations from expert to meet the demand. For instance, in March 2019, G Adventure launched TailorMade, a range of custom travel solutions for 11 launch destinations.
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Major players covered in the global travel arrangement and reservation services industry are BCD Group, Booking Holdings, Expedia Group, Trip.com Group, Flight Centre Travel Group (FCTG).
TBRCs global travel arrangement and reservation services market is segmented by type into travel agencies, tour operators, convention and visitors bureaus, other travel arrangement and reservation services, by mode of travel into domestic travel, foreign travel, by mode of booking into online, online.
Travel Arrangement And Reservation Services Market 2021 - By Type (Travel Agencies, Tour Operators, Convention And Visitor Bureaus), By Mode of Travel (Domestic, Foreign), By Mode of Booking (Offline, Online) And By Region, Opportunities And Strategies Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides travel arrangement and reservation services market overview, forecast travel arrangement and reservation services market size and growth for the whole market, travel arrangement and reservation services market segments, and geographies, travel arrangement and reservation services market trends, travel arrangement and reservation services market drivers, travel arrangement and reservation services market restraints, leading competitors revenues, profiles, and market shares.
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