The company’s latest report, “Travel Forward: Data, Insights and Trends for 2025” offers a comprehensive look into the future of the global travel market, which is currently valued at $1.61 trillion
Jan 15, 2025
The report forecasts continued growth in the global travel market through 2026, with annual growth of 6-9%. Online bookings are expected to grow at an even faster rate, with annual growth of 8-12%. Gross bookings are projected to increase from $1.6 trillion in 2024 to $1.72 trillion in 2025, indicating steady, albeit slower, growth as the market matures.
Key takeaways
- Gross online bookings are estimated to reach $1.0 trillion in 2024 and $1.2 trillion in 2026. By that time, nearly 65% of all global travel bookings will be made online. The report attributes this shift to growing consumer demand for digital travel convenience and efficiency;
- Airline revenue growth is expected to slow to 10% in 2024 due to increased capacity and lower airfares, with further deceleration to single-digit growth in subsequent years. For hotels, global online gross bookings are forecast to account for 55% of the market in 2024, rising to 58% in 2026;
- Regionally, North America is expected to remain the largest contributor to gross bookings, increasing from $543.8 billion in 2024 to $568.5 billion in 2025. In addition, the United Kingdom is projected to surpass France in gross bookings in 2025, marking its return to the top five markets for the first time since the COVID-19 pandemic;
- The report also highlights trends in consumer behavior. Travelers express more confidence in booking accommodations in the next 12 months, but are less certain about transportation plans due to concerns about cost and discretionary spending. Most European travelers intend to take leisure trips within the year, with a significant number planning international travel.
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