Global Travel Arrangement And Reservation Services Market Report 2021 (Travel & Tickets - Tickets)

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Global Travel Arrangement And Reservation Services Market Report 2021


Bharat Book Bureau Provides the Trending Market Research Report on “Travel Arrangement And Reservation Services Global Market Report 2021 ”under Business Services Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.

Travel Arrangement And Reservation Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global travel arrangement and reservation services market as it emerges from the Covid 19 shut down.

Description:
Where is the largest and fastest growing market for the travel arrangement and reservation services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Travel Arrangement And Reservation Services market global report from the Business Research Company answers all these questions and many more.

The 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. It places the market within the context of the wider travel arrangement and reservation services market, and compares it with other markets.

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The global travel arrangement and reservation services market is expected to grow from $303.59 billion in 2020 to $370.1 billion in 2021 at a compound annual growth rate (CAGR) of 21.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $474.36 billion in 2025 at a CAGR of 6%.

The travel arrangement and reservation services market consists of sales of travel arrangement and reservation services and related goods by entities (organizations, sole traders and partnerships) that provide travel agency services, arrange and assemble tours or provide other travel arrangement and reservation services. The travel arrangement and reservation services market is segmented into travel agencies; tour operators; convention and visitors bureaus; and other travel arrangement and reservation services.

Western Europe was the largest region in the global travel arrangement and reservation services market, accounting for 49% of the market in 2020. Asia Pacific was the second largest region accounting for 21% of the global travel arrangement and reservation services market. Africa was the smallest region in the global travel arrangement and reservation services market.

Travel agencies and tour operators are increasingly using chat bots to offer personalized travel bookings to customers. A chat bot is an artificial intelligence program that can simulate a conversation with customers through messages or telephone calls and perform tasks such as ticket bookings and hotel reservations. Chat bots are an alternative to mobile applications and websites that provide personalized recommendations and bookings based on travel preferences and date of travel. For instance, Booking.com allows travellers to book flights and hotels through chat bots on Skype, Facebook Messenger and Slack. Other such chat bots include Dorothy, DoNotPay, Expedia and Air New Zealand’s Oscar.

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Last Update : Feb 19, 2021 3:56 AM
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