Global Travel Arrangement And Reservation Services Market Report 2022 – Market Forecast, Trends And Strategies

The global travel arrangement and reservation services market size is expected to grow from $266.34 billion in 2021 to $321.88 billion in 2022 at a compound annual growth rate (CAGR) of 20.9%. The growth in the market 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 travel arrangement and reservation services market is expected to reach $630.38 billion in 2026 at a CAGR of 18.3%.

What is the Global Travel Arrangement And Reservation Services Market?

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.

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What drives 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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Global Travel Arrangement And Reservation Services Market Segments
The global travel arrangement and reservation services market is segmented:
By Type: Travel Agencies, Tour Operators, Convention and Visitors Bureaus, Other Travel Arrangement and Reservation Services
By Mode of Travel: Domestic Travel, Foreign Travel
By Mode of Booking: Online, Online
By Geography: The regions covered in the travel arrangement and reservation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Travel Arrangement And Reservation Services Global Market Report 2022provides market size and growth forecasts for the global travel arrangement and reservation services market, global travel arrangement and reservation services market share, travel arrangement and reservation services market segments and geographies, travel arrangement and reservation services market competitive landscape including leading competitors’ revenues, profiles and market shares. The travel arrangement and reservation services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Travel Arrangement And Reservation Services Industry Playersinclude BCD Travel, Travel Leaders Group, TUI Group, Booking Holdings, Expedia, CWT, Flight Centre Travel Group, TUI Airways, Tripadvisor, Inc. and Shanghai Jin Jiang International Hotels (Group) Company Limited. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.