The UK Holiday Planning and Booking Process Market Report identifies consumers’ intentions to book holidays, purchase drivers when choosing a travel company, and the impact of inflation on the UK travel industry. This report covers the online travel booking market size, market forecast, market segmentation and travel booking trends.
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Following two years of missed opportunities to travel, consumers are clearly prioritising holidays. The relaxation of restrictions has led to sharp growth in the UK travel industry, particularly for bookings for overseas holidays. Meanwhile, staycations remain a popular choice given the rising cost of living and consumers’ reluctance to travel abroad due to a potential emergence of vaccine-resistant COVID-19 variants that still poses a threat to the UK travel industry.
Rising inflation will impact the recovery of the travel booking market as many travellers will change their holidaying habits, for instance, by going away less often or downgrading to cheaper options. Brands in the online travel booking market that target less affluent travellers should help these consumers mitigate the impact of rising prices and stick to a budget. At the same time, brands targeting the premium sector or offering package holidays need to demonstrate their products’ quality to prove they are worth paying for.
AI-powered technology is making advances in the online travel booking market as brands try to make their search technology more flexible and their content more personalised. The next stage will see more brands offering new types of online experiences powered by AR and VR, such as offering 360-degree virtual accommodation tours.
Domestic destinations are expected to build on the growth achieved during the pandemic. Meanwhile, overseas destinations will again be a big draw due to Brits’ desire to enjoy hotter climates and discover new places and cultures. However, innovations around sustainability are essential to produce future growth in the online booking market.
To discover more about UK Holiday Planning and Booking Process Market Report 2022, read our UK Holiday Review Market Report 2022, or take a look at our extensive Holidays and Travel Market Research.
Products: Domestic and overseas holidays.
Brands: Booking.com, Airbnb, eDreams, RIU Hotels & Resorts, Luxtrippers, Kuoni, InterLnkd, Nok Air, Bizverse, Jet2.com, Expedia, TUI, British Airways, Imagine Group, Whitbread Hotel Company, Hotels.com, Reader Offers, P&O Cruises, Saga Holidays, Kayak.com, Hurtigruten, On the Beach, Easy Jet, Tripadvisor, TikTok.
This report, written by Marloes de Vries, a leading analyst in the UK Travel Industry, delivers in-depth commentary and analysis to highlight current trends in the online travel booking market and add expert context to the numbers.
Over the past year, several brands have used AI-powered technology to make their search technology more flexible and their content more personalised. Since ease of booking has a major impact on consumers’ decisions, these brands will be more likely to have higher conversion rates. The next stage will see more brands offering new types of online experiences, powered by AR and VR.”
Marloes de Vries
Associate Director – Travel
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