The Latin America, Middle East and Africa (LAMEA) Online Travel Bookings Market is expected to register a CAGR of 13.1% during the forecast period (2017 – 2023), according to industry intelligence solution provider Reportbuyer’s recent report on the region.
Online travel providers seek to make the process of travel planning and bookings simple and easy for customers. The online travel market is majorly driven by factors such as quick and convenient flight and hotel bookings, safer online payment methods, availability of multiple choices and comparison options. Leading players in the market are focused on offering travel services through different platforms such as mobile websites and apps to attract a young and professional crowd.
Technological changes and rapid adoption of technology into mainline businesses has almost completely changed the way communications and travel are perceived. Technological evolution and rapid uptake of mobile phones have contributed to the demand for efficient and easy methods of connectivity among businesses and consumers. Growing disposable income, growth in middle-class segment, superior level of Internet access, and significant rise in the youth population has contributed to the growth in the region
Key companies profiled in the report include Expedia, Inc., Priceline Group Inc., TripAdvisor LLC, MakeMytrip Limited, Hostelworld Group, Thomas Cook Group Plc., Fareportal (Cheapoair.Com), Airbnb, Inc., and Ctrip.Com International, Ltd.
The full report is ready to be downloaded at the official website of Reportbuyer.