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Search Within Report
What you need to know
With travel continuing to be popular, the travel arrangement and reservations industry hit nearly $56 billion in revenue in 2019. Travel is an important component of leisure spending and is forecast for further growth; however, aggregators that facilitate search and booking are seeing a lot of competition from direct providers and metasearch engines, which will likely dampen revenues for OTAs in the future. Booking habits are changing, most notably in that booking lead times are getting shorter, and OTAs appear to have been slower than direct booking competitors in addressing these changes.