New York, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Travel Arrangement And Reservation Services Global Market Report 2022" - https://www.reportlinker.com/p06229752/?utm_source=GNW
and Shanghai Jin Jiang International Hotels (Group) Company Limited.
The global travel arrangement and reservation services market 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 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 $630.38 billion in 2026 at a CAGR of 18.3%.
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 main types of travel arrangement and reservation services are travel agencies, tour operators, convention and visitors bureaus, other travel arrangement and reservation services.A travel agency is a company that sells and arranges transportation, lodging, tours, and itineraries for tourists.
The different modes of travel include domestic travel, foreign travel and has various booking modes such as online, offline.
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.
Western Europe was the largest region in the travel arrangement and reservation services market in 2021.Asia Pacific was the second-largest region in the travel arrangement and reservation services market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the travel arrangement and reservation services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06229752/?utm_source=GNW
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