Online travel faces generational shifts in demographics & tech

As a new decade dawned in January 2020, the online travel industry found itself at an inflection point. Major demographic trends, combined with new and emerging technologies, seemed poised to unleash a historic wave of new demand.

Growing numbers of people were joining the middle class and looking for ways to spend their leisure time. Together, the projected online bookings added up to a $2 trillion opportunity — roughly equal to quadruple the size of the current smartphone market..

We all know what happened next: the emergence of COVID-19, a rising global death toll, and a worldwide recession. Yet lessons from past pandemics teach us that the travel industry will adapt and eventually regain its lost momentum. The online travel trends outlined in this report are likely to play a key role in shaping how travel is selected, booked, and paid for during the coming decade of recovery.