Market Challenges And Opportunities

Increasing mobile usage and innovative mobile apps are the key growth drivers:

Increasing use of mobile devices and social media are providing a new medium for communication. High internet penetration has led to growing use of smartphones and in-turn mobile applications with dedicated websites for trips and travelling such as MakeMyTrip Limited, trivago N.V. Airbnb, Google trips, TripAdvisor, Uber, and others. Easy navigation feature in mobile applications is also one of the key factors behind increasing use of these applications. Furthermore, travel app offers high flexibility to customers and provides an easy medium to stay connected with the services providers.

Various payment applications are launched with special safe and secured feature for online travel applications. Previously, options for payments for travelers were limited to credit or debit card for online payments, however payment options such as PayPal, MobilePay, RuPay, PayU, Stripe, and others have emerged in the recent past. For bookings on e-commerce websites, e-wallets remain preferred payment method, which has increased the number of bank transition for online travel booking.

Online Travel Market Report Snapshots