$1.2T in online bookings by end of 2026

It’s gearing up to be a slow climb to new heights in 2025.

Travel’s global gross bookings are expected to increase from $1.6 trillion in 2024 to $1.72 trillion in 2025, marking a steady, but slower growth rate as the market matures.

And with the increasing adoption of online booking platforms, online gross bookings are estimated to reach $1.0 trillion in 2024 and climb to $1.2 trillion by 2026. By that time, nearly 65% of global travel gross bookings will be made online.

In the U.S., travelers chose to stay closer to home in 2024 compared to 2023, cautiously monitoring cost and discretionary spending in the upcoming year. In contrast, more European travelers are looking to explore internationally.

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Here are 10 more insights that should be on your radar in 2025

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The consistent rise in bookings in all areas, and across regions, highlights a growing consumer preference for online travel services. This trend reflects a continuing shift toward digital platforms, encouraging travel providers to improve their online booking experiences to remain competitive.

You can now access the most critical insights and data to understand trends and growth

Phocuswright's Travel Forward: Data, Insights and Trends for 2025 provides broadscale insights into the $1.61 trillion global travel market, offering essential data for understanding industry trends and growth.

Featuring forward-looking key highlights by segment, channel, consumer behavior metrics, and more, this report equips industry stakeholders with the key metrics and trends needed to navigate the evolving travel landscape. Including:

• Market Sizing and Trends: Global, Airline, Regional, Hotel, Leading Markets, Short-Term Rental
• Consumer Behavior and Social Media in Travel
• Technology Transforming Travel
• Sustainability in Travel
• Travel Payments
• State of Travel Funding