Online travel market scale SEA 2024, by country
In 2024, the online travel market size in Singapore was the highest in selected Southeast Asian countries, of which the gross merchandise value (GMV) reached 12 billion U.S. dollars. Comparatively, for the same year, the Philippines had an online travel market size value of three billion U.S. dollars.
Online travel in the Asia-Pacific region
Thanks to the growing middle class and the development of tourism infrastructure, the value of the travel market in the Asia-Pacific region has increased in recent years. For instance, the transaction volume of the online travel booking market in China experienced rapid growth until the COVID-19 pandemic slowdown and is estimated to be on its way to recovering to its pre-pandemic levels in the coming years. Besides being a leading online travel market in the Asia-Pacific region, Singapore also had a high share of consumers who had used online travel agencies (OTAs) in Asia.
OTAs and tourism in the Asia-Pacific region
The Asia-Pacific region has become an important travel destination for tourists worldwide. The number of international tourist arrivals in the Asia-Pacific region has steadily risen over the past decade. OTAs have played a crucial role in facilitating tourism growth in the region, making it easier for travelers to discover and access new destinations. Convenience and ease of use were the main reasons for using OTAs in India. The most used online travel agencies in Asia were Agoda and Booking.com.
