Maturing online travel agencies (OTA) and mobile payment apps around the world are changing the travel industry. Consumers are increasingly booking online thanks to improved mobile app experiences and low prices. This year digital travel sales worldwide will increase 10.4% to $694.41 billion.
Nowhere is the shift from offline to online booking more pronounced than in China. Digital travel sales in China will total $133.90 billion in 2018, a 20.5% increase over 2017.
Growth in China is expected to be so rapid that the country will nearly catch up to the US in sales by the end of the forecast period. Between 2017 and 2022, China’s growth rate will more than triple that of the US each year. The US will still grow steadily and generate more than $200 billion in annual sales through the end of the forecast period. However, growth is slowing due to the maturity of the digital travel market.