5 things to know about the UK travel market in 2024 and beyond
The UK travel market experienced strong growth in 2023, with total bookings increasing by 19%, driven by online bookings, mobile transactions, and strong expansion in key sectors such as airlines and car rental.
According to Phocuswright’s research report ‘UK Travel Market Report 2023-2027’, online bookings continued to surge, highlighting the further shift towards digital platforms and the UK’s high online penetration rate.
The aviation sector performed particularly well, contributing significantly to the overall market performance. While challenges such as inflation continue to impact on the health of the market, the industry remains on a positive trajectory, with modest growth forecast and technological advances shaping the future of UK travel by 2027. will form.
Here are five things to know about the UK travel market in 2024 and beyond.
With further double-digit booking growth expected in 2024, mobile booking revenue plays a key role in the UK online travel market. The UK aviation sector accounted for 56% of suppliers’ total bookings in 2023, and the airline is expected to maintain its dominant position until his 2027. Net zero starts with jet zero. The Net Zero Strategy outlines the measures needed to enable the UK to: A key pillar of the strategy is for the UK to become a world leader in the development, production and use of sustainable aviation fuels. The UK Government has ambitious plans to modernize its railways, including both the electrification of routes and the digitalization of ticket sales. Railways also play a key role in the government’s net zero initiative, which aims to reduce carbon emissions to zero by 2050. Traditional travel agencies in the UK have proven resilient, with many brick-and-mortar agencies reopening and helping the UK shoulder the burden of pandemic-related losses. Behind it is digital distribution.
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