Online Travel Agency (OTA) Market Industry
The global Online Travel Agency (OTA) market is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2026. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
The report also tracks the latest market dynamics, such as driving factors, restraining factors, and industry news like mergers, acquisitions, and investments. Global Online Travel Agency (OTA) Market Size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
- Under COVID-19 Outbreak, how the Online Travel Agency (OTA) Industry will develop is also analyzed in detail in Chapter 1.7 of the report.
- In Chapter 2.4, we analyzed industry trends in the context of COVID-19 for the Online Travel Agency (OTA) Market.
- In Chapter 3.5, we analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets for the Online Travel Agency (OTA) Market.
- In Chapters 6 to 10 of the report, we analyze the impact of COVID-1 9 on various regions and major countries on the Online Travel Agency (OTA) Market.
- In chapter 13.5, the impact of COVID-19 on the future development of the industry is pointed out.
Online Travel Agency (OTA) Market Industry Bangladesh
Today OTAs are not only providing ticket booking services but hotel booking, visa processing, and other relevant services as well. According to a prediction made in 2019, the market share of OTAs is supposed to be over 45% by 2025. With a gross merchandise value of $1,820 million in 2019, the air market of Bangladesh had an average daily ticket booking of 31,240, 8% of which was occupied by OTAs.
The travel agency business has been around forever but the digitization of the travel business is a relatively recent phenomenon. Over the past years, we have seen a handful of OTAs start operations in Dhaka. The total number of OTAs, of all sizes, is now somewhere north of 50 in the country. According to industry insiders, OTAs now control about 4-6% of the total travel market in Bangladesh.
OTAs to play a vital role in Bangladesh travel market: Experts
Experts on Tuesday noted that keeping pace with the development of technology and global trend, the Bangladesh travel market is expected to experience exponential growth in online management of customers’ travel needs.
However, they opined that this new phenomenon, Online Travel Agencies (OTAs), need policy support and strict monitoring from the government for its proper and healthy growth, said a press release.
In a recent interview with Future Startup, we asked Airways Office CEO and Travelzoo Bangladesh Ltd. MD Luthfe Ali about his take on the future of OTA business in Bangladesh, here is what he has to say.
Future Startup: How do you see the OTA market in Bangladesh now? What’s your take on the competition?
Airways Office CEO and Travelzoo Bangladesh Ltd. MD Luthfe Ali: zooFamily started as a small operation with 2 travel agencies and 1 IT firm called zooIT. When we started in Dhaka, OTA was not a thing yet. Our goal initially was very small – in the first month, our goal was to sell one lakh taka worth of tickets. That was our goal. Fortunately and to our surprise, we outgrew that ambition from day one. That trend has continued since.