The online travel market is expected to grow 18% in 2022 to $76.7 billion, a figure just shy of 2019 gross bookings, new research from Phocuswright reveals.
OTAs showed welcome recovery in 2021, buoyed by continued strength in domestic travel. After ending 2020 down 58%, U.S. OTA bookings nearly doubled despite the ups and downs of another pandemic year. According to Phocuswright’s latest travel research report on the segment U.S. Online Travel Agency Market Report 2021-2025, OTAs delivered $65.2 billion in gross bookings in 2021, reaching 82% of pre-pandemic levels (2019).