By 2026, Online Reservations Will Account for 65% of Travel Bookings

According to new research from Phocuswright, the global travel market has rebounded significantly, surpassing pre-pandemic levels with a 24% increase in gross bookings in 2023, reaching a total spend of $1.5 trillion. The industry is projected to grow between 6-10% annually through 2026. (Note: Phocuswright and TravelAge West are both owned by Northstar Travel Group.)