Rising online sales have significantly impacted the sales of travel intermediaries offline, particularly travel agencies. One of the main challenges is that offline prices, especially for flights, are often higher than those found on online platforms, largely due to discrepancies in pricing models with airlines. This price gap also applies to hotels bookings, prompting many consumers to favour online channels where they can access better deals. Since cost is a key factor for most travellers, thi

Retail value sales of booking rose strongly in 2025, supported by rising confidence in travel planning and a consumer shift towards structured itineraries over spontaneous, last-minute trips. Travellers increasingly sought flexibility in booking conditions, but reliability also became more important in light of fluctuating prices, shifting visa rules, and continued cost-of-living pressures.

In 2025, booking in Italy witnessed a significant surge in sales, which rose by 9% in current retail value terms to reach EUR74.2 billion. A high proportion of these sales (58%) comprises travel intermediaries, specifically internet transactions, as increasingly consumers sought convenience and potential cost savings. The strong performance of booking was driven by growth in both leisure and business travel, as well as a growing demand for professional advice and services when selecting and book

Retail value sales of booking rose in 2025, reflecting the Portuguese consumer’s continued prioritisation of travel and experiences over material consumption. Travellers increasingly favour personalised itineraries, immersive activities, and distinctive destinations, a trend that is stimulating demand for tailored products and differentiated offers. Rising travel costs have further encouraged early booking behaviour, enabling consumers to secure more competitive prices and plan more elaborate tr

Retail value sales of booking are set to grow strongly in current terms in Vietnam in 2025 thanks to rising travel demand from both international and domestic tourists. More foreign visitors are visiting Vietnam due to more relaxed visa rules and better promotion of the country’s attractions. Meanwhile, improved incomes and better transport infrastructure, such as roads and airports, have encouraged more Vietnamese people to travel. The rise of TikTok travel content, especially food tours and ex

Retail value sales of booking rose in 2025, supported by the strong momentum of online channels. The year was marked by a pronounced shift towards digital booking, reflecting broader global trends in consumer behaviour and the ongoing transformation of Morocco’s travel industry. Online platforms gained further ground as travellers sought convenience, competitive pricing, and wider choice. The availability of mobile apps, integrated payment solutions, and real-time comparisons made online channel

Growth in booking current value sales in Sweden in 2025 is expected to be slower than in 2024. This is primarily because the surge in travel that accompanied the easing of the pandemic has now receded, though the downturn also reflects more cautious attitudes to discretionary spending resulting from elevated cost-of-living concerns and ongoing economic uncertainty. The category is still set to perform solidly on the whole, however, as falling inflation has helped to boost confidence and disposab

In 2025, booking sales rose by 5% in Spain in retail current value terms to EUR60.0 billion, marking another year of growth. Despite prevailing economic uncertainty and reduced savings, Spaniards continued to show a robust appetite for travel. Beach and sun holidays remained the preferred choice, although active holidays were gaining increasing popularity.

Although consumer spending is under pressure in 2025, the outlook for UK travel intermediaries remains positive. Domestic tourism, which relies more heavily on direct bookings, is stagnant, but the strong increase in outbound travel is supporting intermediaries. British consumers are willing to allocate more of their budgets to international trips, but they are also becoming more careful in seeking out value for money. This behaviour benefits intermediaries, which allow travellers to compare and

Retail value sales of booking are set to rise in current terms in the US in 2025, but the category is undergoing a transformation which threatens growth as it has been seen historically. The biggest disruption is not coming from a new online travel agency (OTA), a price war, or a loyalty programme – it is coming from generative AI. Travellers are increasingly turning to tools like ChatGPT and Gemini to plan trips, raising existential questions about the future role of OTAs. There is a race betwe

Sales of booking in Brazil are recording strong value growth in 2025. This is largely driven by the expansion of the Brazilian air network, which is increasing connectivity between both traditional and less mainstream domestic and international destinations. Demand for domestic and regional tourism has also risen, particularly as travellers seek cheaper alternatives to the more expensive long-haul trips to Europe and the US.

South Korea’s booking market has experienced solid growth in 2025 with this being driven by the recovery of both outbound and domestic travel demand. Despite inflationary and cost of living pressures consumers have continued to travel. Instead, of abandoning their travel plans they have adjusted their behaviours and displayed increased budget consciousness. This has resulted in a clear polarisation in consumer behaviour. Some travellers have focused on price-efficiency, relying on mobile-exclusi

Retail value sales of booking recorded double-digit growth in Argentina in 2025, reflecting a strong performance by travel intermediaries. This positive trend was largely attributed to an increasing number of tourists travelling abroad.

Retail current value sales of booking in Austria are projected to increase over 2025, albeit at a slower rate than in 2024. Booking easily exceeded the 2019 pre-Coronavirus (COVID-19) pandemic level of retail current value sales by 2023, as prices for all types of pipelines rose very significantly, especially during the particularly high inflation years of 2022 and 2023. During the pandemic, with all the uncertainties and risks associated with travel at the time, the leading travel agencies noti

Retail value sales of booking in Greece rose in 2025. Growth was underpinned by a combination of strong demand for travel and rising prices across the sector, including higher airfares, accommodation rates, and the cost of package holidays. These increases elevated the overall value of bookings, even as some consumers became more cautious in their spending. At the same time, a notable polarisation emerged, with a growing share of travellers trading up for premium experiences. Demand is rising fo

Retail value sales of booking in the Netherlands rose in 2025, supported by robust demand for leisure and business travel, even as consumers remained highly price-conscious. Dutch travellers actively sought promotions and discounts, but overall spending per trip still increased as higher airfares and accommodation costs outweighed savings. Disposable incomes were generally strong enough to absorb these additional costs, with many households reallocating budgets from other purchases to fund holid

In 2025, booking is expected to register positive value growth, as Norwegians continue to actively book trips abroad, despite global economic challenges, partly arising from Trump’s tariffs. However, at the same time, price-sensitive travellers are adjusting by shortening their vacations or choosing more affordable destinations. Retail value sales through travel intermediaries is expected to register the highest value growth.

While booking sales have seen growth in 2024 and 2025, inflationary pressure has eroded real growth. Although many travel agencies have seen an increase in nominal revenues, this positive performance has not necessarily translated into real business growth. Rising operational costs, and an increase in the price of tour packages, airline tickets, and related services have reduced profit margins. Increases in transportation, lodging, and food prices have also pushed internal costs upward, forcing

Retail value sales of bookings in Ecuador are expected to rise significantly in 2025, in line with the ongoing recovery of the tourism industry. This resurgence comes after a particularly difficult 2024, when the market experienced a steep decline in tourist numbers, due to a combination of frequent power outages, political instability, safety concerns, and broader economic uncertainty.

Retail value sales of booking rose in 2025 at a similar level to the previous year due to price increases and as travel and travel-related activities are important for many Finnish consumers, who often allocate money saved from other areas to fund their trips. Booking is a versatile category; while some areas may show slower growth, others can be more dynamic, balancing overall performance.

Booking sales in Denmark are set to increase in current value terms in 2025, driven by stronger outbound travel and rising average prices. Domestic tourism has also grown, albeit to a lesser extent, due to both competition from international travel and a softening of consumer confidence, leading some households to either hold back on spending or prioritise cost savings.

Booking activity is set to show solid growth in current value terms in the United Arab Emirates in 2025. Increased travel demand from core international source markets like India, Russia, the UK, and China has led to a surge in advanced bookings, especially for family and leisure travel. Meanwhile, outbound travellers from the United Arab Emirates have resumed international trips in greater numbers, encouraged by promotional flight and accommodation bundles from major online platforms.

Travel in Germany rebounded well in the post-pandemic years, with 2024 surpassing pre-COVID levels. In 2025, rising prices have created challenges for the travel industry leading to shifts in consumer travel patterns. Economic uncertainty and a general cautiousness is being felt across Germany with consumers re-allocating expenditure to accommodate their needs and budgets. Despite economic concerns, travel remained a top priority for consumers in Germany and saving for future trips was a key pri

Retail value sales of bookings in Canada is set to increase in 2025, with both leisure and business travel continuing to perform strongly. However, leisure travel remains the dominant segment, accounting for over 80% of total booking sales. Canadian travellers are increasingly motivated by nature, global exploration, and culturally rich experiences, both domestically and internationally. Canada’s renowned biodiversity and stunning natural landscapes continue to attract strong interest. According