Travel Tech is the only organization advocating on behalf of travel tech companies to create a more transparent, competitive, and innovative global travel marketplace. As part of this powerful collective, our member companies are strengthened by our ability to influence critical public policy decisions that affect the future of the industry.
Gross revenue for the U.S. travel sector fell 61% to just $156 billion in 2020 as the COVID-19 pandemic impacted the sector. However, a rapid recovery is underway, and gross revenue is expected to grow to $289 billion in 2022 with a full recovery expected by 2025.
Online travel intermediaries, including online travel agencies (OTAs), metasearch services and travel management companies (TMCs) (supported mainly by GDS technology) represent a significant source of indirect business for most travel suppliers, and delivered over one third of overall industry gross revenue in 2020.
Indirect distribution, at $182 billion, accounted for just over 45% of the total travel sector in 2019, falling to 36% in 2020 as consumers turned to direct channels during the pandemic. However, indirect channel distribution is expected to return to pre-pandemic levels by 2024.
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In addition to the latest about Travel Tech and its advocacy efforts, the Passport Newsletter includes a news digest of the top stories at the intersection of travel, technology, and public policy.