Business prospects and growth of travel booking app
The travel booking app is an integrated platform with nearly everything related to traveling, starting from rides like buses, flights, and trains to hotels. It is a straightforward app so that users can select the required service from the list available. Users can choose the restaurants and hotels based on their reviews and photos uploaded by other customers.
These are the market prospects for the Travel & tourism industry. It generates substantial revenue, so it will be useful to build a travel app for it. Researchers say that more than 50 % of the travel booking is going to be online.
Revenue in the Travel & Tourism market amounts to US$396,370m in 2020.
Revenue is expected to show an annual growth rate (CAGR 2020-2023) of 22.5%, resulting in a market volume of US$728,892m by 2023.
The market's largest segment is Hotels, with a market volume of US$210,915m in 2020.
In global comparison, most revenue is generated in the United States (US$91,263m in 2020).
Travel booking app development has three separate apps for the convenience of its users. These are users, admin, and travel agents apps. Let's look at the stages involved in the development of travel booking apps
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