10 things you did not know about the Travel Tech industry

We think technology will become ever more crucial throughout the travel industry, with online sales in the sector growing fast and expected to hit $762bn by 2019. In the UK alone, three-quarters of internet users booked a holiday digitally last year. And while many bookings are still made offline, travellers will still frequently have used digital tools to inform their purchases.

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Travel Tech Fact Sources

1 – Digital travel sales are forecast to reach $818bn by 2020, says Statista

2 – 76% of UK holidaymakers booked a holiday online during 2016 according to ABTA

3 – Some 200 travel tech businesses attracted $2.5bn of funding during 2016 according to CBInsights

4 – The two largest online travel agents, Expedia ($61bn) and Priceline ($55bn), racked up $116bn of sales between them during 2016, says Travel Weekly

5 – TripAdvisor user numbers have now reached 390 million

6 – 59% of accommodation owners have plans to invest in online reputation management

7 – 58% of travel industry businesses will raise their spend on technology in 2017 according to Travel Technology Europe

8 – 73% of UK business travellers are under the age of 45 says the GTMC

9 – 52% of travellers use apps in destinations, to find things to do, places to eat and to navigate

10 – The travel tech sector now includes 15 “unicorns” – start-ups valued at $1bn or more – according to Skift