Gross Bookings Rebound to $1.6T, Digital Bookings Take Over

Phocuswright has released the Global Travel Market Report 2025, which reveals that the industry has fully recovered and is now entering a phase of steady, technology-driven growth.

In 2024, gross bookings reached $1.6 trillion, marking a complete rebound from pandemic-era declines.

Digital transformation continues to accelerate, with online bookings growing 9 percent in 2024. By 2027, nearly two-thirds of all travel reservations are expected to be made digitally.

Among global regions, North America remains the largest market with $539 billion in gross bookings in 2024, followed by the Asia Pacific and Europe, while the Middle East and Latin America stand out as fast-growing regions.

Europe’s intra-regional travel has proven resilient, and the UK has re-emerged as one of the top global booking hubs.

Overall, the gross bookings are projected to exceed $1.8 trillion by 2027, driven by strong demand and digital innovation. Consumers are increasingly preferring digital convenience, prompting travel companies to enhance their online platforms and services.

For example, in October 2025 alone, Booking.com launched AI agents for guest support; Kayak rolled out AI Mode powered by ChatGPT; and Sabre introduced new agentic APIs, powered by its proprietary Model Context Protocol (MCP) server.

Also recently, OpenAI’s new web browser, ChatGPT Atlas, launched with an Agent Mode that helps users research, book, and manage trips. The browser can compare prices, filter travel options, and even handle post-booking changes, offering real-time guidance throughout travel planning.

Photo by Jakub Żerdzicki on Unsplash