> For the complete documentation index, see [llms.txt](https://david-oh.gitbook.io/insta-land/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://david-oh.gitbook.io/insta-land/market/1.-travel-market-analysis.md).

# 1. Travel market analysis

## 1) Global tourism market trends

According to estimates based on the revenue of global tourism industries, the market size of the industry was approximately $143.7 billion (about 1,650 trillion won) in 2011, which increased by about 17.74% to $169.2 billion (about 1,940 trillion won) in 2019 (IBISWorld2, 2020). However, due to the outbreak of COVID-19 in 2020, the market size decreased sharply by 8.90% from the previous year to approximately $154.1 billion (about 1,770 trillion won).

The market size for 2021 is expected to be approximately $170.2 billion (about 1,950 trillion won), reflecting a growth rate of 10.43% compared to the year before, as the tourism industry is expected to rebound from the impact of the COVID-19 pandemic.

Over the past decade from 2011 to 2020, the tourism industry has shown an average growth rate of 0.90%, but excluding the impact of the COVID-19 pandemic, an average growth rate of 2.12% can be observed from 2011 to 2019. Despite the pandemic's negative impact, the tourism industry has shown resilience and potential for growth, especially with the aid of technological advancements and innovative solutions.

## 2) Travel industry technology trends

The travel industry has undergone significant changes due to the rapid advancements in technology and the emergence of the Fourth Industrial Revolution. In particular, the growth of mobile and platform-based businesses has fundamentally transformed the distribution structure of tourism. This shift towards online platforms has led to an increased demand for innovative technology solutions, such as multi-cloud systems, which have become a crucial component of the travel market's core technologies.

In addition to changes in the distribution structure, there has also been a shift in the behavior of travelers. The use of travel-related apps has become more prevalent throughout the entire travel process, from planning to post-trip management. In the post-COVID-19 era, airlines have emerged as the most commonly used travel app, while travel planning apps have shown the largest increase in usage post-pandemic. These changes are closely related to the increase in individual travel, which has become a dominant trend in the travel industry even before the pandemic. However, the emergence of COVID-19 has accelerated this trend, and it is expected to continue in the future.