Market Trends of ASEAN Online Accommodation Industry
This section covers the major market trends shaping the ASEAN Online Accommodation Market according to our research experts:
Rise in Usage of Online Travel Agencies Driving the Market
Usage of online travel agencies increasing in many ASEAN countries especially in Singapore and Malaysia. According to a survey by Rakuten Insight on the usage of online travel agencies in Singapore conducted in November 2020, 81% of the respondents stated that their main reason for using an online travel agency is to book accommodation. 73% of Malaysian respondents stated that they had used an online travel agency in 2020. This is because of convenience, offers, and discounts. 52% of Indonesian respondents stated that they had used an online travel agency called Traveloka. 51% of the Thai respondents stated that they have used an online travel agency, and 69% of these used Agoda.
Increasing Internet Users in ASEAN Region Boosting the Market
Technology has been critical in helping Southeast Asians get through the COVID-19 pandemic. 10 years ago, 4 in 5 Southeast Asians had only limited access to the internet. Today, Southeast Asians are the most engaged Internet users worldwide, with 90% of them connecting to the internet primarily through their mobile phones. Brunei had the highest internet penetration rate within the Southeast Asian region, at 104.5 % in 2021, followed by Malaysia with 89%. Timor-Leste had the least internet penetration rate of 38.3 %.
