Booking：亞太地區(qū)在線旅行社的經(jīng)濟(jì)影響 The Economic Impact of Online Travel Agencies in APAC

TheEconomicImpactofOnlineTravelAgenciesinAPACFinalReport2019-2021CONTENTSCONTENTSOTASummaryimpactsinAPACResearchObjectives&MethodologyIncludingdatasources06EconometricResultsOnkeyeffects08AdditionalEconomicImpactsGDPandemploymentimpactsOTADetails-APACCompositionofOTAsinAPACandadditionalimpactsOTADetails-CountryResultsCountry-levelimpactsofOTAsinselectedAPACmarketsAppendicesAppendix1and268AbouttheResearchTeamTourismEconomics55OTASMAKETRAVELMOREAFFORDABLEOTASMAKETRAVELMOREAFFORDABLEReductioninAverageDailyHotelRatesAttributabletoOTAs,2019-2021-$3-$7-$22020OTAIMPACTSSUMMARYIMPACTSINAPACkePhesyOTASCREATEADDITIONALGDPGROWTHGDPImpacts(USDBillions)AttributabletoOTAsinAPAC,2019-2021$4.3$4.020209NightsinAllAccommodationTypesinAPAC,2012-2021BillionsofRoomNights.75.02201320142015201620172018201920202021BookedusingotheravenuesBookedusingOTAsOTASINCREASEBOOKINGS&EXPANDTHEMARKETAdditionalNights(Millions)inAllAccommodationAttributabletoOTAs,2019-202170.225.619.02020OTASOTASGENERATEJOBSANDECONOMICOPPORTUNITIESJobImpactsAttributabletoOTAsinAPAC,2019-2021975,000202,000169,0002020545RESEARCHOBJECTIVES&METHODOLOGYRESEARCHOBJECTIVES&METHODOLOGYnchnOVERARCHINGMETHODOLOGYBaseline2Counterfactual3AdditionalImpactofOTAs46FLOWCHARTOFOTABENEFITSOTAsOTAsfunctionsTTransparencyTrusTrustCComparisonSearchSearch&bookingOTAsOTAsbenefitsInitialconsumereffects NewdestinationsGreatersalesRewardforsmallestablishmentsEmboldenedtraveldecisions NewInitialconsumereffects NewdestinationsGreatersalesRewardforsmallestablishmentsEmboldenedtraveldecisions Newproperties RaisedqualityIncreasedoccupancyRepeatvisitsBettertravelexperiences ValueformoneyInitialindustryeffectsDirectcustomerfeedbackRewardRewardforqualityIncreasesintravelOverallmarketIncreasesintravelOverallmarketeffectLowerpricingEconomicEconomicimpactondestinationsOTASSUPPORTARANGEOFBENEFITSTOCONSUMERSANDBUSINESSConsumersIndustryEconomy7HotelAverage$perroom104103979795HotelAverage$perroom104103979795968077-3-3-90.8%0.7%0.4%ECONOMETRICRESULTSOTASREDUCEACCOMMODATIONCOSTSOTAFOOTPRINT&INCREMENTALOTASREDUCEACCOMMODATIONCOSTScase.DailyRoomRates(ADR)10910494828020142015201620172018201920202021IfOTAsdidnotexistActualExtranightsgeneratedbyExtranightsgeneratedbyOTAsinAPACMillionsofroomnights(2014-2021)orchangesinADRIMPACTSVARYBYPROPERTYsOTAImpactonHotelADRbySegment$,differencefromcounterfactualBrandedchainsIndependentAlltoOTAintensitythanfordomesticdemand.UpliftinDomesticandInternationalNightsinAPACIncreaseinroomnights,relativetocounterfactualupliftinIncreaseinroomnights,relativetocounterfactualupliftinnights0.4%upliftin0.7%upliftinnights1.9%nightsed2020202120202021DomesticInternational989LowerPricingIncreasesinTravelIndirect&InducedGDP$2.7BDirectGDP$1.6BLLowerPricingIncreasesinTravelIndirect&InducedGDP$2.7BDirectGDP$1.6BLowerPricingIncreasesinTravelINCREMENTALECONOMICIMPACT(2021)169,000AdditionalJobsinAPACin2021LowerPricingIncreasesinTravel$4.0BILLIONAdditionalGDPinAPACin2021Indirect&InducedGDP$2.5BDirectGDPINCREMENTALECONOMICINCREMENTALECONOMICIMPACT(2020)ECONOMICIMPACTS202,000AdditionalJobsinAPACin2020202,000AdditionalJobsinAPACin2020$4.3BILLIONAdditionalGDPin$4.3BILLIONAdditionalGDPinAPACin2020975,000AdditionalJobsinAPACin2019$15.5BILLIONAdditionalGDPinAPACin2019IndirectIndirect&InducedGDP$9.5BDirectGDP$6.0BOTADETAILSAPACAPACOTADETAILSMARKETCHARACTERISTICSAPACOTADETAILSMARKETCHARACTERISTICSMarketCharacteristicsofOTAsComparedtoWholeMarketinAPACShareofNights(International&Domestic)40%76%73%93%94%98%27%OTAs24%7%Wholemarket6%OTAs2%WholemarketWholemarketOTAs201920202021InternationalDomestic201320142015201620172018201920202021SummaryImpactsofOTAsAmountsasIndicatedMoreAffordable2019-$7reduceddailyrates+70.2Mroomnights$15.5BincrementalGDP975,000jobs2020-$3reduceddailyrates+25.6Mroomnights$4.3BincrementalGDP202,000jobs2021-$2reduceddailyrates+19.0Mroomnights$4.0BincrementalGDP169,000jobsinAPAC,2019-2021IncreasesinTravelJobImpactsGDPImpactsMarketCharacteristicsofOTAsComparedtoWholeMarketinAPACShareofTotalSales(BrandedChains&Independent)39%66%61%34%35%34%65%58%65%66%35%42%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021BrandedchainsIndependent60%OTARuralBookingIndexinAPACIndex:2019=1009799939087MarketCharacteristicsofOTAsComparedtoWholeMarketinAPACShareofTotalSales(Hotels&AlternativeAccommodations)48%44%55%4555%57%42%57%52%56%55%4555%58%43%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021HotelsAlternativeAccommodation204,00092,00047,00045,00070,00038,00033,00034%59%66% APACWholeMarketOTAs204,00092,00047,00045,00070,00038,00033,00034%59%66% APACWholeMarketOTAsCompositionofLong-HaulInternationalTravelOriginoflong-haultraveltoAPAC,shareofovernights,20194%Other 9%8%29%46%53% MiddleEast CentralandEasternEurope NorthAmerica WesternEuropeWholeMarketOTAsMARKETEXPANSIONEFFECTONALTERNATIVEACCOMMODATIONSAdditionalNightsinAlternativeAccommodationsMillionsofnightsadditionalnights25.8M12.8Madditionalnights0Madditionalnights201920202021DomesticInternationalCOMPOSITIONOFTRAVELCOMPOSITIONOFTRAVELCompositionofInternationalTravelOriginofinternationaltraveltoAPAC,shareofovernights,2019CompositionofInternationalTravelOriginofinternationaltraveltoAPAC,shareofovernights,2019 RestofWorld(LH)IncrementalGDPImpactforAlternativeAccommodationsBillionsofdollars$6.8$$4.2$1.9$2.6$1.2$1.1 $0.7$0.6$1.7201920202021DirectIndirect&InducedIncrementalEmploymentImpactforAlternativeAccommodationsJobs427,0002224,000201920202021DirectIndirect&InducedOTADETAILSAPACCOUNTRYOTASMAKETRAVELMOREAFFORDABLEOTASMAKETRAVELMOREAFFORDABLEraReductioninAverageDailyHotelRatesAttributabletoOTAs,2019-20212021-$11-$10-$1420202019AUSTRALIAKeyImpactsofOTAsinAustraliain2019OTASCREATEADDITIONALGDPGROWTHlGDPImpacts(AU$Billions)AttributabletoOTAsinAustralia,2019-2021$0.6$0.520209AU$1.6B12,0004.1MAdditionalnightsinaccommodationgeneratedbyOTAsin2019TotalincrementaljobsimpactattributabletoOTAsin2019TotalincrementalGDPimpactattributabletoOTAsin2019NightsinAllAccommodationTypesinAustralia,2012-2021MillionsofRoomNights240209188279902032012201320142015201620172018201920202021BookedusingotheravenuesBookedusingOTAs2025940230332553983723OTASINCREASEBOOKINGS&EXPANDTHEMARKETAdditionalNights(Millions)inAllAccommodationAttributabletoOTAs,2019-20210.820209OTASOTASGENERATEJOBSANDECONOMICOPPORTUNITIESJobImpactsAttributabletoOTAsinAustralia,2019-202112,0005,0005,000202020192021AUSTRALIAOTADETAILSMARKETCHARACTERISTICSAUSTRALIAOTADETAILSMARKETCHARACTERISTICSMarketCharacteristicsofOTAsComparedtoWholeMarketinAustraliaShareofNights(International&Domestic)53%69%47%58%78%42%22%96%92%4%8%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021InternationalDomesticMarketCharacteristicsofOTAsComparedtoWholeMarketinAustraliaShareofTotalSales(BrandedChains&Independent)50%47%39%23%53%50%53%61%49%61%77%47%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021BrandedchainsIndependentMarketCharacteristicsofOTAsComparedtoWholeMarketinAustraliaShareofTotalSales(Hotels&AlternativeAccommodations)49%67%33%37%28%1%70%63%72%29%30%WholeOTAsWholeOTAsWholeOTAsmarketmarketmarket201920202021HotelsAlternativeAccommodationTotalimpactofOTAActivityonTotalimpactofOTAActivityonAverageDailyRatesinAustraliain2019ReductiononDailyRates(AUD)2020reduceddailyratesroomnightsAU$0.6BincrementalGDP5,000jobs20212020reduceddailyratesroomnightsAU$0.6BincrementalGDP5,000jobs2021-$10reduceddailyrates+0.8MroomnightsAU$0.5BincrementalGDP5,000jobs44-$19-$18HotelsonOTAsAllhotelsHotelsnotonAllhotelsAllBrandedchainsIndependentAllSummaryImpactsofOTAsAmountsSummaryImpactsofOTAsAmountsasIndicatedMoreAffordableAU$1.6BreduceddailyratesinAustralia,2019-2021+4.1Mroomnights12,000jobsIncreasesinTravelJobImpactsGDPImpactsincrementalGDP-$14201922232264%RestofAPACNewZealandChina8,000WholeMarketOTAs4,0003,0002,00064%RestofAPACNewZealandChina8,000WholeMarketOTAs4,0003,0002,0004,0002,0003,0002,0002,000CompositionofLong-HaulInternationalTravelOriginoflong-haultraveltoAustralia,OtherCentralandEasternEuropeSouthAmericaNorthAmericashareofovernights,2019 4%75%56%4%COMPOSITIONOFTRAVELECONOMICIMPACTSONCOMPOSITIONOFTRAVELCompositionofInternationalTravelOriginofinternationaltraveltoAustralia,shareofovernights,2019hbothRestofWorld(LH)50%IncrementalGDPImpactforAlternativeAccommodationsBillionsofAU$IncrementalEmploymentImpactforAlternativeAccommodationsJobs$$0.7$0.4$0.4$0.3$0.2 $0.2$0.1$0.4201920202021DirectIndirect&Induced20192020DirectIndirect&InducedWesternEuropeWholeMarketOTAsMARKETEXPANSIONEFFECTONALTERNATIVEACCOMMODATIONSAdditionalNightsinAlternativeAdditionalNightsinAlternativeAccommodationMillionsofnights2.4Madditionalnights0.8Madditionalnights0.3Ma2.4Madditionalnights0.8Madditionalnights0.3Madditionalnightsa0.30.3201920202021DomesticInternational25225OTASMAKETRAVELMOREAFFORDABLEIfOTAsdidnotexistratesOTASMAKETRAVELMOREAFFORDABLEIfOTAsdidnotexistratesintheIndianaccommodationmarketwouldbehigher.tedanaveragereductioninratesof?418perroomnight(7.1%reduction)acrossIndia.ReductioninAverageDailyHotelRatesAttributabletoOTAs,2019-20212021-?313-?292-?44920202019INDIAThenumberoftravellersorganisingtraveltoIndiathroughOTAsincreasedsteadilyfrom2012to2019,beforetheeffectsofthepandemicledtoasharpdeclineinalltravelbookings.Asshownintheaccompanyingchart,approximately38millionroomnightswerebookedthroughOTAsin2019,representing21%ofthe185millionroomnightsbooked.In2020,just12millionroomnightswerebookedthroughOTAsequivalenttoofthetotalmillionroomnightsTherewassomereboundinOTAbookingsin2021,with23millionnightsbookedthroughOTAsoutofatotalmarketof127million(18%).KeyImpactsofOTAsinIndiain2019OTASCREATEADDITIONALGDPGROWTHOTAsgenerateadditionaleconomicgrowthacrossIndia.OTAsaddedanincremental?98.4billiontotheeconomyin2019.OTAscontributed?9.2billiontoIndia’sGDPin2020and?3.9billionin2021.GDPImpacts(?Billions)AttributabletoOTAsinIndia,2019-2021?98.4?9.2?3.92020201920211.9MAdditionalnightsinaccommodationgeneratedbyOTAsin2019?98.4BTotalincrementalGDPimpactattributabletoOTAsin2019286,000TotalincrementaljobsimpactattributabletoOTAsin2019NightsinAllAccommodationTypesinIndia2012-2021MillionsofRoomNights185166144128228810476201820192020BookedusingOTAs26201520162017usingotheravenues20132014Booked63923122021154014738338OTASINCREASEBOOKINGS&EXPANDTHEMARKETOTAsprovidebusinesseswithanonlineplatformtoadvertisetheiraccommodationofferandexpandtheirconsumerbase.OTAsalsoimprovetrustinproviders,andrewardquality.AdditionalNights(Millions)inAllAccommodationAttributabletoOTAs,2019-20210.20.1202020192021OTASOTASGENERATEJOBSANDECONOMICOPPORTUNITIESOTAsgeneratesignificantjobimpactsacrossvarioussectorsoftheIndianeconomy.In2019,theeconomicimpactsattributabletoOTAsincluded286,000jobs.In2020and2021,OTAswereresponsiblefor25,000and11,000jobs,respectively.JobImpactsAttributabletoOTAsinIndia,2019-2021286,00026,00011,00020202019202127INDIAOTADETAILSMARKETCHARACTERISTICSINDIAOTADETAILSMARKETCHARACTERISTICSMarketCharacteristicsofOTAsComparedtoWholeMarketinIndiaShareofNights(International&Domestic)65%65%87%83%97%96%35%35%3%4%WholeOTAsWholeOTAsWholeOTAsmarketmarketmarket201920202021InternationalDomestic-4%-4%-4%2928MarketCharacteristicsofOTAsComparedtoWholeMarketinIndiaShareofTotalSales(BrandedChains&Independent)44%68%56%32%38%63%62%37%38%55%62%45%62%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021BrandedchainsIndependentMarketCharacteristicsofOTAsComparedtoWholeMarketinIndiaShareofTotalSales(Hotels&AlternativeAccommodations)34%34%28%58%61%63%66%66%72%42%39%37%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021HotelsAlternativeAccommodationTotalimpactofOTAActivityonTotalimpactofOTAActivityonAverageDailyRatesinIndiain2021PrecentageReductioninDailyRates2020-?313reduceddailyrates+0.2Mroomnights?9.2B2020-?313reduceddailyrates+0.2Mroomnights?9.2BincrementalGDP26,000jobs2021-?292reduceddailyrates+0.1Mroomnights?3.9BincrementalGDP11,000jobsHotelsonOTAsHotelsnotonOTAsAllhotelsBrandedchainsIndependentAllSummaryImpactsofOTAsAmountsSummaryImpactsofOTAsAmountsasIndicatedMoreAffordable286,000reduceddailyrates?98.4BincrementalGDP9MroomnightsinIndia,2019-2021IncreasesinTravelJobImpactsGDPImpacts-?4492019jobs9,0003,00029%63%49%34%22%3% Restof9,0003,00029%63%49%34%22%3% RestofAPACBangladeshWholeMarketOTAsrismEconomicsBookingcomCompositionofLong-HaulInternationalTravelOriginoflong-haultraveltoIndia,shareofovernights,2019COMPOSITIONOFTRAVELECONOMICIMPACTSONCOMPOSITIONOFTRAVELOTAsproviderelativelymoresupportforlong-haulmarketscomparedtothebroadermarketcompositionOTAsproviderelativelymoresupportforlong-haulmarketscomparedtothebroadermarketcompositiononOTAsinIndiaisfromcountriesaccountedforaround70%ofinternationalovernightstays–muchhigherthanthebookingsstaysoriginatedfromlong-haulmarkets–morethandoubletheshareinthemarketOTAsupportforlong-haularrivalsisprimarilydirectedtowardsarrivalsfromWesternEurope,withtheregionaccountingfor54%ofOTAbookingscomparedto47%ofallinternationalovernightvisits.Bycontrast,OTAsproviderelativelylesssupportforvisitorsfromNorthAmerica–thesevisitorsaccountedfor12%ofOTAbookings,asopposedto33%ofallinternationalarrivals.Amongotherlong-haulregions,thesupportprovidedbyOTAswasalsolargerthantheirwholemarketpresence,includingfortheMiddleEastandCentralandEasternEurope.CompositionofInternationalTravelOriginofinternationaltraveltoIndia,shareofovernights,2019RestofWorld(LH)Economicimpactsaregeneratedthroughtheadditionalspendingassociatedwithnon-hotelstayingdtotaljobsalthoughbothweresignificantlyhigherinwhenOTAscontributedincrementalimpactsof?33.3billioninRestofWorld(LH)IncrementalGDPImpactforAlternativeAccommodationsBillionsof??33.3IncrementalEmploymentImpactforAlternativeAccommodationsJobs97,000?2?21.6552,00045,000OtherCentralandEasternEuropeNorthAmericaOtherCentralandEasternEuropeNorthAmericaMiddleEast7%10%2%7%Direct7%10%2%7%33%SourceTourismEconomicsComScoreSource:TourismEconomics&ComScore33%16%7%47%54%Western47%54%WholeMarketOTAsrismEconomicsBookingcomMARKETEXPANSIONEFFECTONALTERNATIVEACCOMMODATIONSAdditionalNightsinAlternativeAdditionalNightsinAlternativeAccommodationThousandsofnights524additionalnights58additionalnights35additionalnights485524additionalnights58additionalnights35additionalnights485increasedthenumberofovernightstaysinalternativeaccommodationsinIndia.anadditional35,000nightsinalternativeaccommodationinIndia.3944183944201920202021DomesticInternationalomScore3OTASMAKETRAVELMOREAFFORDABLEOTASMAKETRAVELMOREAFFORDABLEReductioninAverageDailyHotelRatesAttributabletoOTAs,2019-20212021-￥554-￥730-￥1,25620202019JAPANhonKeyImpactsofOTAsinJapanin2019OTASCREATEADDITIONALGDPGROWTHGDPImpacts(￥Billions)AttributabletoOTAsinJapan,2019-2021￥256￥1062020￥133201920219.2MAdditionalnightsinaccommodationgeneratedbyOTAsin2019￥256BTotalincrementalGDPimpactattributabletoOTAsin201937,000TotalincrementaljobsimpactattributabletoOTAsin2019NightsinAllAccommodationTypesinJapan2012-2021MillionsofRoomNights5965044393733183637440337201820192020BookedusingOTAs32201520162017usingotheravenues20132014Booked53810849276474381093467271220214444304204564351404162814176020OTASINCREASEBOOKINGS&EXPANDTHEMARKETAdditionalNights(Millions)inAllAccommodationAttributabletoOTAs,2019-20202120202019OTASOTASGENERATEJOBSANDECONOMICOPPORTUNITIESsJobImpactsAttributabletoOTAsinJapan,2019-202137,00016,000202021,0002019202133JAPANOTADETAILSMARKETCHARACTERISTICSJAPANOTADETAILSMARKETCHARACTERISTICSlMarketCharacteristicsofOTAsComparedtoWholeMarketinJapanShareofNights(International&Domestic)0%4%75%35%81%25%96% 4%65%100%96%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021InternationalDomestic3534MarketCharacteristicsofOTAsComparedtoWholeMarketinJapanShareofTotalSales(BrandedChains&Independent)32%60%68%40%30%53%70%47%32%46%32%68%54%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021BrandedchainsIndependentMarketCharacteristicsofOTAsComparedtoWholeMarketinJapanShareofTotalSales(Hotels&AlternativeAccommodations)9%32%91%68%8%28%92%72%8%20%92%80%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021HotelsAlternativeAccommodationTotalimpactofOTAActivityonTotalimpactofOTAActivityonAverageDailyRatesinJapanin2019ReductiononDailyRates(￥)2020-￥730reduceddailyrates+4.7Mroomnights￥106BincrementalGDP12020-￥730reduceddailyrates+4.7Mroomnights￥106BincrementalGDP16,000jobs2021-￥554reduceddailyrates+4.9Mroomnights￥133BincrementalGDP21,000jobs-￥634-￥807-￥1,039256-￥1,424-￥1,560All-￥1,560Allhotels-￥1,623HotelsonOTAsHotelsnotonOTAsAllBrandedchainsIndependentAllSummaryImpactsofOTAsAmountsSummaryImpactsofOTAsAmountsasIndicatedMoreAffordable-￥1,256reduceddailyrates￥256BincrementalGDPinJapan,2019-202137,000jobs+9.2MroomnightsIncreasesinTravelJobImpactsGDPImpacts2019RestofAPACSouthKoreaAustraliaTaiwanChina34%6%2%2%2%17%6%6%6%12,000WholeMarketRestofAPACSouthKoreaAustraliaTaiwanChina34%6%2%2%2%17%6%6%6%12,000WholeMarketOTAs7,0004,0003,0005,0002,0005,0003,0002,000CompositionofLong-HaulInternationalTravelOriginoflong-haultraveltoJapan,shareofovernights,2019 5%5%9%21%61%47%44%4%2.9Madditionalnights2.2COMPOSITIONOFTRAVELECONOMICIMPACTSONCOMPOSITIONOFTRAVELCompositionofInternationalTravelOriginofinternationaltraveltoJapan,shareofovernights,201922%oth22%41%RestofWorld(LH41%35%IncrementalGDPImpactforAlternativeAccommodationsBillionsof￥￥81IncrementalEmploymentImpactforAlternativeAccommodationsJobs￥￥47￥30￥17￥34￥13￥27￥16￥12Other20192020202120192020OtherMiddleEastCentralandEasternEuropeNorthAmerica2%DirectIndirect&MiddleEastCentralandEasternEuropeNorthAmerica2%mScoreWesternEuropeWholeMarketOTAsWesternEuropeWholeMarketOTAsMARKETEXPANSIONEFFECTONALTERNATIVEACCOMMODATIONSAdditionalNightsinAlternativeAdditionalNightsinAlternativeAccommodationMillionsofnights1.4Madditionalnights1.0Madditionalnights1.4Madditionalnights1.0Madditionalnights0.70.03201920202021DomesticInternational373637OTASMAKETRAVELMOREAFFORDABLEOTASMAKETRAVELMOREAFFORDABLEReductioninAverageDailyHotelRatesAttributabletoOTAs,2019-20212021-?15,391-?15,938-?14,26320202019SOUTHKOREAKEYINSIGHTSosKeyImpactsofOTAsinSouthKoreain2019OTASCREATEADDITIONALGDPGROWTHGDPImpacts(?Billions)AttributabletoOTAsinSouthKorea,2019-2021?1,184?182?1122020201920211.7MAdditionalnightsinaccommodationgeneratedbyOTAsin2019?1,184BTotalincrementalGDPimpactattributabletoOTAsin201919,000TotalincrementaljobsimpactattributabletoOTAsin2019NightsinAllAccommodationTypesinSouthKorea2012-2021MillionsofRoomNights644810284424201820192020BookedusingOTAs38201520162017usingotheravenues20132014Booked60852683284735255247221220215946494745523OTASINCREASEBOOKINGS&EXPANDTHEMARKETAdditionalNights(Millions)inAllAccommodationAttributabletoOTAs,2019-20210.30.3202120202019OTASOTASGENERATEJOBSANDECONOMICOPPORTUNITIESndJobImpactsAttributabletoOTAsinSouthKorea,2019-202119,0003,0002,00020202019202139SOUTHKOREAOTADETAILSMARKETCHARACTERISTICSSOUTHKOREAOTADETAILSMARKETCHARACTERISTICSMarketCharacteristicsofOTAsComparedtoWholeMarketinSouthKoreaShareofNights(International&Domestic)87%47%42%80%93%97%53%58%20%7%3%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021InternationalDomestic20122013201420152016201720182019202020212021-?15,938reduceddailyrates+0.3Mroomnights?112BincrementalGDP2,000jobs40MarketCharacteristicsofOTAsComparedtoWholeMarketinSouthKoreaShareofTotalSales(BrandedChains&Independent)44%46%44%73%73%73%56%54%56%27%27%27%WholemarketOTAsWholemarketOTAsWholemarketOTAs201920202021BrandedchainsIndependentMarketCharacteristicsofOTAsComparedtoWholeMarketinSouthKoreaShareofTotalSales(Hotels&AlternativeAccommodations)25%33%23%75%67%82%77%84%81%WholeOTAsWholeOTAsWholeOTAsmarketmarketmarket201920202021HotelsAlternativeAccommodationOTARuralBookingIndexinSouthOTARuralBookingIndexinSouthKorea2012-202100981009595.909292.SummaryImpactsofOTAsAmountsSummaryImpactsofOTAsAmountsasIndicatedMoreAffordable2019-?15,531reduceddailyratesroomnights?1,184BincrementalGDP19,000jobs-?14,263reduceddailyratesinSouthKorea,2019-2021?182BincrementalGDP+0.3Mroomnights3,000jobsIncreasesinTravelJobImpactsGDPImpacts20206,300WholeMarketOTAsCompositionofLong-HaulInternational6,300WholeMarketOTAsCompositionofLong-HaulInternationalTravelOriginoflong-haultraveltoSouthKorea,shareofovernights,20194,2002,100?43700?21400 17%47%25%46%28% 4%COMPOSITIONOFTRAVELECONOMICIMPACTSONCOMPOSITIONOFTRAVELCompositionofInternationalTravelOriginofinternationaltraveltoSouthKorea,shareofovernights,201922%31%36%12%20%RestofWorld(LH)22%31%36%12%20%RestofWorld(LH)38%IncrementalGDPImpactforRestIncrementalGDPImpactforRestofAPACChinaJapanAlternativeAccommodationsJAlternativeAccommodationsJobs17%23%Billions17%23%?391?239?239??151OtherMiddleEastNorthAmericaCentraland