The travel and tourism industry across the globe has been registering significant growth over the past few years. As per the World Travel and Tourism Council, the global travel & tourism industry registered a growth of 3.9% in 2018, as compared to the previous years. Since the disposable income of people has been increasing in both developed and developing countries, they are becoming more inclined towards spending on leisure activities such as travelling.
Transportation is an important part of the travel & tourism industry, which is why several hotels provide scooter and car rental services so that the guests can indulge in sightseeing activities with ease.
Other than this, the demand for luxury cars is also projected to grow substantially in the years to come, which is owing to the rising utilization of these vehicles for business trips by corporates and significant economic development.
Car rental services can be availed online or offline, between which, the adoption of online booking channels has been higher up till now. This can be ascribed to the growing penetration of internet of things and increasing utilization of smart phones. Online platforms provide the user with easy access to services, since they can book the car as per their preference, whenever needed, via the company’s mobile app or website.
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This is because of the growing adoption of airport car rental services by business professionals, rising growth of international and domestic tourism, increasing air travel, and surging disposable income of people. When geography is taken into consideration, North America was the largest car rental market in the past, which is on account of the various initiatives that are being taken by service operators, presence of major companies, and growing utilization of these services in a number of cities in the region.
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