ANALYSIS OF THE ACTIVITIES OF LEADING INTERNATIONAL TOURISM COMPANIES ON THE GLOBAL TOURISM MARKET
Authors:   State University "Uzhhorod National University", Roshko Svitlana , Rishko Oleksandra ,   State University "Uzhhorod National University"
Published: December 2024

The global tourism industry has faced unprecedented challenges during the COVID-19 pandemic, causing a significant downturn in the activities of major international tourism companies. However, from 2021 to 2024, these companies began to recover by implementing various strategies and adapting to the new realities of the tourism business. This article focuses on the analysis of leading international tourism companies such as TUI Group, Expedia Group, and Booking Holdings, highlighting their performance, innovations, and digital transformation during the recovery period. The first key aspect of the recovery was the gradual re-emergence of demand for travel services as global restrictions eased. This period witnessed a notable shift towards digital platforms and online services as companies sought to improve the customer experience and streamline operations. For instance, TUI Group introduced virtual tours and consultations to provide customers with a seamless booking process, while Booking Holdings expanded its mobile application to offer more personalized recommendations using artificial intelligence. Digitalization was key to the tourism sector’s recovery post-pandemic. Companies that prioritized online services and mobile apps adapted to shifting consumer preferences for contactless services and online booking. Expedia Group, for example, invested in cloud-based solutions and mobile-friendly platforms, leading to mobile bookings making up 60% of its total bookings by 2023. These advancements not only helped regain lost business but also strengthened companies' competitive edge. The analysis also highlights the financial performance of major tourism companies. From 2021 to 2023, revenue steadily increased as international travel rebounded, particularly in regions like Europe and North America. The companies analyzed in this study showed a strong recovery trajectory, with TUI Group reporting a significant rise in revenue from $10.1 billion in 2021 to $18.6 billion in 2023. Similarly, Booking Holdings saw its revenue climb from $10.8 billion to $18.2 billion over the same period. Despite this, challenges remain, particularly in the Asia-Pacific region, where travel restrictions have been slower to ease, and demand has not fully recovered. Tourism companies not only focused on financial recovery but also adopted flexible, innovative approaches to meet evolving consumer demands. Safety and hygiene became priorities, with travelers favoring destinations offering enhanced health protocols. Companies responded by offering flexible bookings and travel insurance to address post-pandemic uncertainties. Additionally, the rise of remote work led to new opportunities, with companies targeting the "workation" trend to diversify services and attract new segments. Looking ahead, tourism faces uncertainties like economic volatility and shifts in consumer behavior. However, leading firms are well-positioned to adapt through investments in digitalization, innovation, and sustainability. Agile business models and resilience will be crucial for long-term success. The study concludes that digital transformation remains a key competitive advantage, with companies that prioritize flexibility and innovation being best placed for post-pandemic success.