The travel industry experienced a record-breaking year in 2018 for funding into new businesses.
Phocuswright's annual State of Startups Report, which has tracked the digital travel startup landscape since 2009, found a 55% increase year-over-year in the amount of money ($5.7 billion) going into companies.
This figure accounts for nearly one-third of the $19.7 billion that has been raised by travel startups since 2009.
PhocusWire's sister brand believes one of the key reasons for the funding boom is the global online travel outlook and frenzied late-stage investor support for new business models that have the potential to scale in specific regions or globally.
The vast majority of the funding raised in 2018 was obtained by late-stage companies, some $4.5 billion out of the total $5.7 billion for the year.
Some might consider this to be less than good news for early stage businesses if the rounds are heading the way of established players, rather than backing new ideas or fledgling companies.
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