Booking is the largest online travel agent in the world. As a result of its virtually unrivaled global network of travelers and accommodation, airline, and rental car providers, we believe Booking is in a great position to benefit both from global GDP growth and from the secular trend toward more travel and tourism, which is forecast to grow as a percentage of GDP from 3.2% in 2018 to 3.5% by 2029.1
To read a more detailed description on BKNG as discussed in a prior investment letter, click here.
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