The travel market in Brazil generated R$189.5 billion in revenue in 2023, according to FecomercioSP. This represents a 7.8% increase compared to 2022. According to a survey also conducted by FecomercioSP, in partnership with the Latin American Association of Event and Corporate Travel Management (Alagev), corporate travel alone generated approximately R$7.3 billion in January 2024 – a 5.5% increase compared to 2023. The data indicates that the tourism sector is preparing to return to pre-pandemic levels.
In this context, travel techs, as startups offering technological solutions for the travel and tourism industry are called, are responsible for helping to boost the sector and digitally transform the travel experience, whether for leisure or work. With the aim of understanding the profile of these companies, Onfly has just completed the second edition of the Map of Brazilian Travel Techs.
According to the survey, Brazil currently has 205 active travel tech companies, classified into a total of eleven categories. These are: Technology for other players (24.4%), Mobility (17.6%), Experiences (13.2%), Online booking and reservations (12.2%), Events (8.8%), Corporate travel management (6.8%), Corporate expenses (5.4%), Services for travelers (4.4%), Accommodation (3.4%), Loyalty program (2.4%) and Corporate benefits (1.5%).
Regarding the size and maturity level of travel tech companies, over 70% of the sector is comprised of companies with up to 50 employees – of these, 36.1% have up to 10 employees, many of them with operations led by the founders. Companies with 100 or more employees represent only 14.2% of the businesses currently in operation.
“We have an active, digitized sector that is ready to scale. Among the companies in the country, those offering technology solutions for the travel segment are still few and, for the most part, young and run by leaner teams. Given the size of the Brazilian tourism market and its potential for expansion, it would not be an exaggeration to say that we are facing a great market opportunity,” highlights Marcelo Linhares, CEO and co-founder of Onfly, the largest B2B travel tech company in Latin America, which offers complete management of corporate travel and expenses.
Regional cut
According to the Brazilian Travel Tech Map, the Southeast region concentrates the most companies and startups in the sector, 72.2%, with the state of São Paulo accounting for more than half (109) of them. In second place is the state of Minas Gerais, with 24 travel techs. The South region follows, concentrating 16.6% of tourism startups, with Santa Catarina (17) standing out as the third state with the most travel techs in the country.
"It is essential that we adopt innovative technologies in our operations, demonstrating to investors a commitment to modernizing this market," Linhares added.
Investments in travel techs
According to Crunchbase, the world's leading innovation data platform, 2021 saw the highest concentration of investments in travel tech in Latin America. In that year alone, tourism startups raised US$154.7 million. Between 2019 and 2023, this figure reached US$290 million. In Brazil, between 2019 and 2023, the sector received US$185 million, with approximately 75% of those investments occurring in 2021.
