By the end of 2012, travelers will book one third of the world's travel sales online, according to a new PhoCusWright report. Online leisure/unmanaged business travel bookings will grow twice as fast as the total market, to surpass US$313 billion by 2012.
PhoCusWright's Global Online Travel Overview Second Edition compares four major regions – Europe, U.S., Asia Pacific and Latin America – revealing a global travel industry still recovering from the 2009 recession, which triggered a 13% decline in global sales. PhoCusWright projects that global travel bookings will increase 6% in both 2011 and 2012, at which time the market will recover from 2009 losses.all online sales, but less than two thirds of total travel sales. As online travel bookings in the emerging markets of Asia Pacific and Latin America accelerate, combined share for Europe and the U.S. will fall to 73% in 2012 and continue to decline thereafter.
"As online penetration growth in the more mature U.S. and European travel markets slows, travel companies are looking to the Asia-Pacific and Latin America regions for the next pot of gold," says Lorraine Sileo, vice president, research. "In these emerging markets, macro-economic gains, increased travel and growing technology adoption will continue to fuel significant growth in online bookings
BY AKANKSHA ARORA
PGDM - 2 sem
No comments:
Post a Comment