Industry Trends
Online Travel / Hospitality Industry Trends
With the rapid growth in usage of internet, it has positively affected the travel and hospitality industry in terms of revenue generation. Surveys show that online travel industry is growing at an increasing rate.
US Online Travel Market
The year 2007 was the first in which more travel was purchased online than off-line in the US. 51% of US travel was booked online in 2007, and it projected that percentage to increase to 56% in 2008 and 60% in 2009.
(Source: HotelMarketing.com, 2008)
- In 2008, 37%-38% of all hotel bookings will be generated from the Internet (one-third in 2007, 29% in 2006)
- At least another third of all hotel bookings will be influenced by the Internet, but done offline (call center, walk-ins, group bookings, etc.)
- By the end of 2010, over 45% of all hotel bookings will be completed online
(Source: Merrill Lynch, 2008 September) - In 2008 US travel sales booked online will reach $105 billion, up 12% from 2007
Online Travel Marketing Europe
- Online travel sales increased by 24% from 2006 to 2007 and reached EUR 49.4 billion in the European market in 2007
- Online travel market in Europe is expected to grow to about EUR 58.4 billion in 2008
- The European online travel market is expected to reach EUR 67 billion in 2009
- UK accounted for 30% of the European online travel market in 2007, with Germany in second place at 19%. The direct sellers accounted for 65% of online sales in the European market in 2007, intermediaries 35%
The individual markets of Europe, in particular the top five U.K., Italy, France, Germany and Spain demonstrate the variety of paths that developing e-commerce economies can take. (Source: HotelMarketing.com, 2008)
- Italian online travel market projected to near 3.4 billion EUR in 2008
- U.K. online travel market projected to near 20.1 billion EUR in 2008
- Spanish online travel market projected to near 5.8 billion EUR in 2008
- German online travel market projected to near 12 billion EUR in 2008
- French online travel market projected to near 10 billion EUR in 2008
Online Travel Market Asia Pacific
- Online travel sales in Asia will grow about 90% over the next 10 years with China, India, Indonesia, Hong Kong and Vietnam leading the way. (Source: HotelMarketing.com, 2008)
- By 2011 the Chinese online travel market will take around US$ 15.4 billion worth of bookings.
(Source: eMarketer, 2008) - Indonesia's online travel sector is expected to grow by between 70% - 83% a year from 2006 to 2010 compared to US. (US expected growth is 17% a year during the same period.)
(Source: HotelMarketing.com) - Online travel sector in Vietnam is likely to fuel the boom in e-commerce, forecast to grow 202% a year between 2006 and 2010. (Source: HotelMarketing.com)
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