OTA Gross Bookings in Latin America Will More Than Double by 2012
FOR IMMEDIATE RELEASE
+1 860 350-4084 x380
PhoCusWright report uncovers key dynamics driving growth in Latin America's diverse online travel marketplace
Sherman, CT USA, April 7, 2011—A new report from PhoCusWright reveals that, despite the global economic slowdown, the Latin American online travel marketplace is bursting with potential, and is poised for strong double-digit growth for the next several years. The travel research authority indicates that online travel agencies (OTAs) – well-established local/regional players, and global brands that have recently arrived in the region – are expected to double their gross bookings to approximately US$5 billion in the next two years.
PhoCusWright's Latin America Online Travel Overview explores the characteristics and key dynamics that drive this diverse market, including recent efforts by global OTAs to carve a niche for themselves in the region.
"Until recently, regional and local online travel agencies have dominated the space, and global OTAs found it challenging to unlock the potential of this complex, unique market," says Patricia Rasore, director, Latin America at PhoCusWright. "But in 2010, big global players really stepped up their efforts in the region, specifically by targeting the highly fragmented hotel space. And they've had some remarkable results. However, it remains to be seen whether, in the long term, they have what it takes to understand and leverage the similarities and differences among the extremely diverse countries that together comprise the Latin American market."
Based on nearly 100 interviews with travel suppliers, intermediaries, technology providers and media sites, PhoCusWright's Latin America Online Travel Overview lays the groundwork for understanding this diverse and promising travel marketplace. The report reveals the current state of the market, along with projections and insight into the years ahead. Highlights include:
Sizing of Latin America's total and online travel markets, including projections through 2012 and comparisons to other global markets
Analysis of the major travel product segments – air, lodging, car rental and vacation packages
Detailed information on the specific country markets that are most influential in the region's online travel development
Overview of the primary online booking channels – supplier-direct versus intermediaries
Discussion of social media and mobile technology trends, and their evolving impact on the region's travel marketplace
Examination of the fundamental dynamics, key suppliers and intermediaries that are shaping the market, including both global and regional players
With extraordinary OTA growth projected for the next several years, and a tremendous opportunity looming in the lodging segment, Latin America is set to make its mark on the global online travel marketplace. PhoCusWright's Latin America Online Travel Overview provides the numbers and knowledge necessary to unleash the potential of this emerging, but extremely promising market. Early-bird pricing is available through April 25.
About PhoCusWright Inc.
PhoCusWright is the travel industry research authority on how travelers, suppliers and intermediaries connect. Independent, rigorous and unbiased, PhoCusWright fosters smart strategic planning and tactical decision-making.
PhoCusWright delivers qualitative and quantitative research on the evolving dynamics that influence travel, tourism and hospitality distribution. Our marketplace intelligence is the industry standard for segmentation, sizing, forecasting, trends, analysis and consumer travel planning behavior. Every day around the world, senior executives, marketers, strategists and research professionals from all segments of the industry value chain use PhoCusWright research for competitive advantage.
To complement its primary research and learning solutions in North and Latin America, Europe and Asia, PhoCusWright produces several high-profile conferences in the United States and Germany, and partners with conferences in Canada, China and Singapore. Industry leaders and company analysts bring this intelligence to life by debating issues, sharing ideas and defining the ever-evolving reality of travel commerce.
The company is headquartered in the United States with Asia-Pacific operations based in India and local analysts on five continents.
PhoCusWright is a wholly-owned subsidiary of Northstar Travel Media, LLC.