Europe's online travel market is thriving, and the region's fastest-growing distribution channel is leading the way. Riding the crest of the market recovery, online travel agencies (OTAs) were projected to grow 19% in 2011 to reach €33.4 billion, according to Phocuswright's European Online Travel Overview Seventh Edition. By comparison, supplier website bookings were expected to grow just 9%, giving OTAs a substantial edge.
"OTAs are benefiting from Europe's fragmented travel industry, along with ongoing weakness in many of the European economies," said Clement Wong, director, research EMEA at Phocuswright. "As OTAs deepen and broaden their travel content over the next several years, they will continue to see strong growth."
Priceline's Booking.com was the main driver of OTA growth in Europe in 2011, with the company's share of all OTA gross bookings projected to rise to 27%, up from 22% the previous year. The top five pan-European OTAs – Priceline, Expedia, Lastminute.com, Ebookers and the newly formed ODIGEO – account for over 60% of European OTA bookings. Their collective market share continues to grow at the expense of smaller local OTAs, amidst ongoing consolidation.
Phocuswright's European Online Travel Overview Seventh Edition is a detailed overview of the European travel market, providing market sizing and growth forecasts through 2013. The report focuses on the European online leisure/unmanaged business travel marketplace, with in-depth analysis of six individual markets: France, Germany, the U.K., Italy, Spain and Scandinavia. The report highlights marketing, distribution and consumer trends for key travel segments, including air, hotel, car rental, tour operators, rail and cruise.
Phocuswright's European Online Travel Overview Seventh Edition
- Size of the European travel market and six individual country markets
- Market forecasts through 2013
- Distribution patterns by segment and channel
- In-depth analysis of all major travel supplier segments
- Trends among key travel companies
(US$2,495) – a Global
and European Edition
publication – provides a comprehensive picture of the European online travel market and includes data and analysis essential to any travel company competing in Europe.
Individual country reports are also available ($995) – each contains a valuable overview providing robust European market intelligence that puts regional trends and performance in perspective.FranceGermanyItalyScandinaviaSpainU.K.