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Like the rest of the country's economy, India's travel industry is on the fast track for growth. Its online travel market is the fastest-growing in Asia Pacific and weathered the recession well, though some segments fared better than others. The country's online travel agency bookings are expected to make major gains in the next several years.
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Online rail bookings are on the rise in Asia Pacific, but obstacles in emerging markets - such as Internet access and online payment adoption - still hinder growth. Rail penetration is highest in India, Japan and China, and the latter two account for the vast majority of the region's rail bookings.
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While Asia Pacific's total travel market declined during the recession, online travel agencies experienced striking growth. Hotels accounted for the vast majority of these bookings and air held second place, though these dynamics vary by market. Most markets in the region are led by local OTA brands, many of which are expanding their reach outside their home turf. Global OTAs, in efforts to catch up and drive growth, are increasingly investing in the region.
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The Australia/New Zealand travel market suffered declines during the recession, but bounced back quickly. Online sales tilt heavily toward supplier websites, but online travel agencies fared remarkably well during the recession and are expected to see strong growth in the coming years. The two countries' combined market has the highest online penetration in Asia Pacific, and global online travel agencies are making bold moves to take steal market share.
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The second-largest travel market in Asia Pacific, China was one of the region's only markets to grow during the recession. Despite strong growth in the coming years, the country lags in online penetration and will continue this trend in the near future. Distribution - and even completion of sales for online travel agencies - will remain predominantly offline.
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In 2010 the APAC travel market overtook the U.S. to become the second-largest – and fastest-growing – regional market in the world. PhoCusWright's Asia Pacific Online Travel Overview Fourth Edition provides market sizing, projections and analysis for the region's total and online leisure/unmanaged business travel market, including trending by segment and channel. The report also offers detailed insight into the unique dynamics shaping online travel in the region's six most mature markets – India, China, Japan, Australia, New Zealand, and Singapore.
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The audio recording and presentation deck of the April 14, 2011 Online Event exploring Latin America's rapidly evolving online travel market.
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Facing the aftermath of the financial crisis - which severely affected nearly all European economies - Germany was able to avoid high unemployment rates and maintain relative economic stability throughout 2009. Nevertheless, growth in all sectors of the travel industry slowed, dragging total gross bookings for the German travel market down.
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In 2009, the U.K. was still reeling from the global financial crisis. Due to budget constraints,travelers took fewer trips, knocking outbound holidays and trips to visit friends and relatives down. All in all, however, the U.K. travel market is seeing light at the end of the tunnel. GDP is projected to grow in 2010 officially signaling the end of the recession, and travel will pick up again.
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With 74 million visitors, international travel to France fell in 2009 as a result of the global economic crisis and the relative strength of the euro. However, the fall in international visitors was offset by growth in domestic tourism. Despite declining overall sales, the online component of the French travel market grew slightly in 2009. However, growth rates were not even across all sectors, as airline, rail, and car hire online sales dropped in line with revenue reductions in their respective sectors.
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