U.S. Total and Online Travel Markets Reach New Highs Amid Economic Uncertainty
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Sherman, CT USA, November 10, 2011 – By the end of 2011, the U.S. travel market will fully recover ground lost during the recession. The market will surpass 2006 levels to reach a high of US$277 billion, according to travel industry research authority PhoCusWright, in the new report PhoCusWright's U.S. Online Travel Overview Eleventh Edition. Corporate travel has continued to rebound, and the online leisure/unmanaged business travel market will maintain double-digit gains through 2011.
Yet despite the upward swing, the outlook for 2012 and beyond is clouded with uncertainty.
"Do not let travel's impressive performance in 2011 mask some concerning underlying trends," says Douglas Quinby, senior director, research. "The gains have largely been fueled by the corporate travel rebound and tight airline capacity. The leisure environment overall is soft, and continued high unemployment and consumer pessimism over the state of the economy make for a challenging outlook for 2012."
After its only decline on record in 2009, the U.S. online leisure/unmanaged business travel market will grow 10% in 2011 to reach $109 billion. With a struggling U.S. economy, online travel growth will slow to single-digit gains over the next two years, trailed by the overall travel market.
PhoCusWright's U.S. Online Travel Overview Eleventh Edition is a comprehensive analysis of the U.S. travel industry, providing market sizing and growth forecasts for the total travel market and all major distribution channels through 2013. The report also provides in-depth analysis of the U.S. online leisure/unmanaged business travel marketplace, highlighting marketing and distribution trends for all travel segments including air, hotel, car rental, vacation packaging, rail and cruise. It tracks distribution shifts among supplier websites and online travel agencies, as well as major offline channels. The report analyzes trends in market share, technological innovation and consumer behavior to provide a detailed overview of travel distribution in the U.S.
-Size of the U.S. total and online travel markets
-Market forecasts through 2013
-Distribution patterns by segment and channel
-In-depth analysis of air, hotel, car rental, vacation packaging, rail and cruise segments
-Consumer and technology trends influencing travel marketing and distribution
-Impact of macroeconomic changes
PhoCusWright has followed the evolution of online travel purchasing from its inception. -
PhoCusWright's U.S. Online Travel Overview Eleventh Edition, a Global Edition publication, is the industry standard for sizing and forecasting, providing deep, actionable insights into the U.S. travel market. Introductory pricing is available through December 15, 2011.
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.