In 2011, Marc Andreessen, co-author of the first widely used web browser (since turned venture capitalist) famously proclaimed that "software is eating the world," observing that global economies were shifting from being hardware-based to software-based. Fast forward just a few years, and this saying already requires an update: Platforms are eating the world. Platform companies have come to command, and perhaps even monopolize, the business landscape. The question for the travel industry is: Is travel also a winner-take-all game?

The transition to an immersive web will not happen overnight, but the progress so far makes it clear that it is coming. A clear roadmap exists, and the changes that need to take place are already underway. As supporting technologies continue to evolve, travel companies should continue experimenting with XR functionality and begin to devise a long-term strategy for incorporating immersive content into the travel planning process.

Phocuswright has tracked the digital travel startup landscape for over a decade. During this time, the digital travel ecosystem has undergone tremendous transformation. Travel startups continue to raise funding, challenge the status quo and lead the wave of disruption globally. This article previews the key findings from our latest travel research report, The State of Travel Startups 2019.

Phocuswright's latest travel research, Evolution of Air Distribution, is a comprehensive four-part series analyzing the complex dynamics of the air distribution sector. This includes History and Background, Industry Segment Perspectives, New Distribution and Retailing Models and Challenges and Future Insights.

For laser-targeted, highly personalized marketing campaigns, a fine line of demarcation exists between being considered a work of genius or an unwanted affront to personal privacy. That line is independently drawn by each individual, and not controlled by the marketer.

Although a smaller share of Americans traveled for leisure in 2018 compared to the previous year, some travel segments clearly benefited from a shift in travel trends.

At $44.7 billion, China had the world's second-biggest OTA market in 2018, compared to the U.S. at $77.1 billion, and its 27% growth over 2017 was more than four times that of the U.S. Overall gains in travel spend are a major driver of this impressive expansion, but OTAs are also aggressively and successfully pursuing both new travelers and a greater wallet share among more experienced travelers.

According to Phocuswright’s latest travel research report, Middle East Online Travel Overview 2019, a winning combination of government investment, positive economic change and consumer affluence is leading the Middle East travel market into a period of strong growth.

The global travel industry performed better than most other economic sectors in 2018, beating GDP gains in most markets. According to Phocuswright’s latest travel research report, Global Online Travel Overview 2019, total travel bookings increased a projected 7.3% to US$1.4 trillion. Critical to global travel companies, online travel bookings are growing twice as fast as the overall market.

Each year, the U.S. leisure travel population fluctuates due to economic conditions as well as personal factors. A strong economy usually correlates with growth, while a weak economy can spur a decline, as some Americans opt to forego leisure travel altogether. 2018 bucked the trends. According to Phocuswright’s recent travel research report series, U.S. Consumer Travel 2019, not as many Americans traveled for leisure, but other indicators suggest consumer confidence remains high, even among those who stayed home.