Practically any traveler can make an online transaction – from just about anywhere in the world. However, the maturity of the world's online travel markets varies greatly, due to a range of factors.
For the first time since 2011, Phocuswright has aggregated and published within a single report updated online and total travel market sizing and projections for six major regions: the U.S., Europe, Eastern Europe, Asia Pacific, the Middle East and Latin America. The most up-to-date, top-level analysis of the global online travel landscape, this overview examines each region's total and online markets, from 2011-2015, with a focus on key market trends and regional highlights, supplier-intermediary dynamics and outlook for future growth.
Key topics include:
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- Global market share by region
- Online travel penetration and regional growth potential
- Analysis of supplier-intermediary dynamics and variation by region
- Market trends for key countries in each region
- Key Findings
- Size of the Global Travel Market
- Europe, U.S., Online Global Leaders
- Total and Online Travel:
- Developed vs. Emerging Regions
- Online Booking Channels by Region:
- Supplier Direct vs. OTA
- Country Market Highlights & Trends
- Global Online Penetration Rates
- Segments: Air Continues Online Dominance
- A Look Ahead
Phocuswright has been tracking the dynamics of the online travel industry since 1998. Phocuswright's Global Online Travel Overview Third Edition presents and compares total and online travel gross bookings for six regions: the U.S., Europe, Eastern Europe, Asia Pacific (APAC), the Middle East and Latin America (LATAM). The data and analysis presented here is sourced in part from several recent and upcoming Phocuswright publications:
U.S. Online Travel Overview Thirteenth Edition
European Online Travel Overview Ninth Edition
Asia Pacific Online Travel Overview Sixth Edition
Latin America Online Travel Overview Second Edition
Middle East Online Travel Overview
The Emerging African Travel Landscape (Travelport-sponsored white paper)1
U.S. Consumer Travel Report Sixth Edition
State of Startups: Asia 2005-2013
This report examines each region's total and online travel markets, from 2011-2015. Data is actual for 2011-2012 and projected for 2013-2015. Projections are based on company interviews, consumer research and market developments. Phocuswright also considers historical growth and economic trends when developing its forecasts. Estimates and projections are for gross bookings – the retail value of travel sold over the Internet – after cancellations.
All references to online travel refer to online leisure and unmanaged business travel and do not include online corporate bookings. Unmanaged business travel refers to all air, car and hotel expenses associated with business travel in firms that do not have a travel policy dictating the channel, type of travel, supplier or fare/rate uses. Corporate travel bookings are included in the total travel market figures, but not the online figures. Where possible, travel that is researched online but booked offline using other means is excluded from online gross bookings figures.
Online penetration is the percentage of the total market that is booked by online leisure/unmanaged business travel services. Total travel figures (online and offline) are used to determine online penetration for each market segment. All figures are in U.S. dollars unless otherwise stated, and converted at the average exchange rate for the period they represent. In some regions, dramatic exchange rate fluctuations have created variances in market size and growth. In 2013, in particular, significant local currency declines in certain APAC countries (Japan, Australia/New Zealand and India, most notably) have reduced the growth and size of these markets when expressed in U.S. dollars.
Estimates and forecasts cover a variety of travel businesses in each region, including travel suppliers (airlines, hotels, car rental companies, packagers, railways and cruise lines) and OTAs. The global travel marketplace refers to the six major regions included in this analysis. In the context of this report, Europe encompasses the first 15 European Union (EU) countries as well as Switzerland and Norway, while Eastern Europe includes: Russia, Poland, Ukraine, Bulgaria, the Czech Republic, Greece, Hungary, Romania and the Baltics. The APAC region includes 11 markets: Japan, China, Australia/New Zealand, India, Singapore, Hong Kong/Macau, Indonesia, Malaysia, South Korea, Taiwan and Thailand. The Middle East covers the United Arab Emirates (U.A.E.), Saudi Arabia, Egypt and Qatar, plus the smaller markets of Syria, Lebanon, Bahrain, Kuwait, Oman and Jordan. The LATAM region consists of Brazil, Mexico, Argentina, Chile, Colombia and Peru.
1 Detailed data on the African travel marketplace – either actual or projected – is omitted from this analysis, as the continent's total and online travel markets are considerably smaller than the other regions covered. However, for the sake of comparison, there are occasional references to the African online travel market.