Europe – What's Next for Travel's Biggest Digital Marketplace
- January 2018
- Douglas Quinby
It's been an incredible growth story: the rise of Europe as a very second fiddle to the United States in the evolution of online travel. What started as a laggard at the beginning of this century has now emerged to be travel's largest regional online travel market. With online penetration surpassing half of all travel purchased in 2017, digital channels account for a larger share of the European total travel market than any other region, according to Phocuswright's The State of Digital Travel 2017.
The European traveler – and the region's travel industry – may have been initially slow to adopt online booking. But they quickly caught up, and certain dynamics of the European travel industry – such as the growth of low-cost carriers and the very fragmented hotel landscape – has created openings for online travel agencies (OTAs) and other aggregators.
The key question now is: What lies ahead for online travel in Europe? As online penetration grows, growth also slows. Online booking growth has already been slowing for OTAs and airline and hotel websites. However, rising segments – such as tours, activities and in-destination experiences, and private accommodation – and the rapid advance of mobile and voice will drive a next wave of digital travel growth.
DIG DEEPER INTO THE FUTURE OF ONLINE TRAVEL IN EUROPE
European Online Travel Overview
This Phocuswright report includes more on Europe's fast-moving accommodations landscape. Focused 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 provides a detailed overview of the dynamic European travel market, with market sizing and growth forecasts.
Phocuswright Europe: 15–17 May in Amsterdam
Learn about the European travel market from the players themselves. Register today to hear from AccorHotels, Amadeus, citizenM Hotels, Google, Lufthansa, Thomas Cook and many more.
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