Report: online travel to reach $50 billion
Leisure and unmanaged travel bookings in the US will leap to nearly $50 billion this year, predicts eMarketer.
“Strategies such as aggregating fares allow consumers to compare rates for themselves, which is why they’re working,” said senior analyst Noah Elkin, author of the report making the prediction. He added:
“Online travel is a huge industry driven by 41 million online travel buyers, and despite ongoing economic and safety concerns, we expect continued growth.
Mr Elkin said that online travel agencies have already been successful in reducing margins in a low-margin business. “But as travel matures as an online industry, distribution alone will not be enough, and neither will be low prices,” he said.
The Online Travel: Marketing and Selling report said the online travel business is already the leading online revenue producer, but that Cendant’s pending acquisition would further expand the market.
eMarketer is an aggregator of e-business and internet statistics that provides market projections and other information to online professionals.
Report by David Wilkening
David
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