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Online travel growth dips to single digits
Growth of online leisure and unmanaged business travel dipped into single digits this year, according to market tracker Phocuswright.
The company says this is the first time since it began recording online travel sales in 1998 that this has happened.
However, online travel annual growth still outpaces the total travel market for 2008 and this is set to continue until at least 2010.
The company’s latest Online Travel Overview says online leisure and unmanaged business travel will grow by 9% in 2008 compared to 2007, reaching $100 billion, more than a third of the travel market.
It added that growth would continue at 7% annually through to 2010, despite the global recession and the accompanying softening in consumer demand.
The report also shows that OTAs are receiving a “counter cyclical lift†as consumers are driven back to the web in search of a bargain.
Phocuswright says supplier websites and OTAs are expected to hold a share equilibrium until 2010 at 61% and 39% respectively.
by Dinah Hatch
Phil Davies
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