In a cross-pond comparison of online travel bookings, Europe tops the U.S. European online leisure/unmanaged business travel bookings surpassed U.S. bookings in 2008 and will continue to retain a lead in 2010, according to PhoCusWright’s European Online Travel Overview Sixth Edition and PhoCusWright’s U.S. Online Travel Overview Tenth Edition.
During the 2009 downturn, online travel proved more resilient than offline channels in both the U.S. and Europe. But while U.S. online leisure/unmanaged business travel fell 5%, the European market held onto a slight 1.5% gain. In 2010, European online leisure/unmanaged business travel bookings will grow 10.5% to reach €73.4 billion (US$97.4), staying just ahead of the U.S. at $96.9 billion.
Although Europe’s online penetration lags behind the U.S., the gap continues to close, and Europe’s larger total travel market offers room to grow. In 2009, Europe’s online leisure/unmanaged business penetration of 31% was nearly eight percentage points behind the U.S. In 2010, the gap is expected to close substantially to just under five percentage points.
Europe is projected to continue its gain on the U.S. over the next several years as markets that have been slower to adopt online booking continue to develop.
PhoCusWright’s online travel overviews are the industry standard for market sizing and forecasting. PhoCusWright’s European Online Travel Overview Sixth Edition is a comprehensive overview of the European online travel market, with detailed analysis of France, Germany, the U.K., Italy, Spain and Scandinavia. The report provides market sizing and forecasting through 2012 for all major travel segments (airlines, hotels, car rental, tour operators, rail and cruise).
PhoCusWright’s U.S. Online Travel Overview Tenth Edition provides rich, actionable insight into the U.S. travel market. The report provides market sizing and forecasting through 2012 for all major travel segments (airlines, hotels, car rental, vacation packaging, cruise and rail) and key online and offline distribution channels (online travel agencies, supplier websites, and traditional travel agencies/offline supplier direct).
Introductory pricing (save US$500) is available for both reports through December 31.