A new report from PhoCusWright reveals that, despite the global economic slowdown, the Latin American online travel marketplace is bursting with potential, and is poised for strong double-digit growth for the next several years. The travel research authority indicates that online travel agencies (OTAs) – well-established local/regional players, and global brands that have recently arrived in the region – are expected to double their gross bookings to approximately US$5 billion in the next two years.
PhoCusWright’s Latin America Online Travel Overview explores the characteristics and key dynamics that drive this diverse market, including recent efforts by global OTAs to carve a niche for themselves in the region.
“Until recently, regional and local online travel agencies have dominated the space, and global OTAs found it challenging to unlock the potential of this complex, unique market,” says Patricia Rasore, director, Latin America at PhoCusWright. “But in 2010, big global players really stepped up their efforts in the region, specifically by targeting the highly fragmented hotel space. And they’ve had some remarkable results. However, it remains to be seen whether, in the long term, they have what it takes to understand and leverage the similarities and differences among the extremely diverse countries that together comprise the Latin American market.”
April 14 Online Event: Join Patricia Rasore at noon EDT on Thursday, April 14 for a lively mix of discussion and data to reveal what makes this market so unique, and identify strategic opportunities and challenges. More Information
Based on nearly 100 interviews with travel suppliers, intermediaries, technology providers and media sites, PhoCusWright’s Latin America Online Travel Overview lays the groundwork for understanding this diverse and promising travel marketplace. The report reveals the current state of the market, along with projections and insight into the years ahead. Highlights include:
* Sizing of Latin America’s total and online travel markets, including projections through 2012 and comparisons to other global markets
* Analysis of the major travel product segments – air, lodging, car rental and vacation packages
* Detailed information on the specific country markets that are most influential in the region’s online travel development
* Overview of the primary online booking channels – supplier-direct versus intermediaries
* Discussion of social media and mobile technology trends, and their evolving impact on the region’s travel marketplace
* Examination of the fundamental dynamics, key suppliers and intermediaries that are shaping the market, including both global and regional players
With extraordinary OTA growth projected for the next several years, and a tremendous opportunity looming in the lodging segment, Latin America is set to make its mark on the global online travel marketplace. PhoCusWright’s Latin America Online Travel Overview provides the numbers and knowledge necessary to unleash the potential of this emerging, but extremely promising market. Early-bird pricing is available through April 25.