Travelers Spend More on Activities than Cruises, Packages or Car Rentals
The U.S. travel activities market totaled nearly US$27 billion in 2009, making it almost twice as large as the car rental segment, according to a new PhoCusWright report. While less than one third of all travel activities, events, attractions and tours were booked online in 2009, a growing aggregator network and advancements in technology and commercial models will power significant growth in advance bookings and online distribution.
When They Get There (and Why They Go): Activities, Attractions, Events and Tours reveals a diverse travel activities market that is increasingly connected to the broader travel distribution ecosystem. PhoCusWright projects double-digit growth for travel activities bookings via traditional online travel channels through 2012.
“The challenges of connecting to myriad small providers with limited technical capability and a low average transaction value have inhibited online distribution of travel-related activities,” says Douglas Quinby, senior director, research at PhoCusWright. “But while the market remains highly fragmented, key activity aggregators and a flood of innovation related to local search, social media and mobile devices are creating unprecedented opportunities.”
When They Get There (and Why The Go): Activities, Attractions, Events and Tours unravels the complexities of the U.S. travel activities market, providing data and analysis to help travel companies understand its unique challenges and opportunities. Key topics include:
* Market sizing and forecasts for the U.S. travel activities market from 2008-2012, including breakouts by activity type
* Traveler behavior in relation to in-destination services, including research, shopping and booking trends; key drivers and inhibitors; and demographic patterns
* The role and impact of emerging technologies, including reservation and distribution technologies, social media and mobile
* Challenges and opportunities for travel suppliers, distributors and technology providers
This landmark study draws from 45 in-depth interviews with senior executives across the activities and travel distribution landscapes; quantitative surveys of both consumers and activity/event suppliers; and analysis of extensive third-party data across 20 activity types. When They Get There (and Why They Go): Activities, Attractions, Events and Tours provides unprecedented insight into an untapped travel industry segment whose time has come.