The internet will replace national newspapers as the primary marketplace for travel advertising in the UK as agents, operators and online suppliers ditch traditional press according to David Soskin, CEO of Cheapflights.co.uk.
Soskin, making his comments during an Association of British Travel Agents (ABTA) Business Luncheon for industry leaders, drew parallels with the North American market, where major newspaper groups have faced derisory increases or worse in travel advertising in the first quarter of this year.
With 99% of the UK population able to access high-speed internet services by summer 2005, price comparison websites are set to become the main source for travel deals.
Internet advertising will outstrip ‘outdoor’ advertising - including billboards, posters and transit cards - in 2006 according to Soskin. Internet advertising has already overtaken that of cinema and radio advertising in the UK.
Said Soskin: “As a generation of computer experts comes of age, newspapers will have to move quickly to stop their advertising revenues haemorrhaging. Young travellers will not be seeking travel deals on TV or a newspaper: they’ll be online.
“Travel companies that look to effective internet advertising models will pay less, sell more and account far more accurately for the success of their spend.”