[May Point Network] In this economic winter, the number of online leisure travel and unmanaged management bookings in the United States will fall by 7%, while the decline in revenue in the US travel market will reach 16%. "PhoCusWri...
[May Point Network] In this economic winter, the number of online leisure travel and unmanaged management bookings in the United States will fall by 7%, while the decline in revenue in the US travel market will reach 16%.
â€œPhoCusWright has been testing the development curve of frequent fluctuations in online travel distribution channels. In 2009, online travel revenue will fall for the first time. Online travel revenue fell by 7%, while the overall travel market and offline distribution channels declined. Seriously, the decline has reached double digits. By contrast, it can be seen that travelers are more inclined to use the Internet to purchase their travel products during the economic crisis,â€ said Douglas Quinby, senior director of research at PhoCusWright.
The sharp decline in tourism demand and spending will reduce the overall market size to the level before 2005. However, the impact of online distribution channels is relatively minor, so the channel performed better in 2009 than other distribution channels. Moreover, as online travel agents' resistance to the economic downturn proved to be far superior to the supplier's website, the share of online travel revenue in the entire travel market will also rise from 35% in 2008 to 39% in 2009. ,
â€œOnline travel agencies are working hard on consumer concerns, and by promoting special offers and last minute specials, as well as cutting bookings and customer service fees, online travel agents have overcome the pressures of the economic crisis and are therefore in all distribution channels. Breaking out. In 2009, online travel agencies will grab some market share from supplier websites," Quinby added.
The year 2009 is coming to an end, and everyone's attention is on the outlook for 2010 and 2011 and the opportunities that may arise. PhoCusWright believes that there will be modest growth in tourism in 2010, but it will vary according to the tourism sector and distribution channels.
PhoCusWright's "America Online Travel Overview Ninth Edition" provides market assessments and major online and offline distribution channels (including online travel agencies, supplier websites, traditional travel agencies and offline direct providers) and major travel segments (airlines, hotels, car rentals) , holiday products, cruises and railways) forecast for the development of 2011.
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