Online travel and the slumping economy

April 14, 2008 | Online Travel

Forrester Research's Henry Harteveldt keynoted TravelCom'08 in Chicago last week with a presentation titled “Successfully Navigating Uncharted Waters.” The confluence of a shaky economy and slowing online growth has marketers stumbling for answers.

The annual Travel Com Conference, produced by the Travel Industry Association of America (TIA), featured top-level executives from Forrester Research, consumer brands like Travelocity and Priceline, plus GDS companies and software providers – all providing their unique perspective on the state of the online travel industry, and more importantly, where we’re headed.

Henry Harteveldt, vice president & principal analyst of Forrester Research, keynoted the conference with a presentation titled “Successfully Navigating Uncharted Waters.” The confluence of a shaky economy and slowing online growth has marketers stumbling for answers. The online travel industry has reached a point where 80% of travelers are online and growth for online bookings, which currently stands at $112 billion, has virtually stalled – with only single-digit gains. Satisfaction with online bookings is decreasing as only 49% of online bookers feel it’s enjoyable to book a trip online, down from 53% last year. 24% of people feel it’s more convenient to research travel offline, versus 20% last year. Also, growth in online travel spending is expected to be greatest among the Generation X and Y generations, not the traditional boomer and senior populations that are prevalent in the group travel industry.

Get the full story at the Group Travel Blog

Related Articles

China expected to stimulate world travel economy in 2010
16 Mar, 2010 | Online Travel

Google Marketplace drives corporate travel apps
15 Mar, 2010 | Online Travel

IATA sees brighter 2010 outlook
15 Mar, 2010 | Online Travel

Expedia to lift investment in Kuxun.cn
15 Mar, 2010 | Online Travel

How TripAdvisor engages mass influencers
12 Mar, 2010 | Online Travel

Ctrip offers best-price guarantee for hotel bookings
12 Mar, 2010 | Online Travel

U.S. travel professionals voice optimism
12 Mar, 2010 | Online Travel

6 ways to drive more online travel sales in 2010
11 Mar, 2010 | Online Travel

The “new normal”, you travel differently now
11 Mar, 2010 | Online Travel

Priceline opens up; Quikbook goes opaque
10 Mar, 2010 | Online Travel

Most Popular Articles

Does your hotel really need a social media strategy?
11 Mar, 2010 | Hospitality Industry

How TripAdvisor engages mass influencers
12 Mar, 2010 | Online Travel

6 ways to drive more online travel sales in 2010
11 Mar, 2010 | Online Travel

The need for a more holistic approach to revenue management
10 Mar, 2010 | Hospitality Industry

Why should I open your e-mail?
09 Mar, 2010 | Internet Marketing

Google Marketplace drives corporate travel apps
15 Mar, 2010 | Online Travel

Hitwise: US travel website ranks, February 2010
08 Mar, 2010 | Online Travel

Online travel booking users exceeds 30 million in China
09 Mar, 2010 | Online Travel

Starwood runs loyalty pilot program that targets rivals’ customers
15 Mar, 2010 | Hospitality Industry

Blending social media into the PR mix
08 Mar, 2010 | Internet Marketing

Economic Downturn

Recovery over a year away, say European hotel executives
16 Mar, 2010 | Hospitality Industry

China expected to stimulate world travel economy in 2010
16 Mar, 2010 | Online Travel

IATA sees brighter 2010 outlook
15 Mar, 2010 | Online Travel

Virgin America’s guide to not screwing up customer service
12 Mar, 2010 | Internet Marketing

UK travelers plan to take multiple trips abroad in 2010
09 Mar, 2010 | Online Travel

Un-stoppable growth in OTA bookings, GDS still lacking behind
05 Mar, 2010 | Online Travel

Global hotel prices dropped beyond 2004 levels during 2009
02 Mar, 2010 | Hospitality Industry

Things are looking up for U.S. airlines
02 Mar, 2010 | Online Travel

Asia leads travel industry’s recovery
26 Feb, 2010 | Online Travel

Meeting buyers see budget cutbacks ease
25 Feb, 2010 | Hospitality Industry

Travel companies grapple with “new normal”
23 Feb, 2010 | Online Travel

Europe likely to see recovery, not growth, says STR
22 Feb, 2010 | Hospitality Industry

Hogg Robinson Group sees early signs of recovery
22 Feb, 2010 | Online Travel

US Travel growth expected in 2010
18 Feb, 2010 | Online Travel

IHG’s profit drops 18%, as hotel rates continue to fall
16 Feb, 2010 | Hospitality Industry

E-Mail Newsletter


Visit our sponsors: