Web is bright spot in Europe travel market
January 21, 2010 | Online Travel
Despite a healthy rise in 2009, Europe still lags well behind the US in the proportion of nonmanaged travel revenues realized on the Internet. Online transactions were expected to contribute at least one-half of the US total in 2009, according to earlier projections by PhoCusWright.
Europe’s travel market took a hit in 2009. According to the most recent “European Online Travel Overview” by PhoCusWright and PricewaterhouseCoopers (PWC), total spending on nonbusiness travel was an estimated €214 billion ($300 billion) for the year, down from €239 billion ($335 billion) in 2008.
These losses were limited to offline channels, however. Online sales fared far better, rising 0.4% to remain at about €68 billion ($95 billion).
As a result, the Internet accounted for about one-third of European spending on leisure travel in 2009, up from 28% in 2008.
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