PhoCusWright analyzed 18 individual markets in four major regions – Europe, U.S., Asia-Pacific and Latin America – and found only three travel markets with penetration rates above the critical 35% level. While the U.S., U.K. and Scandinavia have reached the tipping point, the remaining fifteen markets have significant growth potential, including those in Asia Pacific and Latin America. In Scandinavia, which broke the 40% penetration mark in 2010, online penetration is projected to grow just two percentage points over the next two years. In comparison, one of the fastest growing markets, Colombia, has online penetration of just over 4%. With growth rates likely to slow as more countries surpass the 35% tipping point, the global online travel opportunity is clearly not limitless. However, a majority of global online travel markets have a long way to go before reaching maturity – good news for travel companies seeking to cash in as a growing share of travelers worldwide embrace online booking. Get the full story at PhoCusWright