According to PhoCusWright, online travel agencies (OTAs) – well-established local/regional players, and global brands that have recently arrived in the region – are expected to double their gross bookings to approximately US$5 billion in the next two years.

PhoCusWright's Latin America Online Travel Overview explores the characteristics and key dynamics that drive this diverse market, including recent efforts by global OTAs to carve a niche for themselves in the region.

"Until recently, regional and local online travel agencies have dominated the space, and global OTAs found it challenging to unlock the potential of this complex, unique market," says Patricia Rasore, director, Latin America at PhoCusWright. "But in 2010, big global players really stepped up their efforts in the region, specifically by targeting the highly fragmented hotel space. And they've had some remarkable results. However, it remains to be seen whether, in the long term, they have what it takes to understand and leverage the similarities and differences among the extremely diverse countries that together comprise the Latin American market."

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