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BizReport : Ecommerce : November 15, 2006
Online Travel Booking Revenue Set to Take Off
According to a new JupiterResearch report, travel revenue from online bookings will increase by $43 billion over the next five years, reaching $128 billion in 2011.
Revenue from online travel bookings in 2006 has already exceeded JupiterResearch’s 2004 forecast of $70 billion by $15 billion.
The report, entitled “US Travel Forecast, 2006 to 2011” predicts that by 2011 38% of total U.S. travel revenue will come from online bookings.
"Factors that will spur online spending are greater consumer wallet share, increasingly sophisticated products available online and improved online compliance in business travel,” says JupiterResearch analyst Diane Clarkson.
The report concludes that air travel alone will see a rise from the 2006 online revenue figure of $49 billion to $72 billion in 2011. According to David Schatsky, President of JupiterKagan, online travel reservations are increasingly being done direct with suppliers. "Online air buyers indicate a preference for airline web sites to avoid service fees and to get loyalty points. Suppliers also enjoy the perception that they will offer better service than intermediaries,” he said (via MarketingVOX). The shift from telephone to online booking for hotels is also set to increase.
Tags: travel spending
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I found this article to be very well written and informative and being involved in online travel myself it gives me confidence for the future. Great job!