U.S. online travel consumer market largest, poised for growth
Online leisure travel growth in 2005
Graphic: eMarketer.com
New York, NY — According to a recent eMarketer study, the U.S. is the global leader in online travel expenditures. Its leisure and non-corporate travel consumers will spend $122.4 billion by 2009, up from $64.9 billion last year, eMarketer projects in its new report, “Online Travel Worldwide: A Mosaic of Separate Markets.”
European travelers spent $35.5 billion online in 2005. And, the Asia-Pacific region, now one-quarter the size of the U.S. market, reaped $15.9 billion in 2005. It is expected to show quick growth in upcoming years.
Demographic studies of travelers in the U.S., Europe and the Asia-Pacific region all show the emergence of an older generation of travelers, Baby Boomers (ages 45 to 60), who are healthy, adventurous and affluent, as well as Internet savvy.
“Online travel distributors and marketers who pay attention to these customers and design travel offers matching their interests and needs will reap rewards,” said Jeffrey Grau, eMarketer’s senior analyst and author of the report.
The U.S. is the world’s largest and most mature travel market. Growth is slowing down in the U.S. At the same time, Europe, U.K., France and Germany are approaching maturity, while Southern and Eastern Europe have untapped potential.
The four fastest-growing travel markets over the next four years are China, South Korea, India and Japan. China, with projected travel spending growth of 18.3 percent to 2010, will rise from seventh place to fourth place in personal and business travel spending among the world’s 16 largest economies.
Market research company eMarketer conducts analysis of trends related to e-business, online marketing and emerging technologies. eMarketer aggregates and analyzes data from over 2,000 sources and brings it together in a suite of services offering. For online comfort and luxury travel reviews, visit SimonandBaker.com
