Online bookings in the European travel market are expected to grow by 7% in 2015
Online sales increased 8% in 2013 despite continued economic issues across Europe and this is set to continue to rise at a similar rate through 2016, according to the latest PhoCusWright report.
Gross bookings online also surpassed the EUR100 billion mark in 2013, with the research firm saying consumers will continue to ‘evolve toward digital channels’.
It also means a higher threat from suppliers, which are said to control 60% of the total online market. However it’s the online travel agencies that are considered to be pulling business away from offline channels faster.
“While growth in the total travel market has slowed down, there is still ample opportunity to shift market share between Europe’s many travel intermediaries and suppliers,” said Luke Bujarski, director, research at PhoCusWright.