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PhoCusWright launches Asia Pacific Research Subscription with a new study that maps the APAC online travel opportunity, analyzing the complex growth dynamics of the region’s diverse markets.
The Asia Pacific (APAC) travel market surged 17% in 2010, surpassing the U.S. to become the second largest regional travel market worldwide, according to a new PhoCusWright report. Fueled by a recovering economic climate and strong growth in key emerging markets, APAC grew faster than all other regions to reach US$255.8 billion in 2010.
PhoCusWright’s Asia Pacific Online Travel Overview Fourth Edition reveals a diverse APAC travel market poised for significant online growth. The region quickly rebounded following a resilient response to the global economic slowdown. While the European and U.S. travel markets both declined 15% in 2009, APAC declined just 7%, with China and India growing slightly on local currency terms.
Rising Internet access and an organic shift toward Internet purchasing will help propel strong double-digit growth in APAC’s online leisure/unmanaged business market through 2012, when gross bookings will reach $70.6 billion.
“At more than $53 billion in 2010, APAC’s online travel market is no longer nascent. But online travel penetration varies widely, reflecting the extraordinary differences among APAC’s individual markets,” said Douglas Quinby, senior director, research. “In more mature markets such as Japan and Australia/New Zealand, online penetration gains are slowing, while emerging online markets like India and China are now driving growth across the region.”
PhoCusWright’s Asia Pacific Online Travel Overview Fourth Edition provides a detailed overview of the APAC travel market, including market sizing and projections for the total and online leisure and unmanaged business travel markets through 2012. The report provides in-depth analysis of five markets: Australia/New Zealand, China, India, Japan and Singapore. In addition, Hong Kong, Indonesia, Macau, Malaysia, South Korea, Taiwan and Thailand are reviewed in aggregate. The report highlights marketing, distribution and consumer trends for major travel segments (air, hotel, car rental and rail) and online channels (suppliers and online travel agencies).
Tatiana is the news co-ordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy. She holds a Bachelor degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
