According to data released by the Centre For Regional Tourism (CRT), an increase of about 46% is expected in the European online travel market during 2002. Revenue for the year is forecast to be around E6.5 billion, up from E4.4 billion in 2001 and a share of around 2.9% of the whole market.
Online Travel Market: Breakdown By Sector (% of total market) | ||
2001 | 2002 | |
Air travel | 59 | 59 |
Rail | 9 | 10 |
Rental cars | 4 | 4 |
Hotels | 12 | 11 |
Package tours | 13 | 12 |
Other services | 3 | 3 |
Source: CRT, March 2002 |
Air travel increased its share from 56 to 59% during 2001, but the CRT believes that it will remain at that level during 2002 and onwards claiming “several major no-frills airlines are reaching a ceiling with more than 90% of their seats being sold online from early 2002.”
According to eMarketer’s February 2002 Travel Market Worldwide Report the online leisure travel market will generate $31.9 billion in 2003.