The UK and Germany are the largest online travel markets in Europe respectively constituting 34% and 24% of the total online travel market in 2001.
| 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.
