Despite the recent economic news, people aren’t ready to give up their vacation. New reports from PhoCusWright (www.phocuswright.com), a respected industry research firm, say more people booked online travel during 2008 than years before.
PhoCusWright Vice President of Research Lorraine Sileo says, “online [ticket] sales will continue to outpace total market growth as travelers increasingly shop and book online, seeking better bargains.”
PhoCusWright’s U.S. Online Travel Overview Eighth Edition says that leisure and unmanaged business travel bookings will hit nearly $100 billion in 2008. That’s “more than one-third of the total travel market, and a 9% increase over 2007.”
One travel niche that experiencing a bit of a resurgence is “dynamic packaging,” where what PhoCusWright calls “bargain-hungry consumers…book together and save.”
If you’re thinking about traveling: book online. The research firm indicates others are keyed into the proposition. “The U.S. online travel market is projected to grow far faster than the total travel market through 2010,” concludes PhoCusWright.
©Cheapflights Ltd Jerry Chandler
