Sherman, Conn. USA — In a year when global travel markets struggled under the weight of recession, Germany’s online travel market held up to the pressure.
Travel industry research authority, PhoCusWright Inc., reveals that the online travel market in Germany grew by 10.4% in 2009 even while overall revenues declined in its recent publication, PhoCusWright’s German Online Travel Overview Fifth Edition.
Online travel agencies (OTAs) have a recognizable competitive advantage in this strained economy because they enable consumers to find affordable options and build their own dynamic packages. As dynamic packaging drives growth—and demand for customized holidays remains high—German OTAs will continue to benefit.
The German travel market underwent a less severe fall in demand in comparison to other major European markets in 2009. Online channels experienced a countercyclical lift that we often see in markets that are
soft, but not suffering major declines.
Currency exchange rates may have led Germany to usurp the top spot from the U.K. as the largest of Europe’s travel markets in 2009, but deeply-ingrained cultural appreciation for travel is also helping to support German demand as other European markets falter. Germany is the third largest European online travel market, but it is expected to overtake France in the next several years as its share jumps from 17% in 2008 to 20% by 2011.
Learn more with PhoCusWright’s German Online Travel Overview Fifth Edition. The report is a subset of PhoCusWright’s European Online Travel Overview Fifth Edition. Electronic market data and individual market reports are also available (France, Italy, Scandinavia, Spain, and the U.K.).
Expert analysts will forecast the U.S., Europe and Asia Pacific (APAC) share of the global online travel market through 2011 in the February 3, 2010 Online Event, PhoCusWright’s Global Online Travel Overview.
About PhoCusWright Inc.
PhoCusWright is the travel industry research authority on how travelers, suppliers and intermediaries connect. Independent, rigorous and unbiased. PhoCusWright delivers qualitative and quantitative research on the evolving dynamics that influence travel, tourism and hospitality distribution. The company is headquartered in the United States with Asia Pacific operations based in India and local analysts on five continents.