Internet Travel Booking Market - US Report: Current Amazon U.S.A. One-Edition Data

From the book lists at Adware Report:

All information current as of 19:27:48 Pacific Time, Monday, 21 February 2005.

Internet Travel Booking Market - US Report

   by Mintel International Group Ltd.

  Digital:
    MarketResearch.com
    25 October, 2001

   US$3,000.00

   Available for download now

Click the button below to . . .

(which will add the book to your Amazon U.S.A. "Shopping Cart")

. . . or use your browser's Back button to return to the search-list page.

Editorial description(s):

Download Description
According to the World Tourism Organization (WTO), tourism is the world's number one industry, with money spent by travelers being the primary source of income for around 40% of the world's countries. According to the Travel Industry Association (TIA), in 2000, 1 out of every 17 U.S. residents was employed due to travel-related spending. The TIA data suggests that U.S. consumers spent around $564.9 billion on travel in the U.S. and abroad in 2000, and based on data from the U.S. Department of Commerce and the TIA, Mintel estimates that $205.4 billion was spent on leisure travel during 2000. WTO data suggests that the leisure travel industry is experiencing rapid growth, with an estimated one-year growth of 7.4% between 1999 and 2000. According to Simmons' survey of a representative sample of U.S. adults, around 1 in 4 respondents had taken a vacation for leisure between April 2000 and March 2001. The influx of the Internet into everyday life has had a notable impact on the travel industry. Current estimates suggest that around 64 million U.S. adults regularly use the Internet. According to TIA research, in 2000 about 90 million people qualified as Internet travelers, 24.7 million of whom booked online travel reservations, a 56% increase compared to 1999 figures and a 384% growth compared with 1997 figures. Research by Simmons found that around 1 in 7 respondents used online computer services to obtain airline and hotel information. The Internet travel market is estimated to be worth $12.9 billion in 2000, with continued growth expected in 2001 and beyond. The Internet travel booking industry has proved to be among the most adaptable to the Web. It is a hit among consumers, offering them convenience, control, and cost savings. Many suppliers are favorable towards the Internet, finding that it has helped to keep costs down, with the added bonus of increasing revenue. Acquisitions mark the rapidly changing online travel industry, including Sabre's purchase of GetThere.com in August 2000, Expedia's 2000 purchase of Travelscape.com and VacationSpot.com, and the EDS purchase of Sabre Inc.'s airline IT outsourcing business in March 2001. Though new travel Internet sites crop up frequently, others were challenged to become profitable (even before the travel market turmoil of September 2001) and shut their doors, including Amisto.com, once an adventure travel site, and Savvio.com, a former discount travel operation. It is estimated that there are upwards of 1,000 Web sites that target the travel market. Despite the breadth of travel-oriented sites, the industry is in a period of consolidation. There are two major types of Internet travel companies, online agencies like Expedia and Travelocity, and supplier sites that include airline companies like Southwest.com, hotels like Hilton.Travel is one of the leading segments among all e-tail businesses. The online travel industry not only provides an opportunity for consumers to book in new ways, but it also gives suppliers another, and very immediate, channel to sell excess capacity. According to the BTS, there are around 500,000+ empty airline seats a day. Further, industry sources suggest there are around 1 million vacant U.S. hotel rooms on any given evening. Internet travel companies like Priceline.com and Cheap Tickets hope to drastically reduce these vacancy rates. This report explores the hypothesis that: increases in online access equate to increases in online spending on travel-related products and services. Despite a tighter economy and flattening PC sales, online travel bookings will still grow as consumers look for deals on the Web. Consolidation will keep the market in the hands of just a few players-consumers will be drawn to those that have strong name recognition, yet offer the most choices and the lowest prices.

Reader review(s):

(none available)

{end of page}

(Page code from the SEO Tools, Toys, and Packages site)