SOURCE: Phocuswright Inc.

October 01, 2007 10:54 ET

Spanish Online Travel Market Projected to Near 5.8 Billion EUR in 2008

PhoCusWright Releases Spanish Online Travel Overview Second Edition

SHERMAN, CT--(Marketwire - October 1, 2007) - According to a new report from PhoCusWright Inc., the Spanish online travel market is a growth driver for Europe as a whole, though it is increasing off of a relatively small base. The report, PhoCusWright's Spanish Online Travel Overview, provides an in-depth look of the Spanish travel market, including market size, forecasts and analysis, as well as the overall European market, for 2004-2006 and projects trends through 2008.

According to the report, the Spanish online travel market is evolving rapidly, approaching 3 billion EUR in 2006 and projected to reach 5.8 billion EUR by 2008. In 2006, Spain had the highest online travel growth rate, 62%, among the top five travel markets in Europe, and the online channel will continue its powerful growth through 2008.

Additional highlights of the Spanish online travel market include:

--  Spain's strong online travel market growth is partially due to the
    shrinking gap between Internet users and buyers, and the online space will
    continue to be dominated by the online travel agencies.
    
--  Spain is the number two world international destination in terms of
    both arrivals and revenues.
    
--  Local suppliers, particularly hotels, are fragmented and lag in online
    share.
    
--  Internet travel shopping adoption remains low, although online
    bookings growth is strong.
    

The individual markets of Europe, in particular the top five (U.K., Italy, France, Germany and Spain) demonstrate the variety of paths that developing e-commerce economies can take. Hence, PhoCusWright has undertaken a country-by-country research effort covering these five markets and the European market as a whole, resulting in six new reports, including PhoCusWright's Spanish Online Travel Overview.

Packed with numerous additional findings, the report is available at http://www.phocuswright.com/reports/spain for US$600 (425 EUR*).

*EUR is approximate and based on exchange rate as of September 28, 2007.

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