SOURCE: Phocuswright Inc.

October 01, 2007 10:55 ET

U.K. Online Travel Market Projected to Near 20.1 Billion EUR in 2008

PhoCusWright Releases U.K. Online Travel Overview Second Edition

SHERMAN, CT--(Marketwire - October 1, 2007) - According to a new report from PhoCusWright Inc., the U.K. online travel market, like that of Europe as a whole, is marching relentlessly in the footsteps of the U.S. online travel market. The report, PhoCusWright's United Kingdom Online Travel Overview Second Edition, provides an in-depth look of the U.K. 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 U.K. online travel market surpassed 13.6 billion EUR in 2006. By 2008, the online channel is expected to comprise 48% of the overall market, but growth rates are projected to settle into the 20% range. Overall, the U.K. online travel market has been strengthened by market developments on the supply side, which are fueling an ongoing demand-side boom for travel products and services that will continue into the long term.

Additional highlights of the U.K. online travel market include:

--  Fueled by demand for experience-based shopping and research, the Long
    Tail is also manifesting itself in travel niche sites that, taken as a
    whole, rival or surpass the influence of the traditional giants.
    
--  Specialist travel companies and tour operators are offering
    differentiated travel experiences and pursuing an Internet presence, and,
    as the U.K. travel shopper evolves, even the mass market travel tour
    operators are investing in experienced-based travel brands.
    
--  After a decade of leading the migration of the European traveler to
    online purchase channels, the U.K. traveler is ready to go beyond price and
    the simple air/car/hotel purchase and enter the realm of shopping for
    experiences.
    
--  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 United Kingdom Online Travel Overview Second Edition.

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

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

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