SOURCE: PhoCusWright Inc.
SHERMAN, CT--(Marketwire - Aug 23, 2012) - Sweeping changes in Asia Pacific (APAC) are remaking the region's travel marketplace -- and fueling sustained rapid growth of the online channel. According to a forthcoming report from travel industry research authority PhoCusWright, "Asia Pacific Online Travel Overview Fifth Edition" (www.phocuswright.com/products/4026), the outlook for the APAC travel industry remains bullish, with fierce competition in the high-growth online leisure and unmanaged business travel market.
"Asia Pacific continues to experience significant advancement in infrastructure, innovation and consumer appetite for travel," said Douglas Quinby, PhoCusWright's senior director, research. "Despite concerns about slowing overall economic growth in China and India, travel in the region -- and in particular online travel -- continues to experience rapid growth and change."
APAC continues to be the fastest-growing travel region globally. China's rising travel market will overtake Japan's by 2013 as the region's largest travel market. PhoCusWright projects high single-digit growth for the overall APAC travel market through 2013, when it will reach US$357 billion -- a 64% increase over 2009. Online gross bookings in the region will grow twice as fast as the total travel market to comprise 25% of the total market by 2013. Online travel agencies will be the fastest-growing online distribution channel, but the region's local incumbents will face greater competition from global online agencies and supplier websites.
- Sizing and forecasts of the total travel market and online leisure and unmanaged business travel bookings for 2009-2013
- Segmentation for four major APAC markets: Australia-New Zealand, China, India and Japan, plus Northeast and Southeast Asia regions
- Comparison of supplier-branded websites and online travel agencies, including key players, bookings and projected growth rates through 2013
- Analysis of key travel segments (air, hotel, rail and car)
- Examination of the online travel agency landscape -- local versus global players and strategic developments
- Review of social media and mobile trends affecting travel distribution
This pre-release report is scheduled to publish August 27, 2012.
ABOUT PHOCUSWRIGHT INC. (www.phocuswright.com)
PhoCusWright, the travel industry research authority, fosters smart strategic planning and tactical decision-making by delivering primary research on the evolving dynamics that influence travel, tourism and hospitality distribution. To complement its research in North America, Europe and Asia, PhoCusWright partners with and produces several high-profile conferences around the world.