From 2005 to 2006, European online travel sales increased by as much as 31%, reaching 38.3 billion euros in 2006, with a 15% share of the market, up 12% (29.3 billion euros) from figures for 2005.
Further increases forecast for 2007
A further increase of about 22%, to around 46.8 billion euros (18% of the market), is expected during 2007. Likewise, the European online travel market could increase by another 8 billion euros (18%) in 2008, approaching the 55 billion euro mark.
Market share
The UK accounted for 34% of all European online travel sales in 2006, followed by Germany with a 20% market share. Direct sellers accounted for 69% of online sales, and intermediaries 31%. The market breakdown by type of service was as follows: air travel, 56%; hotels (including other types of accommodation), 16%; package tours, 16%; rail travel, 8%; and car rental (including car ferries), 4%.
Conclusions
The UK is still the largest online travel market in Europe, with Germany ranked in second place. These two countries accounted for 54% of the EUR 38.3 billion euros generated by the market in 2006. Growth was also high during 2006 (31%), and a further increase of 22% can be expected during 2007. The European online travel market (including the ten new EU member states) could reach the 54.8 billion euro mark by 2008, accounting for about 21% of overall sales in the travel industry.
