The European online travel market will sustain double-digit gains in 2012, despite anemic growth for the region's travel industry, according to the new report PhoCusWright's European Online Travel Overview Eighth Edition. Amid ongoing economic turmoil, the European travel market will grow just 2.5% – half as fast as the previous year – to reach €242 billion.
The European online leisure/unmanaged business travel market will grow 10% in 2012, down from 17% the previous year.
The rise in online sales has largely been driven by online travel agencies (OTAs), which present an appealing option for budget-minded consumers venturing online in search of deals. OTAs will grow 13% in 2012, with supplier websites gaining just 8%.
"Europe's online travel market continues to outpace the overall market, but growth will decelerate across all channels over the next two years," said Carroll Rheem, senior director, research. "This is partly due to general economic...