OTA Gross Bookings in Latin America Will More Than Double by 2012
PhoCusWright Report Uncovers Key Dynamics Driving Growth in Latin America's Diverse Online Travel Marketplace
A new report from PhoCusWright reveals that, despite the global economic slowdown, the Latin American online travel marketplace is bursting with potential, and is poised for double-digit growth in the future. The travel research authority projects that online travel agencies (OTAs) will double their gross bookings to approximately US$5 billion in the next two years.
PhoCusWright's Latin America Online Travel Overview (http://phocuswright.com/store/1586) explores the characteristics and dynamics that drive this diverse market, including recent efforts by global OTAs to carve a niche for themselves in the region.
"Until recently, regional and local online travel agencies have dominated, and global OTAs found it challenging to unlock the potential of this complex, unique market," says Patricia Rasore, director, Latin America at PhoCusWright. "But in 2010, global players stepped up their efforts in the region, specifically by targeting the highly fragmented hotel space. And they've had some remarkable results. However, it's unclear whether they have what it takes to understand and leverage the similarities and differences between the extremely diverse countries that comprise the Latin American market."
Based on nearly 100 interviews with travel suppliers, intermediaries, technology providers and media sites, PhoCusWright's Latin America Online Travel Overview lays the groundwork for understanding this dynamic marketplace. The report reveals the current state of the market, along with projections and insight into the years ahead.
With extraordinary OTA growth projected for the next several years, and a tremendous opportunity looming in the lodging segment, Latin America is set to make its mark on the global online travel marketplace. PhoCusWright's Latin America Online Travel Overview provides the numbers and knowledge necessary to unleash the potential of this emerging, but extremely promising market. Early-bird pricing is available through April 25. Contact Cathy Schetzina to request a press review copy of the report.
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