U.K. Online Travel Market Maintains Growth During Recession

U.K. Online Travel Market Maintains Growth During Recession According to PhoCusWright’s European Online Travel Overview Fifth Edition November 6, 2009 Even as the U.K. travel market struggles under the weight of global economic pressure, online travel bookings are projected to increase by 3% in 2009 according to PhoCusWright's European Online Travel Overview Fifth Edition. With online leisure and unmanaged business sales of nearly £17.1 billion, nearly half of the U.K. travel market is booked online. U.K. online leisure and unmanaged business travel penetration grew by five percentage points to reach 45% of all bookings in 2009. The overall U.K. travel market is expected to contract by 8.9% in 2009. Gross bookings will fall to approximately £37.6 billion for the year. Nearly all segments of the mar­ket have been affected, although traditional carriers and hotels are bearing the brunt of the slowdown. The short-term outlook remains bleak, with a return to...