2010-01-27

Spanish Online Travel Holds Its Own in The Midst of Recession

Spanish Online Travel Declines Only Slightly, While Other Channels Struggle January 28, 2010 As one of the premier leisure travel destinations in Europe, Spain's economy suffered from the decline of both inbound and domestic travel amidst the global recession. The overall travel market fell 12% in 2009 according to PhoCusWright's Spanish Online Travel Overview Fifth Edition. Online travel sales, however, declined by only 1%, which is somewhat surprising for a market that remains well below the European average for online travel penetration. The decline was driven by supplier Web sites, while online travel agencies (OTAs) saw gains in bookings and market share. "While all travel segments contributed to the total market's decline, each travel industry vertical has experienced varying levels of consumer pullback," says Carroll Rheem, PhoCusWright director, research. "Car rental and hotel companies, particularly in Spanish cities like Madrid and Barcelona, have experienced some of the sharpest declines." The...

This post was originally posted by phocuswright @ PhoCusWright's FYI.
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