January 12, 2017 14:24 ET
NEW YORK, NY--(Marketwired - January 12, 2017) - Brexit. Trump. Terror. Amidst all the remarkable headlines, here's one nugget you might have missed last year: 2016 was the last year in which offline transactions accounted for a majority of European travel bookings. According to a new report from travel industry research authority Phocuswright - European Online Travel Overview Twelfth Edition -- offline channels captured 51% of European travel bookings in 2016. But despite the continuing importance of traditional travel agencies in several countries, European travelers are increasingly using online channels -- including mobile devices -- to book their trips, and the offline share will slip steadily in the years to come.
"There's no doubt that traditional travel agents and tour operators still represent a key distribution channel in Europe, particularly in markets such as Italy and Spain," says David Juman, Phocuswright director, research and editorial. "But it's getting tougher for them to compete, as online platforms offered by suppliers and powerhouse intermediaries like Booking.com and Expedia become ever more sophisticated, and consumers grow more comfortable researching and purchasing travel products with their smartphones."
According to the report, by 2020, the offline share of travel bookings will slip to 42%, while both OTA and online supplier bookings will gain significant market share. Online direct bookings will advance most dramatically, as suppliers across all segments and markets intensify their efforts to attract consumers directly, through loyalty programs, robust mobile offerings, deals and other incentives.
Phocuswright's European Online Travel Overview Twelfth Edition presents findings on the European leisure and unmanaged business travel markets, with sizing and projections from 2014-2020. Coverage includes analysis of the region's key segments and players, distribution dynamics and market challenges.
Regional analysis and trends are great. But since no two countries are alike, Phocuswright's European Online Travel Overview Twelfth Edition also encourages a deeper dive into country-specific sizing, trends and challenges of the U.K., Germany, France, Italy, Spain and Scandinavia. The research contains hundreds of data points and figures covering Europe's largest and most influential travel markets.
For detailed information relating to the paper or to speak with an analyst, please contact Eugene Ko at firstname.lastname@example.org or +1 860 350-4084 x475.
For more insights into the European travel market, attend Phocuswright Europe (16-18 May 2017 in Amsterdam). Network with the region's savviest leaders, explore new ideas and solutions, and get more business done in three days than you have all year. Press passes are available -- learn more.
ABOUT PHOCUSWRIGHT INC. (www.phocuswright.com)
Phocuswright is the travel industry research authority on how travelers, suppliers and intermediaries connect. Independent, rigorous and unbiased, Phocuswright fosters smart strategic planning, tactical decision-making and organizational effectiveness.
Phocuswright delivers qualitative and quantitative research on the evolving dynamics that influence travel, tourism and hospitality distribution. Our marketplace intelligence is the industry standard for segmentation, sizing, forecasting, trends, analysis and consumer travel planning behavior. Every day around the world, senior executives, marketers, strategists and research professionals from all segments of the industry value chain use Phocuswright research for competitive advantage.
To complement its primary research in North and Latin America, Europe and Asia, Phocuswright produces several high-profile conferences in the United States and Europe, and partners with conferences in China, Singapore and the United Arab Emirates. Industry leaders and company analysts bring this intelligence to life by debating issues, sharing ideas and defining the ever-evolving reality of travel commerce.
The company is headquartered in the United States with Asia Pacific operations based in India and local analysts on five continents.
Phocuswright is a wholly-owned subsidiary of Northstar Travel Media, LLC.
ABOUT NORTHSTAR TRAVEL GROUP (www.northstartravelgroup.com)
Northstar Travel Group is the leading provider of business-to-business news, information, data, transactions and custom content solutions for the travel, meetings and hospitality industries. Brands under the Northstar umbrella include Travel Weekly, Travel Weekly China, Travel Weekly Asia, TravelAge West, Business Travel News, Phocuswright, Meetings & Conventions, M&C China, Web in Travel and Inntopia. Northstar is the industry leader in marketing solutions, custom content communications, content licensing and database management serving the travel and meetings industries. The company produces more than 52 face-to-face events, taking place in North and South America, Europe, Asia and the Middle East. Northstar is based in Secaucus, NJ, and is a portfolio company of Wasserstein & Co. www.northstartravelgroup.com
ABOUT WASSERSTEIN PARTNERS IV (www.wasserco.com)
Wasserstein Partners IV is a mid-market buyout fund managed by WP Capital Management, the private equity investment company formerly associated with Wasserstein Perella Group and Wasserstein & Co. The firm manages capital on behalf of institutional and individual investors. Its investment activities are focused on the media and communications, consumer products and water and industrial sectors. WP Capital's investment team has completed 27 platform acquisitions and 49 add-on acquisitions over a 23-year period. WP Capital is located in New York.