NEW YORK, Oct. 25, 2016 /PRNewswire/ -- A forecast referenced in the yStats.com report predicts that just below half of global travel sales will be online in 2016, as more consumers, especially 18 to 34 year-olds, utilize their smartphones to explore and book travel. The growth of the P2P sector of travel for accommodation and ride sharing is popular with the millennial generation, contributing to the sales growth while disrupting the traditional hotel and taxi businesses.
Forecasts of regional growth cited in the yStats.com report indicate that the rapid uptake in online travel sales in the Asia-Pacific will make it the leading global area in 2017, surpassing North America. Among the top 5 global online travel agencies, China has the fastest growing one, Ctrip, but Expedia and Priceline Group, based in the USA, lead the world in sales. Other world regions such as Africa, Latin America, and the Middle East lag the world leaders, as Internet penetration, smartphone use and traveler inclination to use online services are still emerging. In Europe, the online share of total travel sales is above the world average, but with wide variation by country as detailed in the new report.
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