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02 Aug 2017

BY Matthew Parsons

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UK takes top spot in western Europe, spending £26bn on online travel in 2017

Within Europe, the UK has the largest market – with spend reaching £26.24 billion this year, a yearly growth of 7.2%. The UK now accounts for 5.8% of worldwide travel sales, according to research from eMarketer.

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UK to spend £26bn on online travel in 2017

In Germany digital travel sales will reach £20.7 billion, a growth of 4.2%, while in France, digital travel sales will reach £15.4 billion, a growth of 4.1%.

 

The sales, which include airline, car rental, cruise, hotel, accommodations (including Airbnb) and transportation, will reach £106 billion this year for the overall western Europe region, a yearly growth of 5.7%.

 

From a global perspective, only North America’s expected increase of 5.1% will be less robust than western Europe’s this year, with both regions well below the 11.7% increase anticipated worldwide. Because of the slowdown, western Europe’s share of global digital travel sales will shrink 1.3 percentage points to 23.1%.

 

Throughout western Europe, digital travel spending preferences will continue to evolve, eMarketer adds, with "digitally derived accommodation options like Airbnb continuing to attract converts".

 

Jaimie Chung, forecasting analyst at eMarketer, said: “Airbnb is growing quickly in western Europe, albeit from a small base, in large part because of travellers’ increasing independence and desire to live like a local. The company has some legal hurdles—not unlike in the US—but we’re seeing expansion to the major cities. We’ll have to see if they continue to grow after all of the low-hanging fruit is picked.”

 

EMarketer’s forecasts and estimates are based on an analysis of quantitative and qualitative data from research firms, government agencies, media firms and public companies, plus interviews with top executives at publishers, ad buyers and agencies.

 

Data is weighted based on methodology and soundness. Each eMarketer forecast fits within the larger matrix of all its forecasts, with the same assumptions and general framework used to project figures in a wide variety of areas. Regular re-evaluation of available data means the forecasts reflect the latest business developments, technology trends and economic changes.

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