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A Glance at the Future of Online Travel Industry

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A Glance at the Future of Online Travel Industry Powered By Docstoc
					?The Internet which was virtually unknown to masses a couple of decades ago has
now become the life blood of many economies and societies. This global phenomenon
has brought the human kind closer than ever before. Ranging from information
websites to novel concepts of social networking, Internet has become a way of life for
many people.

According to Internetworldstats.com only 16 million people used the Internet in 1995,
where as today over 1200 million surf the cyber space which amounts to nearly 20%
of the world population. The growth of the Internet has created a whole new
dimension in doing business as well. The speed of information and the convenience
has made online a promising venture for many markets.

In travel industry around a decade ago, travel agents had a better say when it came to
selling travel solutions than its original providers such as airlines and hotels etc. But
today the increased use of online travel has made it easy for the consumer to plan and
book their travel needs easily on their own over the Internet. Hotels, airlines and other
travel service providers are able to directly get in touch with customers through the
Internet.

Online travel portals and websites also have an upper hand over conventional travel
agents on costs as well. The traditional travel agent requires more manpower and huge
investments to expand its business where as an online portal can get in touch with the
whole world through a single domain purchase. However, the intense competition
among online travel portals and various hospitality websites have reduced
intermediary commission rates thus offering far more economic value to online
transactions.

Internet research firm Jupiter Research predicts that by 2009 roughly one third of all
U.S travel revenues will be handled via Internet. Other parts of the world such as
Europe and emerging giants such as India and China will also contribute heavily to
the growth of online travel industry.

With the growing number of Internet users and the boom in travel industry in many
emerging economies will continue to contribute to the growth of online travel industry
in coming years.


About the Author and Company ,

Naveen Marasinghe is an e-marketing executive at eMarketingEye(Private) Ltd.
eMarketingeEye is an Internet marketing agency offering integrated Internet
marketing solutions, specializing in serving the online travel and hospitality industry.
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posted:4/9/2011
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