The latest report from Hamburg-based business intelligence company yStats.com, “Asia-Pacific Online Travel Market 2016” includes a forecast that North American online travel sales will be exceeded by the Asia-Pacific region within a few years. The company’s CEO and founder, Yücel Yelken, observes “Online travel in Asia-Pacific is growing faster than in any other global region.”
A forecast cited in the yStats.com report tells of double digit growth in the region, supporting the prediction of surpassing the maturing North American online travel market. Online travel sales in the Southeast Asia sub-region lead the Asia-Pacific region in terms of growth rate, with a prediction of four-fold growth in the next 10 years.
The largest single online travel market in Asia-Pacific is China, and Ctrip is the country’s largest online travel agency. The increase in mobile travel bookings contribute to the growth in China as well as in Japan and South Korea, where a large portion of online bookings are done through a mobile device, according to the findings in the yStats.com report. While the growth rate in India has been over 50% in the last year, in some other economies the concept of online shopping for travel has not yet caught on.
A forecast cited in the yStats.com report tells of double digit growth in the region, supporting the prediction of surpassing the maturing North American online travel market. Online travel sales in the Southeast Asia sub-region lead the Asia-Pacific region in terms of growth rate, with a prediction of four-fold growth in the next 10 years.
The largest single online travel market in Asia-Pacific is China, and Ctrip is the country’s largest online travel agency. The increase in mobile travel bookings contribute to the growth in China as well as in Japan and South Korea, where a large portion of online bookings are done through a mobile device, according to the findings in the yStats.com report. While the growth rate in India has been over 50% in the last year, in some other economies the concept of online shopping for travel has not yet caught on.
