28 Feb '11, 1pm

Online travel booking market in AsiaPac to grow by 40%

Online travel booking market in AsiaPac to grow by 40%

SINGAPORE: The online travel booking market in Asia Pacific is expected to hit a value of US$51.6 billion this year and will grow by 30 to 40 per cent a year going forward. This is according to industry sources, like PhoCusWright and Expedia, that look at the online travel market in Australia, China, Japan, India, Indonesia, Malaysia, New Zealand, Singapore and Thailand. Market players said this is in contrast to the more mature US market which is growing at five per cent a year. More companies are also expanding their businesses here to tap that growth potential. Singapore meanwhile, is expected to grow around 20 per cent to reach a value of US$1.5 billion in the online travel market this year. One of the leading online travel booking companies, Expedia, will be launching country-specific websites in what it sees as growth markets. Singapore, Malaysia, Thailand, Korea and...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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