Author: Carl Henrik Marcussen.
Online travel sales increased by 17% from 2007 to 2008 and reached EUR 58.4 billion in the European market in 2008 – or 22.5% of the market (up from EUR 49.8 bn. or 19.6% in 2007). A further increase of about 12% during 2009 to about EUR 65.2 billion may be expected (25% of the market). The UK accounted for 30% of the European online travel market in 2008, with Germany in second place at 18%. The direct sellers accounted for 64% of online sales in the European market in 2008, intermediaries 36%. In 2008 the breakdown of the market by type of service was as follows: Airtravel 54%; Hotels (and other accommodations) 19½%; Package tours 15%; Rail 7½%; Rental cars (and car ferries) 4%. In the last quarter of 2008 a significant slowdown in the European economy set in, which will affect the European travel market during 2009.