The size of the German online travel market is impressive – and growing 8% annually.
By 2020, online gross bookings will reach €34.2 billion, second only to the U.K.’s in Europe. A new Phocuswright report – German Online Travel Overview Twelfth Edition – provides data, analysis and insight into the German travel industry. The study covers travel market dynamics, and contains detailed information on all key segments.
“Consumer confidence in digital shopping and payment methods is increasing, which is solidifying Germany’s position as a leading online travel market,” says Ralph Merten, Phocuswright senior market analyst, Europe. “However, online penetration in Germany still lags the European average, as many travellers still utilise traditional travel agents to book packaged travel and cruises.”
Suppliers will control 59% of the online travel market in 2016, resulting in revenue of €14.8 billion.
Online travel agencies (OTAs) will lose share to travel suppliers over the next four years, as their strength in the hotel market wanes due to pricing policy regulations that favor suppliers, and more aggressive supplier efforts to drive direct online bookings. By 2020, OTAs’ share of the online travel market will slip to 38%.