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Digital travel sales in Asia-Pacific will rise by almost 20% to $139.12 billion in 2015, according to eMarketer’s latest forecast for digital travel sales around the world.
This rapid growth, fueled by heavy activity within China, is set to continue, and Asia-Pacific will surpass Western Europe next year and North America in 2018, when it will become the largest digital travel sales market in the world.
As with retail ecommerce, China’s digital travel market once again leads the region thanks to a massive population, a rising middle class who enjoys traveling, and with high levels of mobile adoption. In 2015, China will generate $65.85 billion worth of digital travel sales, representing yearly growth of 28%. Sales are set to rise to $131.30 billion in 2019.
eMarketer forecasting analyst Christopher Bendtsen commented, “Although China’s economy is slowing down, China’s total travel sales are expected to increase dramatically as the growing middle class find travel more affordable.
“Mobile booking’s rising popularity, combined with the success of online travel agencies, will fuel even more significant digital travel sales growth there. India and the major developing countries in Southeast Asia will witness similar trends. This creates huge opportunities in the digital travel space, and in particular, mobile.”
eMarketer’s forecasts and estimates are based on an analysis of quantitative and qualitative data from research firms, government agencies, media firms and public companies, plus interviews with top executives at publishers, ad buyers and agencies. Data is weighted based on methodology and soundness. Each eMarketer forecast fits within the larger matrix of all its forecasts, with the same assumptions and general framework used to project figures in a wide variety of areas. Regular re-evaluation of available data means the forecasts reflect the latest business developments, technology trends and economic changes.
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