SHERMAN, CT -- (Marketwired) -- 06/20/13 -- A potent cocktail of contradictory forces is driving change in the European corporate travel space -- along with intense competition for market share, according to a new PhoCusWright report (www.phocuswright.com/products/4253). Against a backdrop of ongoing corporate austerity measures, empowered travelers and new technology solutions, suppliers and intermediaries are at cross purposes as they vie for a piece of the managed travel market.
"Suppliers are beefing up their services and incentives in an effort to drive direct business with corporate customers and rein in their distribution costs," said Norm Rose, senior technology and corporate market analyst with PhoCusWright. "At the same time, GDSs are pushing in the other direction, aggregating content in a play to provide a single, unified booking environment for all travel products."
Modest growth is projected for Europe's managed corporate travel market, with gains in the 2-4% range through 2014, when gross bookings will exceed EUR 41 billion. However, double-digit growth in online bookings will continue to fuel share shift in the managed travel marketplace. Half of all managed travel will be booked online by 2014, up from 37% in 2010.
"PhoCusWright's European Managed Travel Distribution: Market Sizing and Trends" provides a comprehensive analysis of the European corporate travel marketplace. The report includes market sizing and forecasts through 2014 and identifies the corporate travel and technology trends that are transforming the managed travel landscape.
•Managed corporate travel market sizing (with projections through 2014), including share of the total European travel •Sizing and analysis for France, Germany, Italy and the U.K. •Online penetration and the use of online booking tools in the corporate travel marketplace •Intermediary versus supplier-direct bookings, with projections through 2014 •Corporate travel spend across key expense categories -- air, hotel, car rental and rail •Key European corporate travel and technology trends, including: trip optimization, the role of procurement, responses to the consumerization of corporate travel, the rise of the end-to-end solution, social media, data analytics and mobile
ABOUT PHOCUSWRIGHT INC. (www.phocuswright.com)
PhoCusWright, the travel industry research authority, fosters smart strategic planning and tactical decision-making by delivering primary research on the evolving dynamics that influence travel, tourism and hospitality distribution. To complement its research in North America, Europe and Asia, PhoCusWright partners with and produces several high-profile conferences around the world.
Add to Digg Bookmark with del.icio.us Add to Newsvine
+1 860 350-4084
Most Popular Stories
- Crimean Referendum Violates International Law: Obama
- Social Media Can Help a Company's Credit Line
- Fuentes Makes NAHREP's Top 10 List
- Alfredo Ramos Martínez, Mexican Muralist, Symposium at Scripps
- Juanes Back to Singing About Love
- Hispanic Unemployment Eased in February
- Darrell Issa Apologizes to Elijah Cummings
- Florida Insurers Reach Out to Hispanics
- 2 Million Long-term Jobless Have No Benefits
- Boeing Freezes Nonunion Workers' Pensions