It’s 2011 and the travel industry is making a long overdue comeback. Tnooz recently posted an article; US travel activities sales forecast to outpace leisure travel growth, highlighting a new PhoCusWright study that points to a sizable opportunity in the online sales of travel activities, attractions, events and tours.
The report, When They Get There (and Why They Go): Activities, Attractions, Events and Tours, projects that U.S. online sales of trip activities will climb 13% in 2011 and 11 percent in 2012.
The sector’s growth pace would surpass that of U.S. online leisure travel, which is forecast to grow 8% and 9% in 2011 and 2012, respectively.
In fact, the study says, the $26.8 billion U.S. travel activities market grew faster than the U.S. leisure travel sales market during the economic woes of 2009 by 11 percentage points.
The study notes that the car rental ($14.2 billion), cruise ($12 billion) and packaged travel ($10 billion) sectors pale in comparison to the $26.8 billion U.S. trip activities market, although the latter is extremely fragmented and a portion of it isn’t addressable by the travel industry.
The PhoCusWright research report unravels the complexities of this diverse market, providing data and analysis to help travel companies understand its unique challenges and opportunities. Key topics include:
- Market sizing and forecasts for the U.S. travel activities market from 2008-2012, including breakouts by activity type
- Traveler behavior in relation to in-destination services, including research, shopping and booking trends; key drivers and inhibitors; and demographic patterns
- The role and impact of emerging technologies, including reservation and distribution technologies, social media and mobile
- Challenges and opportunities for travel suppliers, distributors and technology providers
In a nut shell the PhoCusWright study points to technology as a major differentiator in reaching the 2011 activity focused traveler. So, if you haven’t already looked into mobile, social, and web technologies now may be the time to start. At least it is if you want a piece of that 26.8 million dollar pie.