We’re creating a more connected travel industry, underpinned by sustainability and long-term investor relations.
A recent report from PhoCusWright – which we co-sponsored – revealed some fascinating trends including a projection that the total online travel market in the UAE will grow from $4.8bn in 2011 to $9.5bn in 2014.
The report – Assessing The Online Travel Opportunity: The Middle East – which was released late last year also revealed that the UAE has emerged as the most mature market for travel and tourism, owning 47% of the total market and 60% of the online market in the Middle East.
It was further revealed that gross bookings made by Online Travel Agencies (OTAs) are expected to rise from $1.7bn in 2011 to $3.2bn in 2014. The increase in the number of bookings made by Online Travel Agencies in the region not only highlights a definite shift from traditional booking methods but also demonstrates the evolution and expansion of the industry as a whole.
It is evident, therefore, that technology companies must prioritise providing the industry with the right tools to support the growth of the online travel sector.