UAE’s US$32 bn travel market charts growth: Travelport
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Travelport recently revealed significant travel industry forecasts for the UAE and Middle East. As per the report, the industry will witness double digit annual revenue growth expected from online travel in the next five years.
With 29% online saturation, UAE currently outpaces that of the total region at 25%. Online travel bookings, which represent 25% of all bookings in the Middle East, are forecast to grow in 2015 and 2016 to reach 36% by end of 2017 when online revenue is expected to reach US$35 billion. Offline sales are forecast to continue to grow from US$54 bn in 2014 to US$63 bn in 2017.
The research also revealed that a host of ‘hybrid’ travel agents- those whose transactions take place online and offline – are expected to emerge as successful regional agents.
Rabih Saab, Travelport’s president and managing director for Africa, Middle East and South Asia said: “We can see from this new research that the Middle East’s travel industry is buoyant and poised for growth which is very encouraging for our customers.”
In the UAE, 72% of all flights for leisure were researched online but only 34% were purchased online. The research shows there is potential for a mobile breakthrough in the Middle East.
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