Tourism Industry News
Spains online travel market declines only slightly
As one of the premier leisure travel destinations in Europe, Spain's economy Suffered from the decline of both inbound and domestic travel amidst the global recession. The overall travel market fell 12% in 2009 according to PhoCusWright's Spanish Online Travel Overview Fifth Edition.
Online travel sales, however, decline by only 1%, Which is somewhat surprising for a market that remains well below the European average for online travel penetration. The decline was driven by supplier Web sites, while online travel agencies (OTAs) saw gains in bookings and market share.
"While all travel segments contributed to the overall market's decline, each vertical travel industry has experienced varying levels of consumer pullback," says Carroll Rheem, director PhoCusWright, research. "Car rental and hotel companies, Particularly in Spanish cities like Madrid and Barcelona, have experienced some of the sharpest declines."
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