PhoCusWright has released the 2005 edition of their U.S. online leisure traveler study. The word from them is that though the online market continues to grow, it is growing a a slower rate.
U.S. online leisure travel growth is 26% in 2005, down from 29% in 2004 and 40% in 2003. This is a much higher rate than overall travel. Though online and offline travel growth will ultimately approach the same levels, currently online travel growth is four times offline growth.
Historically most of the growth of online travel has come at the expense of offline travel, but slow and steady growth of the overall market to pre-9/11 levels indicates that some of this growth is from the overall boost in the market.
Are you in the travel market? How is your business influenced by the growth of the online leisure travel market?