20 September 2006

India to become a multi-billion dollar online travel market by 2008

Ahoy!! India is agressively moving forward and the latest report by Phocuswight has more to the story.

India’s rapid economic growth and rising prosperity are fueling multiple sectors of the economy, including lifestyle products such as travel and tourism. Two drivers increased business activity (including infrastructure improvement) and rising consumption of leisure travel services are firmly in place. All sectors of travel inbound, domestic and outbound are seeing double-digit growth rates, and the online travel market is set for a major boom with several catalysts coming into play almost simultaneously.

The online travel market in India will be the most dynamic in APAC, and will experience strong growth over the next five years. Unlike in China, where only 3% of Web-initiated travel transactions were fulfilled online, 95% of such transactions will be fulfilled online as the Indian market develops.

Thus, travel will emerge as a true e-commerce play, thanks largely to the fact that online travel has few legacy systems to transition, and thus the move online has been and will be more or less fully automated.

1 comment:

Balakrishna N A said...

Hi Nari,

Good snapshot on dynamic packaging.

Though its a new jargon for a cheaper and more flexible way of booking a holiday, never happens in real time due to various constraints in technologies and real time data. In terms of the customer/consumer, the premise is that dynamic packaging mimics the experience of visiting a travel agent and negotiating a deal the consumer wants.

Have you come across Travelberry ??
It is the first ‘dynamic packaging engine’ that allows travel companies and tour operators to pick their own XML / API / GDS suppliers and sell them through their web platform with unique layouts and added functionality.

Anyway keep you research ON

Balakrishna N A