Germany-based secondary market research firm yStats.com released a new report titled “Asia-Pacific Online Travel Market 2016”. According to yStats.com’s CEO and founder, Yücel Yelken, the report unveils that Asia-Pacific is predicted to become the largest online travel market in a few years’ time, surpassing North America.
Online travel sales are growing rapidly across Asia-Pacific, leading to the prediction that this region will soon overtake North America as the largest online travel market worldwide. The forecast cited in the yStats.com report reveals that the share of this region in global online travel sales will increase considerably, supported by strong double-digit growth, the highest among all global regions. The most stunning growth is expected in Southeast Asia, with online travel sales there predicted to quadruple in next 10 years.
The yStats.com report highlights China as the largest online travel market in this region. Outbound travel and mobile bookings are the two driving forces for China’s market, with Ctrip as the largest online travel agency. The mobile trend is also prominent in Japan, where close to a third of all travel bookings were made via mobile in 2015, and in South Korea, where this share was even higher. The online travel market in India grew at rates of over +50% in 2015 and 2016, while in some other emerging markets, such as Thailand and Vietnam, the popularity of travel as an online shopping category is yet to catch up.