UAE’s online travel industry to exceed US$9bn by 2014
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PhoCusWright recently conducted a new research on the online market in the Middle East titled – ‘Assessing The Online Travel Opportunity: The Middle East’.
As per the report, the UAE has emerged as the most mature market for travel and tourism, owning 47% of the total market and 60% of online market in the Middle East.
The report covered the growth and potential of the online travel segment across markets including the UAE, Saudi Arabia, Egypt and Qatar.
According to projections, the total online travel market in the UAE will grow from US$4.8 billion in 2011 to US$9.5bn in 2014, highlighting a breakdown of 31% rise in 2012, 24% in 2013 and 22% in 2014.
Smartphones represent 62% of total mobile phones in the UAE. The report cited that 43% of these users browse the internet for travel-related information and 54% make an online purchase. It was further revealed that gross bookings made by Online Travel Agencies (OTAs) are expected to rise from US$1.7bn in 2011 to US$3.2bn in 2014.