Assistant Editor’s Note: The following excerpt is from a CNN Money article, by Katherine Ryder.
As industry players adjust their strategies for the next decade — forging new partnerships, leveraging social media and mobile technology, exploring new business lines — one thing seems clear: the fragmented and largely untapped Asian market is a golden opportunity. Online travel bookings accounted for just 22% of the Asian market in 2010, well below the 32% in Europe or the 38% in the United States, according to PhoCusWright, a travel consultancy. And analysts predict that while online travel in the West is leveling off, Asia’s industry is just taking off — particularly in India and China…
The World Tourism Organization predicts that the global tourism industry will add 66 million jobs by 2020, 50 million of which will be in Asia. The online travel industry stands ready to capitalize on this boom — but who will reap the rewards?
For a further analysis of the Chinese and Indian leisure travel markets, and which global companies are already positioning themselves to cater to them, read the entire article.