Online travel sales in Asia to grow 90 percent in 10 Years
SINGAPORE (August 12, 2008) – Online travel sales in Asia will grow about 90% over the next 10 years, say industry experts, with China, India, Indonesia, Hong Kong and Vietnam leading the way.
SINGAPORE (August 12, 2008) – Online travel sales in Asia will grow about 90% over the next 10 years, say industry experts, with China, India, Indonesia, Hong Kong and Vietnam leading the way. According to exhibitors of the inaugural ITB Asia event, the new B2B travel trade show to be held in Singapore, October 22-24, a majority of the cyber sales are expected to come from current customers aged up to 25 as they gain more spending power over the next decade.
“There is going to be a huge increase in online travel, and many global players have recognized the economic potential of the market, as well as the importance of maintaining service quality,” said Neelu Singh, chief operating officer of India-based Ezeego One Travel & Tours Limited.
According to the Pacific Asia Travel Association, regional tourism is expected to soar with nearly 500 million visitors arriving by 2010, generating US$4.6 trillion in revenue. The World Travel and Tourism Council (WTTC) and global management consultancy, Accenture, expect the hospitality industry to be worth US$15 trillion in the next ten years. Hotels now have to keep up with the growing competition by aggressively embracing technology.
“It (technology) provides them not only with a competitive edge, but also helps to protect their assets, brand equity and drives innovation,” said Oliver Winzer, regional director of IT Asia, Amadeus Hospitality Business Group, a global technology and distribution solutions provider for the travel industry. “In a world which is literally run by technology, it is imperative that one sustains the growth and invests intelligently to generate better yields and revenue,” he said.
ITB Asia will have a Travel Technology pavilion and delegates are also being offered preferential rates to attend the “Web in Travel” travel technology event which takes place October 21-22, also in Suntec Singapore. The key theme is how technology will change the way we communicate and travel in the future.
“Most successful travel companies now embrace innovative technology solutions and online sales,” said Dr. Martin Buck, director of Messe Berlin (Singapore), the organizers of ITB Asia. “Our role is to convene a great travel trade event that shows exhibitors and travel buyers how to get their share of the future of travel.”
ITB Asia will cater to the three major sectors of the travel industry: holiday travel, business travel, and the meetings, or ‘MICE,’ sector. About 5,000 members of the travel industry are expected to attend the premiere of ITB Asia. Floor space is already sold out with exhibitors confirmed from 42 countries.
ITB Asia will take place, for the first time, at Suntec Singapore on October 22-24, 2008. It is organized by Messe Berlin (Singapore) Pte Ltd. in conjunction with the Singapore Tourism Board. The event will feature up to 500 exhibiting companies from the Asia-Pacific region, Europe, the Americas, Africa and the Middle East, covering not only the leisure market, but also corporate and MICE travel. It will include exhibition pavilions and tabletop presence for small and medium-sized enterprises (SMEs) providing travel services. Exhibitors from every sector of the industry, including destinations, airlines and airports, hotels & resorts, theme parks & attractions, inbound tour operators, inbound DMCs, cruise lines, spas, venues, other meeting facilities and travel technology companies are all expected to attend.
WIT stands for Web In Travel. It is Asia’s leading travel distribution, marketing and technology conference. WIT 2008 is being held in association with PhoCusWright, Inc. and in partnership with ITB Asia. Its hospitality partner is HSMAI Asia Pacific. WIT’s 2008 theme is “Ideas. Execution. Action.” As always, expect hard-hitting interviews, lively debates, thought-provoking panels, insightful case studies and audience voting sessions. WIT 2008 will be held at Auditorium, Level 2, Suntec City, Singapore.
For more information: www.webintravel.com
For additional details: www.itb-asia.com