Digital travel sales in Asia-Pacific are set to surpass those in North America next year to become the largest regional market in the world. According to eMarketer
’s latest forecast, digital travel sales in APAC will grow by more than 21% next year, reaching $215.9 billion, compared with the North America’s $200.4 billion.
Wwith a projected spend of $180.59 this year, the U.S. has the largest digital travel sales market in the world. While the U.S. is more than double that of China, it is not expected to keep this lead for much longer; by 2020 digital travel sales in China will reach $198.5 billion, less than $15 billion behind the U.S. This strong growth is thanks to heavy activity within China, which this year is expected to grow by 36% to reach $95.3 billion. As has happened with the retail ecommerce market in China, high levels of mobile adoption, combined with a growing middle class that likes to take trips, have led to a booming digital travel market.
“Travel demand in China is showing no signs of slowing down,” said Chris Bendtsen, eMarketer forecasting analyst. “Consumers in China are now able to take advantage of the rising disposable incomes and simplified visa policies that have been progressing over the past few years.”
Source: eMarketer Press Release