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Viewing A Glance at the Future of the Online Travel IndustryA Glance at the Future of the Online Travel Industry
By emarketingeye
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Here is a brief look into the future of the online travel industry and the implications it may have in traditional travel marketing methods. The Internet has become the lifeblood of many economies and societies. Nearly 20% of the world surfs the Net. The Internet, which was virtually unknown to masses a couple of decades ago, has now become the lifeblood of many economies and societies. This global phenomenon has brought human kind closer than ever before. Ranging from information websites to novel concepts of social networking, the Internet has become a way of life for many people. According to Internetworldstats.com, only 16 million people used the Internet in 1995, whereas today over 1200 million surf through cyberspace, which amounts to nearly 20% of the world's population. The growth of the Internet has created a new dimension in doing business as well. The speed of information and the convenience has made online a promising venture for many markets. In the travel industry around a decade ago, travel agents had a better say when it came to selling travel solutions than original providers such as airlines and hotels. However, today the increased use of online travel sites has made it easy for the consumer to plan and book their travel needs easily on their own over the Internet. Hotels, airlines, and other travel service providers are able to get in touch with customers directly through the Internet. Online travel portals and websites also have an upper hand over conventional travel agents on costs. The traditional travel agent requires more personnel and huge investments to expand its business, whereas an online portal can get in touch with the whole world through a single domain purchase. However, the intense competition among online travel portals and various hospitality websites has reduced intermediary commission rates, thus offering far more economic value to online transactions. Internet research firms predict that by 2009 roughly one third of all U.S travel revenues will be handled via the Internet. Other parts of the world such as Europe and emerging giants such as India and China will also contribute heavily to the growth of the online travel industry. With the growing number of Internet users and the boom in the travel industry, many emerging economies will continue to contribute to the growth of the online travel industry in coming years. About the Company eMarketingeEye is an Internet marketing agency offering integrated Internet marketing solutions, specializing in serving the online travel and hospitality industry. (http://www.emarketingeye.com). Article Source: 1st Rate Articles - http://1stRateArticles.com |
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