Asia-Pacific is the world's fastest-growing market for digital travel
The growing number of international travelers, particularly in China, will bring benefits globaly from increased digital sales, say analysts
North America may be losing its lucrative appeal in the multi-trillion dollar travel industry.
Digital travel sales in Asia-Pacific will surpass North America in 2017, making it the largest region in the world, according to a new eMarketer report. Customers in Asia-Pacific will spend a projected US$216 billion next year, compared to North America's US$200 billion, representing growth of 23 per cent and 5 per cent, respectively.
Digital travel includes everything from booking online flights to hotels and tours.
Companies are taking note. Airbnb received funding to expand in India recently, while Ctrip, a travel services company, bought stake in Indian online travel agency, MakeMyTrip.
"The biggest opportunities for companies and startups will be in mobile and online travel agencies, as both will expand their share of online bookings," according to Chris Bendtsen, an eMarketer analyst. "For China in particular, the growing number of international travelers will allow travel-related companies all over the world to benefit from increased digital sales."
The largest trend driving the shift is Chinese consumers spending more overall on travel, combined with its continued mobile phone growth.