SHERMAN, CT PhoCus Wright, an independent Internet travel intelligence company, has released The European Online Travel Marketplace, 2000-2002. This report reveals that the European online travel market will soar from $2.9 billion in 2000 to $10.9 billion in 2002, representing a 300% two-year gain.
Factors contributing to this growth were continuing strides in Internet and wireless usage; the breakdown of e-commerce barriers such as bill payment, security, and privacy concerns; improved telecommunications; and the influx of new and improved online travel services. The emergence of the Internet and online commerce in Europe coincides with the rise of the European Union (EU) and the adoption of the euro. (1/8/01)