Germany’s thriving economy is translating to a strong travel market. But while the overall market thrives, online penetration and bookings show room for growth as the German people become more comfortable booking on their mobile devices. A new report from travel industry authority Phocuswright, German Online Travel Overview Eleventh Edition, explores Germany’s travel market dynamics and contains detailed information on all segments in the region.
Germany remains Europe’s largest travel market, with gross bookings reaching €57.9 billion in 2015, a 2.2% increase over 2014. Rising consumer confidence will lead to continued gains, with travel revenue achieving €59.8 billion in 2017.
Online travel market growth
The Internet is becoming a critical travel research and booking tool. Germany offers widespread broadband availability and 87% of the German population has Internet access. Nearly two thirds of German consumers have used the Internet at least once to research travel information, while 41% have gone online at least once to book travel.
“Germany is Europe’s largest travel market, yet because of its relatively low online travel penetration, there is much potential for growth,” says Phocuswright senior market analyst, Ralph Merten. “Online travel bookings increased to €23.9 billion in 2015, yet online penetration to 41% – well below the 47% European average. But Germans demonstrate increasing confidence both researching and purchasing travel online as smartphone penetration increases.”
Online Travel Agencies
Online travel agency (OTA) gross bookings reached €10.1 billion in 2015. But with increased regulatory scrutiny of their practices, OTA growth is likely to slow in coming years.
Phocuswright’s German Online Travel Overview Eleventh Edition presents findings on the German leisure and unmanaged business travel markets. It provides data, analysis and insight into the German travel industry, and projects future performance through 2017.
