The Online Travel Industry is headed for...
Did you know that travel is not only the most searched topic on the internet, it is the world’s largest and fastest-growing industry. Nationwide travel already amounts to more that $1.3 Trillion yearly, and worldwide travel currently tops $7 Trillion. It is growing 23% faster than the global economy and is expected to double to $14 Trillion by the end of the decade.
Baby Boomers are retiring at a rate of about 1 every 8 seconds for the next 18 years.
What do they want to do when they retire? The vast majority answer “travel” on questionnaires. They’ve saved up for it and they are ready to go where they never had the time or money to go before. The average American family spends $4,200 each year on vacations.
This is going to be the biggest travel boom in history! I am at the end of that baby boom generation and I can see that the majority of Americans are going to be booking their own travel at home on their own websites. So this is where I see the online travel industry going!