Business Services Industry
Major fallout forecast for online travel sites, travel agents
Internet Business News, April, 2000
INTERNET BUSINESS NEWS-(C)1995-2000 M2 COMMUNICATIONS LTD
According to new research from Bear Stearns, the online travel industry is expected to quadruple its sales in the US to around USD29bn in 2003.
Yet this will have a major impact on online travel sites as up to 80% of sites could close due to this industry evolution. Traditional 'bricks and mortar' travel agents will also suffer with up to a quarter closing.
As customers become more-and-more comfortable with online booking - possibly even at source - and the commercialisation of online services increases competition and consolidation many familiar 'online faces' could disappear over the next couple of years.
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