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May 8, 2009
Online travel finally expected to decline
SHERMAN, Conn. (AP) — The recession is finally taking its toll on online travel, with a decline in revenues this year forecast by PhoCusWright, the travel industry research company.
PhoCusWright said the value of online leisure and unmanaged business travel bookings would drop 3 percent this year to $93 billion. The company said it was the first time since PhoCusWright began tracking the marketplace in 1998 that online travel has fallen year over year.
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