The latest data from eMarketer on Sep 28 revealed that the emerging online travel markets of BRIC countries – China, India, Russia and Brazil – had become the ones with the fastest growth in the world.
China’s online travel sales reach $24.77 billion in 2011. It will surge to $32.51 billion in 2012.
According to the estimation in the report, filling out the top 5 fastest growth in online travel sales from 2011 to 2016 were the populous fast-growing BRIC countries, along with Korea. India has the highest CAGR (compound average growth rate), which is 30.6% while Korea is the second with the CAGR of 19.8%. The CAGRs of Brazil, China and Russia are 18.2%, 14.1% and 9.8%.
The report also anticipated that China’s online travel sales will reach $48 billion in 2016, which is much higher than that of the other three in BRICs. Based on the analysis, though the entire growth of India’s e-commerce is quite slow, the online travel is the exception since it contributes more than 75% to the e-commerce sales.
In the near future, we will see how the fastest developing economies drive the engine of online travel sales.