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The Global Edition Methodology

PhoCusWright research features both qualitative and quantitative research via ongoing executive interviews and consumer surveys, respectively. A global network of travel experts aggregates the data, culls responses and analyzes the findings to help PhoCusWright clients make competitively advantaged decisions.

MARKET SIZE AND FORECASTS
PhoCusWright has been tracking the financial results of the online travel industry since 1998. PhoCusWright estimates and forecasts cover online travel businesses in the U.S., Europe and Asia Pacific, including travel suppliers (airlines, hotels, car rental companies, packagers, railways and cruise lines) and online travel agencies. All figures are in U.S. dollars except where otherwise noted.

Consumer, unmanaged business travel and corporate travel services are included in the market size and forecast figures. Unmanaged business travel refers to all air, car and hotel expenses associated with business travel in firms that do not have a travel policy dictating the channel, type of travel, supplier or fare/rate uses. Corporate travel includes travel within companies that are governed by a corporate travel policy.

PhoCusWright builds its estimates and forecasts based on ongoing, in-depth discussions with more than 100 travel executives regarding their company's Internet sales, marketing and technology investments, challenges, strategies and expectations. Their responses have been vetted and aggregated by PhoCusWright's global network of travel experts to determine market size for supplier Web sites and online travel agencies. Additional data were obtained from financial documents and other company reports. Projections are based on company interviews, consumer research and market trends. PhoCusWright also considers historical growth and economic trends when developing its forecasts.

Estimates and projections are for gross bookings – the retail value of travel sold over the Internet – after cancellations. Figures for airlines are flown (passenger) revenue, also net of cancellations. Travel that is researched online but booked offline using the contact information available on the Web site is also included.

Total travel figures (online and offline) are used to determine Internet penetration for each market segment. Total travel figures may be derived from third-party sources, or are PhoCusWright estimates.