Abacus forecasts healthier 2010 as travel confidence returns

Abacus International expects a three to five per cent growth in travel bookings for the first half of 2010, signalling that the Asia-Pacific travel market is on the mend

  24/02/2010 08:31
President and CEO Robert Bailey said: “Travel confidence is returning. The Asia-Pacific air travel market (went into recession) quickly, suffered severely and now is seeing a slightly more rapid upturn and pick-up (compared to other markets).”

The GDS registered just a one per cent dip in overall bookings last year, far better than the six to nine per cent decline projected in early 2009.

Bailey said, corporate travel, which was pummelled by last year's economic crisis, will grow by 10 to 15 per cent this year, but on a low base. Structural changes instituted during the recessionary year, such as stricter travel policy compliance and changes in airline class, are however likely to continue this year.

Emerging markets, such as Indochina, Nepal and Kazakhstan, weathered the downturn more robustly than developed markets, and the online space also did particularly well last year. Abacus registered overall growth of more than 15 per cent in the online channel last year and has set a 20 per cent growth target for 2010.

(Sources: Ollie Quiniquini, Singapore)


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