Saudi Arabian residents are showing record growth in online travel sales, reaching SR6.5 billion ($1.73 billion) in 2015, with the figure set to double to SR13 billion ($3.46 billion) by 2019.
Saudi Arabia leads the Middle East in terms
US-based Expedia has acquired online travel agency Travelocity from technology company Sabre Corp for $280 million in cash, the companies said in a statement on Friday, as consolidation in the online booking industry continues.
Travelport, a top provider of transaction processing solutions, will feature cutting-edge technology showcases, a major seminar and several high profile announcements at the upcoming Arabian Travel Market (ATM) in Dubai.
Online travel bookings in the UAE are expected to double to $9.4 billion by 2014 from $4.7 billion in 2011, a report said.
New figures from the study – carried out by global travel market research company PhoCusWright and co
The online air travel sector will experience a 13 per cent compound annual growth rate (CAGR) between 2010 and 2015 in the region, said a report.
Online hotel sales in Middle East and Africa over the period will grow by more than 12 per ce