Group travel to generate $175 bln by 2008
According to PhoCusWright, one of the key competitive areas for the online travel industry is in the groups and meetings market, which they say will represent $175 bln by 2008. Median spending for group gatherings is $1,800 (not including corporate meetings). On average, 19 individuals attend a gathering and that event typically lasts 3.5 days. The top 5 destinations for group travel include: Florida, California, Las Vegas, the Caribbean and Mexico. 55% of group travelers are traveling for a family reunion or function. Younger respondents (21-34) are more likely to plan friend reunions, school group/class reunions, Bachelor/Bachelorette parties, and concerts or other entertainment/spectator sport events.