June 21, 2018
Travelers losing interest in home-sharing
According to MMGY Global’s Portrait of American Travelers study, just 33% of respondents are interested in sharing economy accommodations, down from 41% in 2017 and 37% in 2016.Read more
According to the latest PhoCusWright data, only 3.5% of traffic to OTA and hotel websites comes from social networks like Facebook and Twitter. What's more, even the largest travel specific social networks like Gogobot and WAYN combined are insignificant in terms of overall use and referred traffic.
Given that social media in general generates so little traffic to travel websites, do we need dedicated social media sites for travel?
So how come so many startups have popped up and continue to get funding to solve problems that a) don’t exist and b) are not revenue generating. Where is the social travel sweet spot?
If you take the PhoCusWright results at face value, it would appear that the gold is on the mobile sharing side since that seems to be the activity with the highest engagement with travelers. The issue remains, however, whether there is enough gold to split between the behemoths of social media and some unknown startups.
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