Study: TripAdvisor Gives Travel Industry a Boost
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According to a study by Oxford Economics, the travel review website TripAdvisor has given the travel industry a huge economic boost.
TripAdvisor’s reviews in 2014 influenced consumers to spend $478 billion on travel, the equivalent of about 352 million room nights, the company told Tnooz.
That $478 billion includes $64 billion of additional money spent on travel that came directly from TripAdvisor, the company’s website said.
The $64 billion that came directly from the website “would not have taken place without TripAdvisor,” the company told Tnooz.
The study also found that the money spent on travel that was inspired by TripAdvisor helped 1.9 million people around the world keep their jobs, Tnooz reported.
The study also revealed that as content is uploaded to TripAdvisor’s website, the number of trips to a destination increases.
Tnooz reported TripAdvisor as saying: “What is interesting is that TripAdvisor is having two notable effects on travel spending. On the one hand, visitors are saving money per day by using the site to find better value options, while on the other hand the confidence they gain through reading reviews leads to an increase in both the number of trips they make and how long those trips last for.”
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