Page 48 - WTM Cities Report

RAIL REvOLUTION
Rail is big business, but not everywhere (yet). In Europe, 12.6% of all outbound and domestic trips are made via rail, while this is 27.4% in Asia. In contrast, only 3.9% of trips in MEA, and 3.8% in the Americas, are made using rail.
Importance of rail highlighted by SilverRail acquisition
In May 2017, rail ticketing and distribution platform SilverRail entered into a de nitive agreement with internet travel rm Expedia, the latter now holding a majority stake in SilverRail. With a mission to improve the online experience of rail customers, SilverRail processes over 25 million bookings per year. Expedia’s former CEO Dara Khosrowshahi stated during his tenure that “rail is ready for an online revolution.”
Especially in Europe and Asia, rail is an important transportation mode. Expedia’s investment in SilverRail shows that the internet rm believes in the growing importance of
rail and integrating rail on its “ ight-heavy” platform. It is an important move for rail, as better online accessibility will reduce the barrier to usage by customers.
© 2017 Euromonitor International 45