Despite the dot-com bubble's bursting and the travel industry's near-derailment in the past few years, online travel companies have shown surprising resiliency. We at Standard & Poor's Equity Research Services believe that most large Internet travel businesses have actually prospered since 1999. This success largely reflects the undeniable trend that more consumers and businesses are increasingly buying trips on the Web. According to online travel research firm PhoCusWright, the Internet will account for about $50 billion in U.S. travel bookings in 2003.

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(CNN) -- Buying holidays on the Internet with flights, hotel rooms and car hire bundled together at attractive prices is the latest trend.

Consumers are going online to select each component of their self-package holiday, priced at tour operator rates.

The same concept, known in the trade as "dynamic packaging," could soon change the face of executive travel.

"In the last 12 months it has been a growing phenomenon for consumers. It will come to business travel soon." Scott Blume, CEO of travel portal Zuji.com told CNN.

And double-digit growth in online booking is forecast for the future, according to travel research company PhoCusWright.

In the U.S. by 2004 the market is predicted to be worth $51.2 billion and in Asia, $8 billion.

"Dynamic packaging will probably start with air, then hotel, cars, then other things that are unique to specific country or cultural markets,"