Global Travel Agency Services - Industry Market Research Report

Global Travel Agency Services - Industry Market Research Report

Global Travel Agency Services

Global travel agencies' revenue has grown despite core services dramatically changing due to consumers using online channels to research and book travel. Online booking agents now play a much more significant role alongside traditional brick-and-mortar travel agencies. International tourism thrived before COVID-19, but it severely cut into revenue in 2020, followed by a rebound in 2021 as the economy returned to normal. Global travel agencies' revenue has expanded at a CAGR of 2.5% to $474.7 billion through the end of 2023, including a 9.9% increase in 2023 alone.

The Global Travel Agency Services industry comprises businesses engaged in tour wholesaling (i.e. developing tour packages that include airline and accommodations to be sold through travel agents or online) or acting as retail travel agents to the general public and commercial clients. The industry also encompasses companies primarily engaged in providing travel arrangement and reservation services, including online-only booking systems.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.