$2.4bn
$XXX.Xm
18,653
4,461
$X.Xbn
Travel agencies have struggled due to COVID-19 and the rise of internet travel booking, which has interfered with the core services of travel agencies. Online travel agents now play a larger role alongside traditional brick-and-mortar businesses. Most agencies suffered in 2020 and 2021 as governments imposed restrictions on travel. Revenue is expected to slump at a CAGR of 4.7% to $2.4 billion through the end of 2024, including an increase of 12.5% in 2024 alone.
Industry revenue has declined at a CAGR of 4.7 % over the past five years, to reach an estimated $2.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Expedia Group Inc. | 294.5 | 15.7 | 5.3 | |
Booking Holdings Inc. | 212.6 | 67.3 | 31.7 | |
HIS Co. Ltd. | 197.2 | 15.0 | 7.6 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including International and domestic airline bookings, Tours and packaged travel bookings and Accommodation bookings and travel insurance. International and domestic airline bookings is the largest segment of the Travel Agencies in Canada.
International and domestic airline bookings have declined as revenue share
The Travel Agencies industry in Canada acts as agents for tour operators, transportation companies and accommodation establishments in selling travel, tour and accommodation services to the general public and commercial clients.
Purchase this report to view all 4 major companies in this industry.
NAICS 561510 - Travel Agencies in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Travel agencies were decimated by COVID-19, which prompted an unprecedented drop in travel bookings and cancellations. In 2020 alone, revenue fell over 45.0% in response to d...
Learn about an industry's products and services, markets and trends in international trade.
Airline bookings generate the largest share of revenue. Revenue, in turn, plummeted as bookings were cancelled because of the COVID-19 pandemic.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The distribution of establishments is determined by population trends. There is a direct correlation between population density and the number of travel agencies in a provinc...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Travel agencies compete primarily on price. Consumers will choose the travel agent that offers them the best price for a given trip. Other factors, such as experience and loc...
Learn about the performance of the top companies in the industry.
The largest agencies have grown despite revenue declining overall. This is because they can leverage their scale to offer lower prices and remain popular despite economic vol...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Travel to and from Canada dictates performance. This includes inbound international travel and international trips taken by Canadian residents. When more people are leaving o...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit has decreased alongside the slump in industry revenue. Increased online travel booking has intensified competition among agencies and resulted in lower prices.
Including values and annual change:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Unlock comprehensive answers and precise data upon purchase. View purchase options.
The market size of the Travel Agencies industry in Canada is $2.4bn in 2024.
There are 4,461 businesses in the Travel Agencies industry in Canada, which has declined at a CAGR of 2.8 % between 2019 and 2024.
The market size of the Travel Agencies industry in Canada has been declining at a CAGR of 4.7 % between 2019 and 2024.
Over the next five years, the Travel Agencies industry in Canada is expected to grow.
The biggest companies operating in the Travel Agencies market in Canada are Expedia Group Inc., Booking Holdings Inc. and HIS Co. Ltd.
Travel tickets retail and reservations and Tour retail, reservations and packaging are part of the Travel Agencies industry.
The company holding the most market share in Canada is Expedia Group Inc..
The level of competition is high and increasing in the Travel Agencies industry in Canada.