$295.7bn
$XX.Xbn
3m
589k
$XX.Xbn
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. However, historically high inflation rates have pressured the potential revenue recovery as people cut back on travel when disposable income falls. Global travel agencies' revenue is expected to fall at a CAGR of 5.1% to $295.7 billion through the end of 2024, including a 2.3% increase in 2024 alone.
Industry revenue has declined at a CAGR of 5.1 % over the past five years, to reach an estimated $295.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
TUI Group | 19,827.4 | 1,035.9 | 5.2 | |
American Express Co | 8,545.1 | N/A | N/A | |
Expedia Group Inc. | 8,070.4 | N/A | N/A |
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Industry revenue is measured across several distinct product and services lines, including Airline travel bookings, Tours and packaged travel bookings and Accommodation bookings. Airline travel bookings is the largest segment of the Global Travel Agency Services.
Tours and vacation package bookings account for the largest share of revenue
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.
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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 activities thrived before the COVID-19 pandemic. Travel restrictions and decreasing consumer confidence resulted in a mass cancellation of vacation trips.
Learn about an industry's products and services, markets and trends in international trade.
Travel agents generate more revenue through client service fees rather than vendor commissions. This business model has placed more responsibility on travel agents, who are f...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
A country or region's share of the global population is a key factor affecting the regional distribution of global travel agencies. A region's share of global GDP is also cri...
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.
Travelers are price sensitive since airfare and accommodation are discretionary purchases. Travel agencies compete fiercely on price in a highly saturated market where consum...
Learn about the performance of the top companies in the industry.
Major online booking platforms are acquiring smaller players to meet shifting demand. High-income consumers are looking to smaller, niche agencies to provide specialized serv...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Legislative requirements for agencies vary from country to country. The overall industry has a light level of regulation, though this is increasing.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Costs vary widely among agencies, depending on the size of the agency. Travel agencies are exposed to various other costs, including selling, general and administrative costs...
Including values and annual change:
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The market size of the Global Travel Agency Services industry in Global is $295.7bn in 2024.
There are 589k businesses in the Global Travel Agency Services industry in Global, which has grown at a CAGR of 5.8 % between 2019 and 2024.
The market size of the Global Travel Agency Services industry in Global has been declining at a CAGR of 5.1 % between 2019 and 2024.
Over the next five years, the Global Travel Agency Services industry in Global is expected to grow.
The biggest companies operating in the Global Travel Agency Services market in Global are TUI Group, American Express Co and Expedia Group Inc.
Tour packaging and Tour wholesaling are part of the Global Travel Agency Services industry.
The company holding the most market share in Global is TUI Group.
The level of competition is high and increasing in the Global Travel Agency Services industry in Global.