$44.4bn
$X.Xbn
142k
43,315
$XX.Xbn
Travel agencies reeled from the COVID-19 pandemic's devastating impact on revenue and profit as stay-at-home mandates and closed borders halted domestic and international travel. The pandemic brought on a spike in revenue when health and safety restrictions were eased as consumers booked trips to make up for canceled trips and long hours in quarantine, a trend sometimes called revenge tourism. As various international borders reopened in 2022, international trips made by US residents nearly doubled, bringing back revenue growth for travel agencies. Still, sales still suffer modestly from the record-high inflation, with industry revenue expanded at a CAGR of 1.1% to $44.4 billion over the past five years, including a 3.9% dip in 2024 alone.
Industry revenue has grown at a CAGR of 1.1 % over the past five years, to reach an estimated $44.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
American Express Co | 26,967.3 | 7,020.7 | 26.0 | |
Expedia Group, Inc. | 9,881.4 | 1,308.7 | 13.2 | |
The American Automobile Association, Inc. | 5,476.2 | 198.6 | 3.6 |
To view the market share and analysis for all 9 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Airline travel, Tour and packaged travel and Accommodation bookings. Airline travel is the largest segment of the Travel Agencies in the US.
Tours and packaged travel benefit from specialization
This industry includes businesses that sell, book and arrange travel, tour and accommodation services for 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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NAICS 56151 - Travel Agencies in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
COVID-19 rocked the travel sector, hitting agencies hard. They have since bounced back, predicting rising revenue as people's disposable income increases over the next five y...
Learn about an industry's products and services, markets and trends in international trade.
US residents' international trips nearly twofold in 2022 as borders reopened. The increase, outpacing domestic travel growth by double, underscored a surge in 'revenge touris...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Major travel hubs are in populous cities. With big international airports, these cities offer agencies easy access to travelers as they are hotspots for departures and arriva...
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 watch their wallets as flight and hotel costs are optional. The travel industry is packed with competitors vying for these budget-minded customers, making it a real...
Learn about the performance of the top companies in the industry.
Major web-based booking firms are buying smaller counterparts to cater to new demand. Wealthier clients are turning to smaller, specialized agencies. This shift leverages nic...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Border shutdowns in the pandemic era have crippled global travel. Customers, wary of potential risks, show little interest in making travel plans or using agency services.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Online booking platforms out-earn small agencies. They save on costs like furniture and décor, allowing for a higher profit margin.
Including values and annual change:
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Key data sources in the US 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:
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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.
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The market size of the Travel Agencies in the US industry in United States is $44.4bn in 2024.
There are 43,315 businesses in the Travel Agencies in the US industry in United States, which has declined at a CAGR of 3.9 % between 2019 and 2024.
The market size of the Travel Agencies in the US industry in United States has been growing at a CAGR of 1.1 % between 2019 and 2024.
Over the next five years, the Travel Agencies in the US industry in United States is expected to grow.
The biggest companies operating in the Travel Agencies market in United States are American Express Co, Expedia Group, Inc. and The American Automobile Association, Inc.
Tours and packaged travel and Airline travel are part of the Travel Agencies in the US industry.
The company holding the most market share in United States is American Express Co.
The level of competition is high and increasing in the Travel Agencies in the US industry in United States.