Industry Analysis & Industry Trends
The Travel Agencies industry is growing once again, as traditional brick-and-mortar travel agencies reinvent themselves to remain relevant in an industry now dominated by online bookings. The rise of online travel websites, such as Expedia and Priceline.com, has completely revolutionized the industry. Consequently, many brick-and-mortar travel agencies have been forced to find new markets and niches, such as serving the corporate sector or luxury travelers. Steady growth in the broader economy will boost the industry's prospects over the next five years as travel rates lift. Growth in per capita income and declining unemployment will lead to growth in domestic and international travel. However, consumers will continue to remain price-conscious and more likely to book travel online... purchase to read more
Industry Report - Industry Locations Chapter
The industry is consumer-led, meaning the geographic distribution of industry establishments is highly reliant on the population spread. For this reason, the Mid-Atlantic, West and Southeast are the regions with highest number of industry establishments. Also, these regions all have above average household income, meaning consumers have a greater ability to pay for upmarket travel services.
Tourism spending and visitor numbers are also important to where travel agents locate themselves as this is their major market. However, because most tourism planning, booking and spending is made prior to departure, the origin of the tourist is more important than their final destination. Still, some tourists may make arrangements upon arriving at their destination... purchase to read more