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 - Starting a New Business Chapter
The Travel Agencies industry has low barriers to entry, with no restrictive factors prohibiting new players from entering the industry. There are no obstructive licensing requirements that preclude new travel agents from starting a new business and capital requirements are relatively low compared with other industries.
The industry has a medium level of concentration with a few large, dominant players. However, beyond these large players the industry is highly fragmented with a large number of small, independent operators, many of which are owner-operators with no employees. Over the past five years, the industry has become increasingly specialized, giving rise to a number of new players entering the industry to focus on niche segments... purchase to read more