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Travel Agencies in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Travel Agencies Market Research Report | NAICS 56151 | Feb 2016

Pack your bags: Continued growth in the broader economy will encourage industry growth

The Travel Agencies market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$34bn
Annual Growth 11-16
2.5%
Annual Growth 16-21
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Profit
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Employment
207,341
Businesses
11,108
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

 


Industry ProductsRelated ReportsTable of Contents

What is the Travel Agencies Industry?

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.

Industry Products
International and domestic airline bookingsTour and packaged travel bookingsAccommodation bookingsCruise bookingsCar rentalOther services
 
Industry Activities
Retailing and reserving travel ticketsRetailing and reserving toursRetailing and reserving travel accommodations


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