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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 | Sep 2016

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

IBISWorld’s Travel Agencies market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$34bn
Annual Growth 11-16
2.8%
Annual Growth 16-21
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Profit
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Employment
209,924
Businesses
11,605
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 SWOT Analysis Chapter

The two main segments of the Travel Agencies industry are in distinctively different stages of their life cycles. Travel websites are in the growth stage of their life cycle, as consumers flock to the internet to make travel bookings directly. Meanwhile, traditional brick-and-mortar travel agents have reached maturity and face increasing threats from travel websites and vendors that take online bookings directly. Overall, the industry is mature. Industry value added, which measures the industry's contribution to the overall economy, is expected to remain flat, exhibiting annualized growth of 0.9% over the 10 years to 2021. This compares with a GDP annualized growth rate of 2.1% over the same period... 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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