Industry Analysis & Industry Trends
Over the five years through 2012, the Global Travel Agency Services has faced difficult operating conditions. Revenue fell in 2009 and the global recession put the brakes on industry growth. Revenue is expected to grow by 0.6% in 2012, to reach $329 billion as uncertain recovers in Europe and the US dampen demand for corporate and leisure travel. Despite the conditions post 2009, the industry has performed relatively well, reporting an annual revenue growth of just 1.7% over the period.
In 2010, the industry faced a brighter operating environment and performance prospects, as the global economy began its recovery from the recession... read more
Industry Locations
The industry is spread according to domestic and international travel movements (both outbound and inbound) for any purpose - pleasure, holiday, education, business, seminars and other purposes.
Domestic tourism
In terms of domestic tourism, research by Euromonitor indicates that the United States has the largest domestic tourism market with about 1.2 billion trips annually. This is followed by China, on about 1.0 billion, with domestic travel increasing significantly during Golden Week in October. However, China's average per person trip expenditure is small given the low average income and its distribution among the population. Brazil ranks third with about 430 million trips annually... read more