Travel agencies contended with significant contractions in profit and sales over the five years to 2023 when COVID-19 halted domestic and international travel. Still, the pandemic precipitated a trend of revenge tourism once health and safety restrictions were eased, which has been a boon to travel agents. As various international borders reopened in 2022, international trips made by US residents grew by more than 100. 0%.
A strong recovery in travel has caused industry revenue to increase at an estimated CAGR of 4. 0% to $76. 1 billion over the past five years, including a 6. 9% increase in 2023 alone. 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. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
A strong recovery in travel has caused industry revenue to increase at an estimated CAGR of 4. 0% to $76. 1 billion over the past five years, including a 6. 9% increase in 2023 alone. 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. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
ABOUT THIS INDUSTRY- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
- Industry Data
- Annual Change
- Key Ratios
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Exelon Corporation
- Dominion Energy, Inc.
- Entergy Corporation
