Sunny conditions: Pent-up demand fuels holiday sales surge
Revenue is forecast to contract at a compound annual rate of 1.7% over the five years through 2023 to €1.7 billion. Before the pandemic, revenue trended upwards in line with rising disposable incomes and high levels of consumer sentiment. High sentiment levels made consumers more likely to spend on holidays, typified by rising personal consumption expenditure, which aided demand for travel and tour packages. However, in 2020, revenue plummeted by 60.6% due to lockdown and travel restrictions imposed to combat COVID-19.
The industry comprises agencies that provide booking, reservation and information services to UK residents travelling domestically and internationally. The industry includes agencies that are solely or partially online or shop-front operators. Operators also arrange, assemble and conduct tours in Ireland and other countries. Operators mainly generate their income from commissions.
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.
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