Travel Agencies in the US - Industry Market Research Report

Travel Agencies in the US - Industry Market Research Report

  • March 2021 •
  • 55 pages •
  • Report ID: 199116 •
  • Format: PDF
Bon voyage: Rebounding travel will likely support industry revenue growth

Abstract

Travel Agencies in the US
The Travel Agencies industry has experienced steady growth over the five years to 2019, as online booking agencies capitalized on increased demand for travel while traditional travel agencies worked to reinvent their business practices. The rise of online travel websites, such as Expedia.com and Priceline.com, has completely revolutionized the industry. Consumers can now research locations, compare prices, book travel and manage reservations without the assistance of an expert, negating the role of traditional travel agencies. This trend has been amplified with the rise of mobile computing, as consumers are more likely to do their own travel research and seek affordable travel packages online. Steady growth in the broader economy is expected to boost the industry’s prospects over the five years to 2024, while travel rates are also anticipated to rise. Growth in per capita income and consumer spending will likely lead to growth in domestic and international travel. However, consumers will likely remain price-conscious and are expected to be more likely to book travel online.

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.
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