Tour Operators in the UK - Industry Market Research Report
Description
Tour Operators in the UK
The economic climate in the UK has a significant effect on tour bookings, as spending on travel and tourism is considered to be a luxury and, therefore, consumers cut back on this type of spending when finances are constrained. Over the five years through 2022-23, tour operator revenue is expected to contract at a compound annual rate of 3.4% to £10.3 billion. This is mainly because revenue plummeted during 2020-21, owing to COVID-19 disruptions; most consumers were unable to travel abroad or domestically during the majority of the year. However, as restrictions have eased during 2022-23, holiday numbers have increased both domestically and internationally. Revenue is forecast to bounce back in 2022-23, growing 9.6%. Whilst travel has rebounded, inflation and a worsening cost-of-living crisis throughout 2022-23 have tightened purse strings for many people again, restricting the level of revenue growth.
Operators in the industry arrange, assemble and conduct tours in the UK and in other countries around the world. These tours can be sold directly by the operators or via travel agencies. Tours may include a combination of transportation, accommodation, food and visits to events or locations.
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."
The economic climate in the UK has a significant effect on tour bookings, as spending on travel and tourism is considered to be a luxury and, therefore, consumers cut back on this type of spending when finances are constrained. Over the five years through 2022-23, tour operator revenue is expected to contract at a compound annual rate of 3.4% to £10.3 billion. This is mainly because revenue plummeted during 2020-21, owing to COVID-19 disruptions; most consumers were unable to travel abroad or domestically during the majority of the year. However, as restrictions have eased during 2022-23, holiday numbers have increased both domestically and internationally. Revenue is forecast to bounce back in 2022-23, growing 9.6%. Whilst travel has rebounded, inflation and a worsening cost-of-living crisis throughout 2022-23 have tightened purse strings for many people again, restricting the level of revenue growth.
Operators in the industry arrange, assemble and conduct tours in the UK and in other countries around the world. These tours can be sold directly by the operators or via travel agencies. Tours may include a combination of transportation, accommodation, food and visits to events or locations.
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
44 Pages
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Major Markets
Globalisation & Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
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