The Travel Agencies industry is growing once again, as traditional brick-and-mortar travel agencies reinvent themselves to remain relevant in an industry now dominated by online bookings. The rise of online travel websites, such as Expedia and Priceline.com, has completely revolutionized the industry. Consequently, many brick-and-mortar travel agencies have been forced to find new markets and niches, such as serving the corporate sector or luxury travelers. Moving forward, steady growth in the broader economy will boost the industry's prospects over the next five years as travel rates lift. Growth in per capita income and declining unemployment will lead to growth in domestic and international travel. However, consumers will continue to remain price-conscious and more likely to book travel online. This presents a significant challenge to the industry's thousands of traditional travel agencies, and online booking sites will continue to outpace brick-and-mortar operators.
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.