Industry Analysis & Industry Trends
The Tour Operators industry includes firms that arrange, assemble and conduct tours both domestically and internationally. Tours may incorporate transportation, accommodation, food and visits to select locations or special events. The industry has faced both operational and economic challenges over the five years through 2014-15. Industry revenue fell substantially in the first half of the past five years as economic adversity introduced financial insecurity that hampered demand for holidaymaking. Economic uncertainty meant fewer UK residents booking tours overseas, while the number of foreign tourists booking UK tours also fell. A... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Tour Operators industry is in the decline stage of its life cycle. This is evident in relatively flat enterprise growth and falling industry contribution to the wider economy. Over the 10 years through 2019-20, industry value added, which measures industry GDP contribution, is forecast to grow at a meagre compound annual rate of 0.2%. This is substantially lower than expansion expected of the overall economy over the same period and indicates falling economic contribution. GDP is forecast to rise at a compound annual rate of 2.1% in the decade through 2019-20.
The industry suffered as a result of adverse economic conditions that squeezed discretionary spending. It has also battled with the growth threat of available substitutes... purchase to read more