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. Niche tour operators may specialise in certain destinations, activities or experiences.
Industry revenue fell substantially during the first half of the past five years, as a result of recessionary contraction. Tightened disposable income, a weakened pound and a lack of consumer confidence all hampered demand for holidaying. Although an increase in stay-at-home holidays cushioned the blow, tour operators were significantly hindered by a sharp fall in the number of UK residents booking tours overseas and the number of foreign tourists booking UK tours... purchase to read more
Industry Report - Industry Analysis Chapter
UK tour operators have faced a tough past five years. In the years after the recession, global economic pressures and increased employment uncertainty hampered performance and induced volatility. Demand for industry services was dented, as the internet allowed customers to arrange, assemble and book packages independently of mainstream operators. More recently however, the industry has been strengthening as a result of the ‘staycation' phenomenon, in addition to a recent upsurge in demand for holiday packages abroad, in line with a strengthened pound.
Despite significant contractions in revenue during 2010-11 and 2011-12, the industry is expected to bounce back and post a compound annual growth rate of 0.6% for the five years through 2014-15, reaching £12.3 billion... purchase to read more