Industry Analysis & Industry Trends
The past few years have been challenging for the Tour Operators industry, which faced difficulties from the global financial crisis and falls in international tourist arrivals, UK tourist departures and domestic consumer confidence. With significant economic uncertainty, fewer UK residents booked tours overseas, while the number of foreign tourists booking UK tours also fell. A key threat to the industry is the increasing tendency for people to plan, organise and book their travels using the internet, thereby bypassing traditional tour operators and denying them sales.
Industry revenue over the five years through 2012-13 is estimated to have fallen by an average of 1.3% per year to £13 billion... purchase to read more
Industry Report - Starting a New Business Chapter
While it may seem relatively straightforward to commence operating a small-scale tour, the barriers to entry can be significant in many parts of this industry. Recruiting experienced staff with thorough knowledge of specific tour itineraries can be challenging. The level of competition in this industry is high, as many other providers already service major routes and destinations.
Initial investment costs can vary from very little in some instances to millions of pounds in others. If the intended tours involve boats, aeroplanes or other expensive equipment, the costs can rapidly accumulate. Additionally, there are compliance expenses and quotas involved in some locations... purchase to read more