Industry Analysis & Industry Trends
The Tour Operators industry includes enterprises that arrange, assemble and conduct tours both domestically and internationally. Tours may incorporate transportation, accommodation, food and visits to events or locations. The industry has faced both structural and economic challenges over the five years through 2013-14. As a result, industry revenue has fallen substantially. With significant economic uncertainty, fewer UK residents booked tours overseas, while the number of foreign tourists booking UK tours also fell. A combination of weak household disposable income growth and plummeting consumer confidence led to fewer trips being made abroad and a switch to cheaper destinations... purchase to read more
Industry Report - Industry Analysis Chapter
Overall, UK tour operators have faced a tough five years because global economic pressures and increased employment uncertainty contributed to greater volatility. Using the internet has allowed more adventurous customers to assemble their own tour packages independently of mainstream operators, while the financial crisis that engulfed the developed world removed a substantial amount of organic growth.
Industry revenue is estimated to fall at a compound annual rate of 2.9% over the five years through 2013-14, reaching £9.7 billion. This weak performance is largely due to significant contractions in revenue during 2010-11 and 2011-12, when revenue fell by 10.6% and 12.5% respectively... purchase to read more