Industry Analysis & Industry Trends
Despite Britain having the most outbound tourists in the world, the Travel Agency Activities industry is in danger. Familiarity with the routine associated with international travel means that more Britons are now content to book travel independently. It is estimated that about one-third of all travel bookings by Britons are undertaken independently online.
Since 2008, the industry has had to cope with the onset of the global recession. Bricks-and-mortar stores, with their associated high overheads and operational costs, have also faced rising competition from the flurry of online tourism information and booking services... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The industry is in a 'two-speed' mode of growth. Changes in technology, demand and preferences are continuing to negatively affect industry growth.
The traditional bricks-and-mortar shop fronts are continuing to battle for their share of the consumer pound against the increasingly more popular travel booking websites. Over the five years through 2016-17, business and consumer bookings made online are estimated to rise from about 35% to over 60% of total travel bookings.
While travel agency websites are showing some growth, they are also competing against travel operator-owned sites. Travel operator-owned websites encourage their customers to book directly with them, offering competitive prices, customer loyalty schemes and bonuses... purchase to read more