Industry Analysis & Industry Trends
The Travel Agencies industry has become increasingly dominated by online travel agents, which have grown rapidly over the past decade and are expected to account for just over half the industry's total revenue in 2016-17. The customers served by the industry are mostly UK residents looking to travel abroad for leisure purposes, such as going on holiday, visiting family and friends or travelling to events. Nearly one-fifth of industry revenue is generated from business travellers, however, while domestic travel by UK residents and international visitors are also important market segments. Leisure travel is influenced by trends in disposable income, consumer confidence and current exchange rates... purchase to read more
Industry Report - Industry Products Chapter
Online booking services
The UK online travel agency market is one of the largest in Europe and ahead of Germany and France. Over the past decade, the online market has grown from slightly more than 10% of the market to an estimated 55% in 2016-17. The online travel segment relates only to travel websites that offer flights with a range of airlines, accommodation and other products, such as Expedia. It excludes the websites operated by major airlines and accommodation chains since these are included in other industries.
Websites have the advantage of being accessible 24 hours a day, so they trade on convenience. Many can offer more attractive prices than their competitors because they have far lower operating and overhead costs than shop-front operators. Man.. purchase to read more