North American Countries have Contributed the most to the Travel Agency Services Market

The global travel agency services market is projected to reach a valuation of US$ 407.7 Bn in 2022. Sales are projected to increase at a 11.5% CAGR, with the market size reaching US$ 510.0 Bn by 2032.

The North American countries have contributed 29% to the Global travel agency services in the year 2022.Travel agency websites in these areas provide one with various features like “book now” which will take one directly to the booking site.

Places tourists wish to visit they can put in the “wish list”. Cancellation fees are not applicable. All these features have helped the Global travel agency services in the North American countries to gain more customers.

Financial stability of the customers, eagerness to learn and educate themselves is helping the market to grow. Millennials love to explore new places and learn about that places exclusive cuisine, transport facilities etc.

“The Global travel agency services market is expanding because of the rising digital presence of the companies “- Says an FMI analyst.

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Personalization of trips for individuals, providing accommodation, local cuisines, transportation services etc. are some of the features that are helping to boost the Global travel agency services market globally.

Digital presence of the companies is helping the travel agency services to grow globally.  This also helps the companies to provide customers with offers and group discounts.

Key Takeaways:

• Full-service global arrangements are the most preferred service provided by global travel agency services market. It is because this service covers hotels, travel etc.
• The most used booking channel is the online travel agents/online platforms. It is due to the increased digital presence of the agencies.
• Tour groups are mostly the major customers. This is due to the fact that they get group discounts and offers.
• The age group of 26-35 years are the major customers of this industry. This group is more interested in travelling and exploring the market.

Impact of COVID-19 on the Global travel agency services Market

A lot of travel agency services globally shut down and experienced losses due to the covid-19 pandemic. But companies also gained a lot of customers after the lockdown was lifted.

The reliance on travel agents has made a comeback following the outbreak of COVID-19 amid a need for personalisation and real-time connectivity. People also are inclined to spend extra for higher offerings and experiences.  Such is the buoyancy approximately post-pandemic tour call for that many marketers who had close save for worry of a fall apart of the worldwide tour enterprise are actually returning to the fold.

Agents who carried out their enterprise offline are actually adopting new technology and turning into tour planners, even sporting out advertising and marketing sports on social media.

Who is winning?

Leading players of the Global travel agency services market are focusing on improving their digital presence and providing great tour packages for their customers

Major players present in the Global travel agency services are Cox and Kings, Thomas Cook, SOTC, Kesari Tours, Club Mahindra Holidays, Expedia, Yatra, Goibibo, MakeMyTrip and Travelguru among others.

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The Global Travel Agency Services by Category

By Services Provided:

• Full-service global travel arrangements
• Flights
• Hotels
• Additional travel services
• Car hire
• Others

By Booking Channel:

• Phone Booking
• Online Booking
• In Person Booking

By Tourist Type:

• Domestic
• International

By Tour Type:

• Independent Traveler
• Package Traveler
• Tour Group

By Consumer Orientation:

• Men
• Women

By Age Group:

• 15-25 Years
• 26-35 Years
• 36-45 Years
• 46-55 Years
• 66-75 Years