However the amount of booking options now available has been seen to be overwhelming for some consumers - which may drive them back to travel agents. Legislation concerning foreign-invested travel agency also continues to prove an obstacle for foreign outfits.
Matt Sena is a writer and researcher, a co-founderTravel industry analysis former portfolio manager, a rider and a dad. This growth in travel should prove favorable for both the hotel and travel agency industries and make this an excellent time to invest in a franchise from either sector.
Agencies serve both consumer and business clients. The UK is forecast to retain the largest market share inwith Germany and France in second and third place, respectively.
The internet offers the do-it-yourself ease of use, but travel agents have familiarity and expertise on the industry that work in their favor. They can focus on honeymoons or other types of vacations like adventures or specific hobbies like scuba or surfing, certain geographic areas, groups or individuals, etc.
Trends in the industry include the rising popularity of unconventional destinations over traditionally popular places.
The events of September 11, hurt travel throughout the country and put a temporary damper on the hotel industry. Market growth rebounded in partly due to consumer awareness as to the risk of flight delays and cancellations, which saw more travelers opt for insurance to recover losses incurred.
It is predicted that travel expenditures by U. All this changed in the late s, when deregulation of the airline industry sparked a boom in travel agencies. Hotels and motels tend to be a particularly capital intensive franchise area, but also have the potential to be quite lucrative if successful.
Growth in other regions, such as Latin America and Asia Pacific, should help to offset the latter. Hotel Industry Background The first modern commercial hotel was opened in Buffalo, New York in and offered amenities such as a free morning newspaper. Business travel is projected to grow by more than 6 percent.
But growth was stymied by the necessity of being appointed by an airline commission to sell airline tickets. Below are just some of the forces poised to drive revenue for hotels, airlines, restaurants, and other players in the travel ecosystem.
Regionally, travel agencies are spread evenly throughout the United States. Within lodging there is a wide range of lodgings from high class full-service hotels, to no-hassle business motels, to resorts and campgrounds. Often chains have multiple brands representing different levels of service.
One technique agents have been taking to combat slow business is by focusing on a number of different areas besides flights and hotels - specialization, they believe, will be key to profitability.
As ofhotels and motels are broken down geographically as follows: Market Travel industry analysis There is high-growth potential in the travel and leisure services sector, reports Global Industry Analysts.
The sector is expected to continue to benefit from a rise in consumer spending on travel both in terms of holidays and business travel. Future of the Hotel Industry The future for the hotel industry looks bright, forecast for a strong and beyond, with demand growth expected to outpace supply growth through at least Often, smaller locations operate as franchises or branches of companies that operate larger locations elsewhere.
Travel Intermediary Global Travel Services Industry Analysis The global travel and tourism sector continues to witness strong growth in both international and domestic segments, reports Global Industry Analysts. Travel agencies coordinate flights, lodging, cruises and other types of trips to both retail and business customers and can be conducted at offices or out of the home.
That may be tough news for airline industry margins, but low fares drive spending throughout the travel sector. Each year, the global traveler pool is flooded with millions of new consumers from both emerging and developed markets, many with rising disposable incomes and a newfound ability to experience the world.
Travel agencies book airline travel, cruises, trains, lodging, and more. Strong economies drive business activity.The Travel Agencies industry market report contains strategic analysis of the key drivers influencing the industry.
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All of our data and analysis for Travel in Middle East and Africa. Includes 15 years of comparable data, advanced modelling tools, global and regional analysis, company profiles, strategic. Global Travel Services Industry Analysis The global travel and tourism sector continues to witness strong growth in both international and domestic segments, reports Global Industry Analysts.
The business travel sector topped recovery expectations following the 3/5(7). Cleared for take-off - Lean principles and strategy applied to the travel industry.
Adopting Lean IT principles as a solution for the travel business to improve traveler experience, strengthen customer loyalty and increase the industry’s. Research report on Online travel market size, share, statistics and industry analysis.
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