was thinking what to talk to you about this morning when I came across some interesting stats on the travel agency industry.
Revenues for Travel Agencies should grow to $17 Billiion in 2020 up from $15 Billion in 2015.
78% of Revenues are coming from commissions, while 22% come from service fees -- a slow but unstoppable movement from commissions to fees.
Agencies are reporting stronger profits -- even though there are less of them. This means consolidation and a stabilization in the current business model after the downsize from airline tickets more than a decade ago.
A smidged of bad news: only 16% of people would use a travel agency (and that number is falling). But this is offest by air travel doubling by 2030.
A more technologically adept audience is travelling. And Generation Z is expected to spend more than Millenials.
But as the whole travel tech industry shakes out -- the part of the population that wants travel planning "just done" for them is getting stronger.
And that's where you win.
But you have to be ready -- especially online, to meet this new consumer.
The one that does everything on their phone.
That expect to text you all hours of the day (and needs a prompt reply).
Want to talk about modernizing online? Click the button below for a free consultation.
Your friend in travel marketing
Co-founder, marketing & technology.
Travel Agency Tribes
PS. Have a question about your travel agency website, newsletter or social media? Just hit reply, it comes directly to me!
As you can see, success with your online marketing is not about just setting it up. It’s about doing the work every week to help retain customers and attract new ones.If you decide to hire someone to help either full or part time, here are some tips.Get someone who is...
How Travel Professionals Can Drive Sales When Traveling
Our CEO Ryan McElroy speaks on one of the best, simple ways to drive sales to your Travel Business when...