I 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
Ericson Smith
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!
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