Over the past five years, travel agencies have experienced systematic technical change that has led to consolidation and structural change in the broader travel sector. On the demand side, the global financial crisis decreased corporate spending on industry services dramatically and depressed international arrivals. In this challenging environment, revenue is expected to contract at a compound annual rate of 1.5% in the five years through 2012-13. As price competition continues within the industry, revenue is forecast to decline by 0.6% to $2.99 billion in 2012-13.
Travel agencies provide travel information, reservation and booking services such as transport (e.g. planes, ships and rental cars) or accommodation (e.g. hotels, motels and serviced apartments) and tourist attractions (e.g. theme and amusement parks and museums) to private individuals and business travellers. The industry also includes internet travel booking services.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.