Over the past five years, changes in travel agencies have caused consolidation and structural transformation across the tourism sector. The lagging effects of the global financial crisis contributed to the low base-year in 2010-11. Additionally, domestic tourism is losing business to international tourism. In this challenging environment, industry revenue growth is expected to be in recovery, growing at an annualised 2.0% over the five years through 2015-16 to total $4.5 billion. Revenue is projected to grow by 1.1% in 2015-16, with recovery constrained by intense price competition and exchange rate instability.
Travel agencies provide travel information, reservation and booking services for transport (e.g. planes, ships and rental cars), accommodation (e.g. hotels, motels and serviced apartments) and tourist attractions (e.g. theme and amusement parks and museums) to 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.