Travel Agencies & Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 5/27/2024
SIC Codes: 4724, 4725, 4729, 7389
NAICS Codes: 5615
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Travel Agencies & Services Industry Profile

Companies in this industry arrange travel and traveler accommodations and include travel agents, tour operators, and other travel services like time-share exchanges, visitors' bureaus, and ticket offices. Major companies include American Express Travel, Booking Holdings, CWT, Expedia Group, and Sabre (all based in the US), as well as BCD Travel (the Netherlands), China International Travel Service (China), HIS Co Ltd (Japan), and TUI Group (Germany).

Annual revenue from worldwide tourism, which includes travel agency is expected to reach about $290 billion in 2023, according to Statista. According to the United Nations World Tourism Organization (UNWTO), the global economy could lose more than $2 billion due to the effects of COVID-19 on international arrivals.

The US travel services industry includes about 21,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $55 billion.


Demand is driven by business and leisure travel, which depends on the economy. The profitability of individual companies depends on marketing. Large companies have an advantage in being able to provide a wider range of services, especially to corporate customers, and to afford sophisticated websites. Small companies can compete effectively by providing service to a few large customers, specializing in a service niche, or serving a local market. The US industry is concentrated: the 50 largest companies account for about 50% of revenue.

Two major factors have shaped the industry in recent years: sophisticated pricing ...

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