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2024 U.S. Industry Statistics & Market Forecast - Travel Agencies
Market Size & Industry Statistics
The total U.S. industry market size for Travel Agencies:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Travel Agencies industry include:- Increased online booking platforms
- Shift towards personalized and experiential travel
- Rise in eco-tourism and sustainable travel initiatives
- Growth of adventure tourism
- Impact of social media on travel choices
- Demand for health and safety protocols post-COVID
- Use of artificial intelligence and machine learning for customized offerings
- Expansion of mobile applications and functionalities
- Influence of millennial and Gen Z travel preferences
- Integration of virtual reality (VR) into booking experiences
- Importance of reviews and user-generated content
- Adaptation to remote work and digital nomad trends
- Fluctuating international travel regulations
- Competitive pricing pressures from low-cost travel platforms
- Partnerships with local businesses and communities for unique experiences
- Increase in multi-generational family travel
Product & Services Breakdown
Research products and services in the Travel Agencies industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Trip Planning Services |
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Arranging, Assembling, And Marketing Pre-Packaged Tours |
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Arranging, Assembling, And Marketing Pre-Packaged Tours - International Travel |
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Arranging, Assembling, And Marketing Pre-Packaged Tours - Domestic Travel |
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Assembling, Organizing, And Reserving Customized Group Tour Packages |
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Travel Insurance Services |
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Other Travel Related Services |
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Commissions And Fees For Reservation And Travel Services |
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Airline Seats - International Travel |
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Airline Seats - Domestic Travel |
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Rail Seats |
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Vehicle Rental |
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Cruises - More Than One Day |
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Lodging - Domestic |
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Lodging - International |
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Packaged Tours - Domestic |
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Packaged Tours - International |
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Computerized Reservation System Services |
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Other Reservation Services |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
|
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Travel Agencies company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Travel Agencies industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Travel Agencies measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 11% | Order at top of page |
||
| Top Executives | 5% | |||
| Chief Executives | 0% | |||
| General and Operations Managers | 5% | |||
| General and Operations Managers | 5% | |||
| Business and Financial Operations Occupations | 9% | |||
| Business Operations Specialists | 7% | |||
| Computer and Mathematical Occupations | 5% | |||
| Personal Care and Service Occupations | 6% | |||
| Sales and Related Occupations | 33% | |||
| Sales Representatives, Services | 29% | |||
| Travel Agents | 24% | |||
| Travel Agents | 24% | |||
| Office and Administrative Support Occupations | 29% | |||
| Information and Record Clerks | 19% | |||
| Customer Service Representatives | 8% | |||
| Customer Service Representatives | 8% | |||
| Reservation and Transportation Ticket Agents and Travel Clerks | 10% | |||
| Reservation and Transportation Ticket Agents and Travel Clerks | 10% | |||
Travel Agencies Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Travel Agencies industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Travel Agencies industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Travel Agencies industry. |
Source:
Innovation News
- May 31, 2020: NextPlay Technologies trademarks "VOYAGE.TV" - Broadcasting of video and audio programming in the field of travel and travel destinations over television, cable television, video on demand, cable vision, the Internet and other electronic communications networks
- May 31, 2020: NextPlay Technologies trademarks "VOYAGE.TV" - Planning and arranging travel and reservations
- May 31, 2020: Global Basecamps trademarks "GLOBAL BASECAMPS" - Providing travel lodging information services and travel lodging booking agency services for travelers
Recent Federal Contracts for Travel Agencies
- Apr 02, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $100,000
- Mar 28, 2024: CONGRESS TRAVEL (Podgorica, ) awarded $13,077
- Mar 28, 2024: TRAVEL CONCEPTS, INC (Centreville, VA) awarded $35,659
- Mar 28, 2024: S365 INC (Norfolk, NE) awarded $8,108
- Mar 26, 2024: CHEROKEE NATION SYSTEM SOLUTIONS, LLC (Tulsa, OK) awarded $73,305
- Mar 26, 2024: CW GOVERNMENT TRAVEL INCORPORATED (Arlington, VA) awarded $14,717
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