Global Travel Agency Services: Sector Overview & Roundup


Posted April 20, 2017 by hussain96

Future Market Insights has announced the addition of the “Global Travel Agency Services: Sector Overview & Roundup”report to their offering.

 
The global travel agency is a business which operates between the tourism industry and the customer i.e. the traveller. The travel agency markets the pre-packaged travel holidays and tours to potential travellers. The travel agencies can also work as a broker between the tourist and tour companies, hotels, restaurants, and car & bus rental companies. The travel agency can be a small privately owned company, or it can be a part of a larger entity. The travel agencies provide services to both individuals and corporate travellers for business as well as leisure. In addition to the offline services these travel agencies also provide integrated and customised online services. These online services include hotel bookings, flight bookings, tour packages, cruise bookings, car rental services, rail reservations, and others.

Global Travel Agency Services: Drivers and Restraints

The global travel agency services industry has experienced a significant growth due to the increase in demand for pre-planned tours and bookings for accommodation by various commercial and general clients all over the world. The global travel agency service providers have a well-established base of suppliers. The growth in the business and leisure travel across the world, increase in disposable income, economic growth, and the technological development are some of the key factors affecting the growth of the global travel agency services industry. Nowadays, consumers are moving towards online booking facilities, and hence the online and telecommunication services are imperative, which are expected to drive the overall profitability of the travel agency services industry. The revenue from travel agency services is primarily generated through the fees charged for the services.

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The global economic factors, the refugee crises in Europe, violent conflicts and terrorist attacks in Asia and Europe are expected to impact the global tourism industry and ultimately impact the global travel agency services market. The increase in the number of people travelling abroad for holidays is projected to drive the global travel agency services industry in the near future. The city trips segment is expected to experience a significant growth in the global leisure travel sector as there is an increasing trend of short trip vacations and Asians, Europeans and South Americans are travelling to attractive destinations in neighbouring countries and also overseas.

Internet marketing also plays an important role in the commercialisation of the travel agency services industry. The travel agencies have started more sophisticated branding of various attractive and luxurious services through advertisement and social media channels. The reviews, blogs, and increasing usage of social media are playing an important role in travel decisions globally. The travel agency service providers are focussing on the online brand image of their services. They are also trying to influence travellers across the world with attractive information and opinions on internet media as the internet is the most important source of information for international travellers. The online travel agency is expected to grow due to increasing use of smartphone and tablet applications and technological advancements. Travel agency service providers are trying to cut the intermediaries such as travel agents by providing online application based services thus increasing their profit margins.

Global Travel Agency Services: Key Regions

The Asia Pacific region remains the leading market for the travel agency services due to rise in the number of outbound trips. Despite the slowdown in the Chinese economy the Asia-Pacific region is anticipated to gain market share and is expected to experience strong growth in the travel agency services market over the forecast period. The key trends in the Asia Pacific market such as short trips, citytrips and beach holidays, change in the preference of customers for luxury hotels and higher average spending are projected to drive the travel agency services industry over the forecast period. The travel industry in North America region is growing with the help of increasing U.S. economy and strong US dollar which is expected to drive the travel agency services industry here during the forecast period. Growth in short trips, adventure holidays, increasing interest for authentic journeys, culinary tourism, growing focus on health and wellness tourism, and increase in multi-generational travel are expected to create a huge demand for travel agency services in the North America region over the forecast period. The growth in the Middle East and Africa regions tourism industry is expected to drive the travel and tourism agency services industry in the near future.

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The global travel agency is a business which operates between the tourism industry and the customer i.e. the traveller. The travel agency markets the pre-packaged travel holidays and tours to potential travellers. The travel agencies can also work as a broker between the tourist and tour companies, hotels, restaurants, and car & bus rental companies. The travel agency can be a small privately owned company, or it can be a part of a larger entity. The travel agencies provide services to both individuals and corporate travellers for business as well as leisure. In addition to the offline services these travel agencies also provide integrated and customised online services. These online services include hotel bookings, flight bookings, tour packages, cruise bookings, car rental services, rail reservations, and others.

Global Travel Agency Services: Drivers and Restraints

The global travel agency services industry has experienced a significant growth due to the increase in demand for pre-planned tours and bookings for accommodation by various commercial and general clients all over the world. The global travel agency service providers have a well-established base of suppliers. The growth in the business and leisure travel across the world, increase in disposable income, economic growth, and the technological development are some of the key factors affecting the growth of the global travel agency services industry. Nowadays, consumers are moving towards online booking facilities, and hence the online and telecommunication services are imperative, which are expected to drive the overall profitability of the travel agency services industry. The revenue from travel agency services is primarily generated through the fees charged for the services.

The global economic factors, the refugee crises in Europe, violent conflicts and terrorist attacks in Asia and Europe are expected to impact the global tourism industry and ultimately impact the global travel agency services market. The increase in the number of people travelling abroad for holidays is projected to drive the global travel agency services industry in the near future. The city trips segment is expected to experience a significant growth in the global leisure travel sector as there is an increasing trend of short trip vacations and Asians, Europeans and South Americans are travelling to attractive destinations in neighbouring countries and also overseas.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

Browse Full Report@ http://www.futuremarketinsights.com/reports/travel-agency-services
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Issued By future market insights
Country United States
Categories Business
Last Updated April 20, 2017