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The travel arrangement and reservation services industry grows with shifts in travel trends towards staycations, ‘bleisure’ and food tourism.
Segments covered: By Type – Travel Agencies, Tour Operators, Convention And Visitors Bureaus, Other Travel Arrangement And Reservation Services; By Mode of Travel – Domestic Travel, Foreign Travel; By Mode of Booking – Online, Online
LONDON, March 17, 2021 (GLOBE NEWSWIRE) -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The COVID-19 pandemic forced people to cancel their vacations and family gatherings due to unexpected and unprecedented lockdown and also various travel restrictions to curb the coronavirus spread. According to The Business Research Company’s research report on the travel arrangement and reservation services market, due to the travel restrictions and risks involved in long-distance travel, staycation witnessed popularity among voyagers. Resurgence of staycations is expected to contribute to the growth of the market for travel arrangement and reservation services in the immediate forecast period. Changing lifestyles and increasing interest in domestic tourism will positively impact the market.
According to the Building Society research study in the UK, around 71% of respondents are intending to plan their holiday within the UK in 2021. Changing minds and interests and the resurgence of staycations are expected to drive growth in the travel arrangement and reservation services market during the forecast period.
Along with this change, rapid shift in travel trends towards bleisure and food tourism is expected to be a major driver for the market as per travel and reservation services market analysis. Bleisure travel refers to the hybrid travel model that includes both business travel and leisure travel. The individuals during their business trips to various countries are preferring to explore the local cuisine, travel locations post completion of their official work.
According to the Global Business Travel Association, one in three business travelers will add a leisure component in at least one of their business trips a year. Food tourism is another major trend that is expected to drive the market travel arrangement and reservation services. Food tourism focuses on authentic culinary experiences. Over the last few years, there has been increasing shift towards experiencing local delicacies of specific countries in unique food and beverages activities while travelling in the last two years. Shift in travel trends will drive the market for travel arrangement and reservation services, going forward.
The Business Research Company ’s report titled Travel Arrangement And Reservation Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 covers major travel arrangement and reservation services companies, travel arrangement and reservation services market share by company, travel arrangement and reservation services manufacturers, travel arrangement and reservation services market size, and travel arrangement and reservation services market forecasts. The report also covers the global travel arrangement and reservation services market and its segments.
Request For A Sample Of The Global Travel Arrangement And Reservation Services Market Report :
https://www.thebusinessresearchcompany.com/sample.aspx?id=2228&type=smp
The global travel arrangement and reservation services market is expected to grow from $303.59 billion in 2020 to $370.1 billion in 2021 at a compound annual growth rate (CAGR) of 21.9% . The travel arrangement and reservation services market growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. Travel market research shows that it is then expected to reach $474.36 billion in 2025 at a CAGR of 6% .
Western Europe is the largest region in the market according to travel arrangement and reservation services market research, accounting for 48.6% of the total in 2020. It was followed by the Asia Pacific, North America and then the other regions. Going forward, the fastest-growing regions in the travel arrangement and reservation services industry will be the Middle East and South America where growth will be at CAGRs of 16.3% and 14.9% respectively during 2020-2025.
Major players in the travel services market include BCD Group, Booking Holdings, Expedia Group, Trip.com Group, and Flight Centre Travel Group (FCTG).
Travel Arrangement And Reservation Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
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Travel arrangements & reservation services
Industry Group
The top three occupations in the Travel arrangements & reservation services Industry Group are travel agents , other managers , and customer service representatives . On average, full-time employees in the Travel arrangements & reservation services Industry Group work 43.5 hours per week and have an average annual salary of $71,637. Part-time employees in the same industry work 22.2 hours and earn an average annual salary of $25,297.
The locations with the highest concentration of employees in the Travel arrangements & reservation services Industry Group are Disney-International Drive Region PUMA, FL , Winter Garden, Ocoee Cities & Oakland Town PUMA, FL , and Orlando City (West Downtown) & Pine Hills (Southeast) PUMA, FL .
The workforce of Travel arrangements & reservation services Industry Group in 2021 was 277,896 people, with 59.5% woman, and 40.5% men.
In 2021, 70.2% of the workforce in the Travel arrangements & reservation services Industry Group was White (195,005 people), of which 60.6% were women and 39.4% men.
dollar Employment & Salaries
A snapshot of workforce, wages, and opportunities in the Travel arrangements & reservation services Industry Group.
The workforce in Travel arrangements & reservation services Industry Group was 277,896 people and is concentrated in Florida (40,371 workers). The average annual salary was $63,781, being $4,185 more than the national average salary, which was $59,596.
Monthly Employment
As of February 2023, there are 62.1k people employed in the Travel Arrangement and Reservation Services industry. This represents a 9.52% increase in employment when compared to February 2022.
This chart shows monthly employment numbers for Travel Arrangement and Reservation Services over time (non-seasonally adjusted).
Employment by Location
The states that concentrated the largest workforce in 2021 were Florida (40.4k), California (34.6k), and New York (17.9k).
This map shows the states in the United States shaded by workforce for Travel arrangements & reservation services Industry Group.
Yearly Wage Ranking
In 2021, Travel arrangements & reservation services Industry Group had an average annual wage of $63,781, $4,185 more than the average national salary of $59,596.
The graph shows the position of Travel arrangements & reservation services Industry Group in the ranking of industries by average annual wage.
Wage Distribution
Travel arrangements & reservation services has a wage GINI of 0.459, which is less than than the national average of 0.478. In other words, wages are distributed more evenly in Travel arrangements & reservation services (shown in red) in comparison to the national average for those wage buckets (shown in gray).
The graphic shows the distribution of average salaries by buckets for Travel arrangements & reservation services Industry Group workers compared to the entire workforce in the country.
people Occupations
A review of jobs and wages in the Travel arrangements & reservation services Industry Group.
Travel agents are the most common position with 54,818 workers, but the Travel arrangements & reservation services Industry Group employs a relatively high number of Other managers and Customer service representatives .
The highest average salary in Travel arrangements & reservation services goes to Lawyers, & judges, magistrates, & other judicial workers .
Occupations Distribution
The graph shows the distribution of employees in the Travel arrangements & reservation services Industry Group according to occupations. In 2021, the occupations that concentrated the largest number of employees in this industry were travel agents (54,818 people), other managers (34,800 people), and customer service representatives (16,285 people)
Wage by Sex in Common Jobs
On average, Male workers in the Travel arrangements & reservation services Industry Group make 1.58 times more than their Female counterparts. This chart shows the sex-based wage disparity in the 5 most common occupations in the Travel arrangements & reservation services Industry Group.
briefcase Business
Estimates of the sources of the costs and the purchasers of the products in the Travel arrangements & reservation services Industry Group. Based on estimates from the Bureau of Economic Analysis, this section indicates the amount of money spent by a specific industry in other industries.
The industrial flow illustrates the intermediate inputs and the use of outputs of the Travel arrangements & reservation services Industry Group.
The Travel arrangements & reservation services Industry Group gets the most input, by its share of the cost of all intermediate inputs, from the Professional and business services Industry.
California and New York stand out as the states with the largest number of establishments in the Travel arrangements & reservation services Industry Group.
Industrial Flow
Professional and business services has the highest single input, by dollars, to the Travel arrangements & reservation services Industry Group, and the largest industry purchasing services from the Travel arrangements & reservation services Industry Group is Professional and business services .
In this flow diagram, all of the industries listed to the left are those places from which the highlighted industry has made purchases. They are the intermediate inputs to the highlighted industry. All those industries listed on the right side are those industries that have made purchases from the highlighted industry. They are the use of outputs of the highlighted industry. The visualizations below offer alternative ways to see and understand this data.
Intermediate Inputs
- Professional and business services
- Manufacturing
- Finance, insurance, real estate, rental, and leasing
The Travel arrangements & reservation services Industry Group gets the most input, by its share of the cost of all intermediate inputs, from the Professional and business services Industry. This visualization does not include labor and capital costs.
Use of Output by Other Industries
- Wholesale trade
- Information
The Professional and business services Industry purchases the greatest share of products and services from the Travel arrangements & reservation services Industry Group in order to produce other goods and services. Purchases of the Travel arrangements & reservation services Industry Group for final consumption by consumers, businesses, or government are not included here.
Establishments
- California 6,104
- New York 4,686
- Florida 4,510
The charts shows the distribution of establishments in the Travel arrangements & reservation services industry by states and the number of establishments according to size.
geosearch Diversity
Demographic information on the Travel arrangements & reservation services Industry Group in the US.
Of the total workforce, 59.5% corresponds to women and 40.5% men. Male employees tend to earn more than Female employees, with average respective salaries of $81,474 and $51,717.
75.4% of workers have a bachelors degree, some college or high school or equivalent.
Gender and Age
The workforce of Travel arrangements & reservation services industry in 2021 was 277,896 people, with 59.5% woman, and 40.5% men.
The visualization shows the distribution of the workforce by gender and age in Travel arrangements & reservation services industry.
In 2021, 70.2% of the workforce in the Travel arrangements & reservation services industry was White (195,005 people), of which 60.6% were women and 39.4% men.
Other races that concentrated a significant number of workers were Asian and Black.
Educational Levels
The main educational levels achieved by the Travel arrangements & reservation services workers in 2021 were bachelors degree (95,376 people), some college (66,225 people), and high school or equivalent (47,916 people).
The chart shows the Travel arrangements & reservation services workforce by gender and educational level.
timeline-line-chart Projections
Growth projections of the Travel arrangement and reservation services industry, both by number of employees and output, from the Bureau of Labor and Statistics. The national workforce is projected to grow 7.66% in the next ten years. The Travel arrangement and reservation services industry has a lower projected workforce growth at −30.1%. Its projected 10-year growth in output (22%) is lower than the projected national growth in output (24.2%).
This line chart shows the projected 10-year growth in the number of jobs for Travel arrangement and reservation services. This industry is expected to grow less than than 7.66%, the average rate of national job growth.
Output Growth
This line chart shows the projected 10-year growth in output of the Travel arrangement and reservation services industry.
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