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Traditional Travel Agency Market By Service Types, By Age Group: Global Opportunity Analysis and Industry Forecast, 2023-2032

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    Report

  • 250 Pages
  • October 2023
  • Region: Global
  • Allied Market Research
  • ID: 5916335
The global traditional travel agency market was valued at $143.9 billion in 2022, and is projected to reach $212.9 billion by 2032, growing at a CAGR of 3.7% from 2023 to 2032.An organization that assists visitors with the planning and booking of numerous parts of their travels is a classic travel agency. These agencies, which have been in operation for a while, were the primary way by which people scheduled their travel before the emergence of online reservation systems and digital resources.

The global traditional travel agency market is analyzed on the basis of services type, age group, and region. By services type, the market is divided into transportation, travel accommodation, and vacation packages. By age group, the market is segmented into 22-31 years, 32-43 years, 44-56 years, and >56 years. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (France, Germany, Italy, Spain, the UK, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and the rest of LAMEA).

The global traditional travel agency sector, which provides numerous expertise to aid clientele in developing and engaging their vacations, has long been a foundation of the travel and tourism industry. These physical travel agencies have historically been essential in providing individuals looking for leisure or business travel plans with individualized suggestions, knowledge, and convenience.

For a very long time, travel agencies acted as a go-between for clients and other travel service providers like lodging, transportation, and cruise lines. They typically combine travel, hotel, and flights into all-inclusive packages to make planning them simpler. Travel brokers provided useful insights into potential destinations, suggested routes, and assisted in navigating challenging travel procedures. Their knowledge was especially helpful to individuals looking for specialty experiences or unfamiliar with online booking platforms.

The market for traditional travel agencies, however, has recently encountered numerous difficulties. The emergence of online travel booking platforms and aggregator websites has given consumers the power to compare prices independently and directly. This change has reduced the need for travel agents to make simple reservations, increasing pressure on conventional agencies to change.

Therefore, despite the fact that the market for traditional travel agencies has been disrupted by the growth of online booking platforms, this industry still finds its niche by offering specialized, individualized services and appealing to tourists looking for unusual encounters and knowledgeable guidance. The continued success of these organizations in an increasingly digital environment will probably depend on their ability to adapt to shifting consumer tastes and incorporate new technology.

The major players operating in the global traditional travel agency market are Expedia Group Inc., Booking Holdings, Mahindra Holidays, STA Travel, Carlson Wagonlit Travel (CWT), AAA Travel, Kuoni Group, Thomas Cook, TUI AG, and Flight Center Travel Group Limited.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the traditional travel agency market analysis from 2022 to 2032 to identify the prevailing traditional travel agency market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the traditional travel agency market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global traditional travel agency market trends, key players, market segments, application areas, and market growth strategies.

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Key Market Segments

By Service Types

  • Transportation
  • Travel Accommodation
  • Vacation Packages

By Age Group

  • 22-31 Years
  • 32-43 Years
  • 44-56 Years
  • and56 Years

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • Germany
  • Italy
  • Spain
  • UK
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Thailand
  • Malaysia
  • Indonesia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE
  • Argentina
  • Rest of LAMEA
  • Key Market Players
  • Kuoni
  • CWT Global B.V.
  • Flight Centre Travel Group (FCM)
  • Booking Holdings, Inc.
  • STA Travel
  • Thomas Cook India Limited
  • TUI AG
  • AAA
  • Expedia Group, Inc.
  • Mahindra Holidays & Resorts India Ltd.

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.3. Porter’s five forces analysis
3.4. Market dynamics
CHAPTER 4: TRADITIONAL TRAVEL AGENCY MARKET, BY SERVICE TYPES
4.1. Overview
4.2. Transportation
4.3. Travel Accommodation
4.4. Vacation Packages
CHAPTER 5: TRADITIONAL TRAVEL AGENCY MARKET, BY AGE GROUP
5.1. Overview
5.2. 22-31 Years
5.3. 32-43 Years
5.4. 44-56 Years
5.5. >56 Years
CHAPTER 6: TRADITIONAL TRAVEL AGENCY MARKET, BY REGION
6.1. Overview
6.2. North America
6.3. Europe
6.4. Asia-Pacific
6.5. LAMEA
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product mapping of top 10 player
7.4. Competitive dashboard
7.5. Competitive heatmap
7.6. Top player positioning, 2022
CHAPTER 8: COMPANY PROFILES
8.1. Expedia Group, Inc.
8.2. Booking Holdings, Inc.
8.3. Mahindra Holidays & Resorts India Ltd.
8.4. STA Travel
8.5. CWT Global B.V.
8.6. AAA
8.7. Kuoni
8.8. Thomas Cook India Limited
8.9. TUI AG
8.10. Flight Centre Travel Group (FCM)
List of Tables
Table 01. Global Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 02. Traditional Travel Agency Market for Transportation, by Region, 2022-2032 ($ Million)
Table 03. Traditional Travel Agency Market for Travel Accommodation, by Region, 2022-2032 ($ Million)
Table 04. Traditional Travel Agency Market for Vacation Packages, by Region, 2022-2032 ($ Million)
Table 05. Global Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 06. Traditional Travel Agency Market for 22-31 Years, by Region, 2022-2032 ($ Million)
Table 07. Traditional Travel Agency Market for 32-43 Years, by Region, 2022-2032 ($ Million)
Table 08. Traditional Travel Agency Market for 44-56 Years, by Region, 2022-2032 ($ Million)
Table 09. Traditional Travel Agency Market for >56 Years, by Region, 2022-2032 ($ Million)
Table 10. Traditional Travel Agency Market, by Region, 2022-2032 ($ Million)
Table 11. North America Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 12. North America Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 13. North America Traditional Travel Agency Market, by Country, 2022-2032 ($ Million)
Table 14. U.S. Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 15. U.S. Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 16. Canada Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 17. Canada Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 18. Mexico Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 19. Mexico Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 20. Europe Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 21. Europe Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 22. Europe Traditional Travel Agency Market, by Country, 2022-2032 ($ Million)
Table 23. France Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 24. France Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 25. Germany Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 26. Germany Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 27. Italy Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 28. Italy Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 29. Spain Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 30. Spain Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 31. UK Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 32. UK Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 33. Rest of Europe Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 34. Rest of Europe Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 35. Asia-Pacific Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 36. Asia-Pacific Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 37. Asia-Pacific Traditional Travel Agency Market, by Country, 2022-2032 ($ Million)
Table 38. China Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 39. China Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 40. Japan Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 41. Japan Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 42. India Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 43. India Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 44. South Korea Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 45. South Korea Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 46. Australia Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 47. Australia Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 48. Thailand Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 49. Thailand Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 50. Malaysia Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 51. Malaysia Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 52. Indonesia Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 53. Indonesia Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 54. Rest of Asia-Pacific Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 55. Rest of Asia-Pacific Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 56. LAMEA Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 57. LAMEA Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 58. LAMEA Traditional Travel Agency Market, by Country, 2022-2032 ($ Million)
Table 59. Brazil Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 60. Brazil Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 61. South Africa Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 62. South Africa Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 63. Saudi Arabia Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 64. Saudi Arabia Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 65. Uae Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 66. Uae Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 67. Argentina Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 68. Argentina Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 69. Rest of LAMEA Traditional Travel Agency Market, by Service Types, 2022-2032 ($ Million)
Table 70. Rest of LAMEA Traditional Travel Agency Market, by Age Group, 2022-2032 ($ Million)
Table 71. Expedia Group, Inc.: Key Executives
Table 72. Expedia Group, Inc.: Company Snapshot
Table 73. Expedia Group, Inc.: Service Segments
Table 74. Expedia Group, Inc.: Product Portfolio
Table 75. Booking Holdings, Inc.: Key Executives
Table 76. Booking Holdings, Inc.: Company Snapshot
Table 77. Booking Holdings, Inc.: Service Segments
Table 78. Booking Holdings, Inc.: Product Portfolio
Table 79. Booking Holdings, Inc.: Key Stratergies
Table 80. Mahindra Holidays & Resorts India Ltd.: Key Executives
Table 81. Mahindra Holidays & Resorts India Ltd.: Company Snapshot
Table 82. Mahindra Holidays & Resorts India Ltd.: Service Segments
Table 83. Mahindra Holidays & Resorts India Ltd.: Product Portfolio
Table 84. Sta Travel: Key Executives
Table 85. Sta Travel: Company Snapshot
Table 86. Sta Travel: Service Segments
Table 87. Sta Travel: Product Portfolio
Table 88. Cwt Global B.V.: Key Executives
Table 89. Cwt Global B.V.: Company Snapshot
Table 90. Cwt Global B.V.: Service Segments
Table 91. Cwt Global B.V.: Product Portfolio
Table 92. Cwt Global B.V.: Key Stratergies
Table 93. Aaa: Key Executives
Table 94. Aaa: Company Snapshot
Table 95. Aaa: Service Segments
Table 96. Aaa: Product Portfolio
Table 97. Kuoni: Key Executives
Table 98. Kuoni: Company Snapshot
Table 99. Kuoni: Service Segments
Table 100. Kuoni: Product Portfolio
Table 101. Thomas Cook India Limited: Key Executives
Table 102. Thomas Cook India Limited: Company Snapshot
Table 103. Thomas Cook India Limited: Service Segments
Table 104. Thomas Cook India Limited: Product Portfolio
Table 105. Thomas Cook India Limited: Key Stratergies
Table 106. Tui Ag: Key Executives
Table 107. Tui Ag: Company Snapshot
Table 108. Tui Ag: Service Segments
Table 109. Tui Ag: Product Portfolio
Table 110. Tui Ag: Key Stratergies
Table 111. Flight Centre Travel Group (Fcm): Key Executives
Table 112. Flight Centre Travel Group (Fcm): Company Snapshot
Table 113. Flight Centre Travel Group (Fcm): Service Segments
Table 114. Flight Centre Travel Group (Fcm): Product Portfolio
Table 115. Flight Centre Travel Group (Fcm): Key Stratergies
List of Figures
Figure 01. Traditional Travel Agency Market, 2022-2032
Figure 02. Segmentation of Traditional Travel Agency Market, 2022-2032
Figure 03. Top Impacting Factors in Traditional Travel Agency Market
Figure 04. Top Investment Pockets in Traditional Travel Agency Market (2023-2032)
Figure 05. Moderate Bargaining Power of Suppliers
Figure 06. Moderate Threat of New Entrants
Figure 07. Moderate Threat of Substitutes
Figure 08. Moderate Intensity of Rivalry
Figure 09. Moderate Bargaining Power of Buyers
Figure 10. Global Traditional Travel Agency Market: Drivers, Restraints and Opportunities
Figure 11. Traditional Travel Agency Market, by Service Types, 2022 and 2032 (%)
Figure 12. Comparative Share Analysis of Traditional Travel Agency Market for Transportation, by Country 2022 and 2032 (%)
Figure 13. Comparative Share Analysis of Traditional Travel Agency Market for Travel Accommodation, by Country 2022 and 2032 (%)
Figure 14. Comparative Share Analysis of Traditional Travel Agency Market for Vacation Packages, by Country 2022 and 2032 (%)
Figure 15. Traditional Travel Agency Market, by Age Group, 2022 and 2032 (%)
Figure 16. Comparative Share Analysis of Traditional Travel Agency Market for 22-31 Years, by Country 2022 and 2032 (%)
Figure 17. Comparative Share Analysis of Traditional Travel Agency Market for 32-43 Years, by Country 2022 and 2032 (%)
Figure 18. Comparative Share Analysis of Traditional Travel Agency Market for 44-56 Years, by Country 2022 and 2032 (%)
Figure 19. Comparative Share Analysis of Traditional Travel Agency Market for >56 Years, by Country 2022 and 2032 (%)
Figure 20. Traditional Travel Agency Market by Region, 2022 and 2032 (%)
Figure 21. U.S. Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 22. Canada Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 23. Mexico Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 24. France Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 25. Germany Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 26. Italy Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 27. Spain Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 28. UK Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 29. Rest of Europe Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 30. China Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 31. Japan Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 32. India Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 33. South Korea Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 34. Australia Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 35. Thailand Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 36. Malaysia Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 37. Indonesia Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 38. Rest of Asia-Pacific Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 39. Brazil Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 40. South Africa Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 41. Saudi Arabia Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 42. Uae Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 43. Argentina Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 44. Rest of LAMEA Traditional Travel Agency Market, 2022-2032 ($ Million)
Figure 45. Top Winning Strategies, by Year (2020-2023)
Figure 46. Top Winning Strategies, by Development (2020-2023)
Figure 47. Top Winning Strategies, by Company (2020-2023)
Figure 48. Product Mapping of Top 10 Players
Figure 49. Competitive Dashboard
Figure 50. Competitive Heatmap: Traditional Travel Agency Market
Figure 51. Top Player Positioning, 2022
Figure 52. Expedia Group, Inc.: Net Sales, 2020-2022 ($ Million)
Figure 53. Expedia Group, Inc.: Revenue Share by Region, 2022 (%)
Figure 54. Expedia Group, Inc.: Revenue Share by Segment, 2022 (%)
Figure 55. Booking Holdings, Inc.: Net Revenue, 2020-2022 ($ Million)
Figure 56. Booking Holdings, Inc.: Revenue Share by Region, 2022 (%)
Figure 57. Mahindra Holidays & Resorts India Ltd.: Net Revenue, 2020-2022 ($ Million)
Figure 58. Thomas Cook India Limited: Net Revenue, 2020-2022 ($ Million)
Figure 59. Thomas Cook India Limited: Revenue Share by Segment, 2022 (%)
Figure 60. Thomas Cook India Limited: Revenue Share by Region, 2022 (%)
Figure 61. Tui Ag: Net Revenue, 2020-2022 ($ Million)
Figure 62. Tui Ag: Revenue Share by Segment, 2022 (%)
Figure 63. Tui Ag: Revenue Share by Region, 2022 (%)

Executive Summary

According to the report, the traditional travel agency market was valued at $143.9 billion in 2022, and is estimated to reach $212.9 billion by 2032, growing at a CAGR of 3.7% from 2023 to 2032.

The traditional travel agency sector has long been a pillar of the travel and tourism business, providing specialized services and knowledge to customers looking for help with trip planning and booking. However, with the growth of online booking platforms and shifting consumer preferences, this company has recently experienced considerable challenges and changes.

Traditional travel agencies were for many years the go-to place for travelers wishing to arrange their vacations, business trips, and other getaways. Customers may speak with knowledgeable consultants at these one-stop shops who had in-depth knowledge of a variety of locations, travel possibilities, lodgings, and activities. Due to this individualized approach, tourists were able to get recommendations that were specifically suited to their needs, interests, and financial constraints.

The global traditional travel agency market is analyzed on the basis of services type, age group, and region. By services type, the market is divided into transportation, travel accommodation, and vacation packages. By age group, the market is segmented into 22-31 years, 32-43 years, 44-56 years, and >56 years. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (France, Germany, Italy, Spain, the UK, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and the rest of LAMEA).

The personal touch that traditional travel firms provided constituted one of their main benefits. Customers speak with knowledgeable agents directly or over the phone about their travel plans, who offer advice, handle problems, and share insights. Agents and clients developed trust and loyalty as a result of this level of personal connection, resulting in enduring relationships and repeat business.

However, the introduction of the Internet and online booking tools resulted in a fundamental transformation of the travel sector. Consumers now have a variety of information at their fingertips about locations, flights, hotels, and reviews. As a result of this empowerment, a growing trend in DIY travel planning emerged in which people started to plan and reserve their own vacations. By offering simple user interfaces and a variety of options, online travel agencies (OTAs) and booking platforms like Expedia, Booking.com, and TripAdvisor tapped into this trend.

Although initially reluctant to adjust to this digital disruption, the traditional travel agency sector finally understood that it was necessary to create an online presence in order to stay competitive. Numerous conventional agencies created their own websites and started providing online booking services in addition to their offline business. By using a hybrid business strategy, they were able to serve a wider range of clients while retaining some of the individualized attention that made them unique.

The traditional travel agency market, however, faced several obstacles. One of the key challenges is the idea that their services come at greater rates when compared to the allegedly lower prices supplied by online marketplaces. There has also been a movement in attitudes towards self-service, seamless experiences, and more control over travel options as younger generations of travelers have arisen. These developments strengthened the dominance of online platforms.

Traditional travel agencies needed to innovate if they wanted to prosper. Many moved their attention to specialty travel services and niche markets, which called for in-depth knowledge and individualized care. Luxury travel, adventure travel, group tours, and destination weddings were among these areas where customers were more inclined to respect the knowledge and advice of travel experts.

Travelers of today are becoming more independent and technologically sophisticated. They frequently choose conducting independent research and making travel plans utilizing online tools. The use of conventional travel agencies has reduced as a result of this change in consumer behavior. Online marketplaces and OTAs have made significant technological investments to provide specialized travel advice and experiences. Traditional travel agencies find it difficult to offer the same degree of individualized service, which reduces their appeal to specific traveler demographics.

Thus, the growth of online booking platforms and changing consumer tastes have significantly altered the old travel agency sector. Despite difficulties, the conventional paradigm of in-person consulting and individualized service has not gone out of style. Instead, by adjusting to shifting consumer needs and providing specialized services that target particular market niches, it has developed to coexist alongside online platforms. Travelers looking for one-of-a-kind experiences and individualized advice in a challenging and constantly evolving travel environment continue to value the human touch and knowledge that traditional travel agencies offer.

The major players analyzed in the global traditional travel agency industry are Expedia Group Inc., Booking Holdings, Mahindra Holidays, STA Travel, Carlson Wagonlit Travel (CWT), AAA Travel, Kuoni Group, Thomas Cook, TUI AG, and Flight Center Travel Group Limited.

KEY FINDINGS OF STUDY

By services type, transportation was the largest segment in 2022.

As per age group, 32-43 Years is the fastest growing segment during the forecast period.

Region wise, Europe region was the highest revenue contributor in 2022.

Companies Mentioned

  • Kuoni
  • CWT Global B.V.
  • Flight Centre Travel Group (FCM)
  • Booking Holdings, Inc.
  • STA Travel
  • Thomas Cook India Limited
  • TUI AG
  • AAA
  • Expedia Group, Inc.
  • Mahindra Holidays & Resorts India Ltd.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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