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    Travel Agencies & Services Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 4/19/2021
    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 (formerly Priceline), CWT (formerly Carlson Wagonlit), 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 services, is about $1.3 trillion, according to the World Tourism Organization. Travel agency services are prevalent in the countries that spend the most on tourism; tourist receipts, which include travel arrangements and reservation services, are highest in the US, Spain, France, Thailand, and the UK.

    The US travel services industry includes about 20,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $55 billion.

    COMPETITIVE LANDSCAPE

    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 fragmented: the 50 largest companies account for about 45% of revenue.

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