Traditional Travel Agency Market Report, Size, Share, Growth, Trends, Competitive Landscape to 2033

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The new report published by The Business Research Company, titled Traditional Travel Agency Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the traditional travel agency market size has grown strongly in recent years. It will grow from $141.4 billion in 2023 to $149.14 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The traditional travel agency market size is expected to see strong growth in the next few years. It will grow to $185.4 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.

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What Is Driving The Growth Of The Global Traditional Travel Agency Market?

Rising Corporate Travel Demand To Drive Growth In Traditional Travel Agency Market
The increasing demand for corporate travel is expected to propel the growth of the traditional travel agency market going forward. Corporate travel refers to work-related trips taken by employees or business representatives, including meetings, conferences, and client visits. The rising demand for corporate travel is fueled by expanding business activities. Additionally, the shift to remote and hybrid work models and a heightened focus on face-to-face client interactions increased travel for strengthening relationships and securing deals. Traditional travel agencies in corporate travel handle booking, itinerary management, and travel support, providing tailored services to streamline travel processes for businesses. For instance, in January 2024, according to a recent survey of 700+ business travel professionals from 41 countries conducted by the Global Business Travel Association (GBTA), a US-based organization, 83% of travel buyers reported an increase in their global business travel bookings for 2023 compared to 2022, with 31% experiencing a significant rise, 37% a moderate increase, and 15% a slight improvement. Furthermore, 59% of buyers anticipate a further increase in the number of business trips within their companies in 2024 compared to the current year. Therefore, the increasing demand for corporate travel will drive the growth of the traditional travel agency market.

What Is The Key Trend In The Global Traditional Travel Agency Market?

Leveraging Direct-To-Market Expansion For Enhanced Client Engagement And Operational Efficiency
Major companies operating in the traditional travel agency market are focusing on high-growth business development opportunities, such as direct-to-market expansion, to serve local clients better and enhance operational control. Direct-to-market expansion refers to a strategy where a travel agency establishes its operations, office, or presence in a specific market or region rather than relying on partnerships or intermediaries to interact directly with clients in that market, offering tailored services and personalized experiences. For instance, in June 2022, FCM Travel Solutions, an Australia-based travel management company, inaugurated a new, dedicated office in Tokyo. This strategic move includes a team of expert consultants to enhance the company's capabilities across Asia. This direct-to-market expansion underscores FCM's commitment to integrating cutting-edge technology, including its innovative platform. The decision to deepen FCM's presence in Japan reflects evolving customer demands and acknowledges the significant business development potential within the country.

How Is The Global Traditional Travel Agency Market Segmented?
The traditional travel agency market covered in this report is segmented -

1) By Service Types: Transportation, Travel Accommodation, Vacation Packages
2) By Tourist Type: Domestic, International
3) By Age Group: 22-31 Years, 32-43 Years, 44-56 Years, Over 56 Years

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How Is The Competitive Landscape Of The Global Traditional Travel Agency Market?
Major companies operating in the traditional travel agency market are TUI AG, Booking Holdings Inc, Expedia Group Inc, CWT Global BV, American Express Global Business Travel, Flight Centre Travel Group Limited, Travelport Worldwide Ltd, Frosch International Travel, Thomas Cook (India) Ltd, BCD Travel, Abercrombie & Kent, Corporate Travel Management, JTB Corporation, G Adventures, Frosch Travel, Contiki, Travel Leaders Group, STA Travel, Classic Travel, HRG (Hogg Robinson Group), Kuoni Travel Ltd, Airtreks, National Geographic Expeditions, AAA Travel, Journese

Contents Of The Global Traditional Travel Agency Market
1. Executive Summary
2. Traditional Travel Agency Market Report Structure
3. Traditional Travel Agency Market Trends And Strategies
4. Traditional Travel Agency Market - Macro Economic Scenario
5. Traditional Travel Agency Market Size And Growth
…..
27. Traditional Travel Agency Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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