Travel agency industry - statistics & facts

Travel agencies are businesses that operate by selling tourism and travel-related services to the public on behalf of different travel suppliers. In addition to recreational tourist activities, they also provide accommodation and transportation services, as well as handling the logistics of booked trips, among other products. Travel agencies include both brick-and-mortar establishments and those based entirely online. The market size of the global online travel industry alone was estimated at over 470 billion U.S. dollars in 2022. This figure was expected to rise further in 2023, as companies gradually recovered from the impact of the coronavirus (COVID-19) pandemic on tourism.

Leading travel agencies worldwide

Though brick-and-mortar travel agencies have been a cornerstone of the industry since its inception, the rise of the online travel market over the last two decades has significantly transformed the business of travel, with many travel agencies emerging solely as online entities which are referred to as online travel agencies (OTAs). In this respect, OTAs such as Booking Holdings and Expedia Group were among the leading online travel companies worldwide ranked by market cap in 2022. Aside from booking vacations online through OTAs, travelers often turn to websites that offer reviews and ratings of destinations, accommodation, and travel experiences. One such platform is Tripadvisor, one of the most visited travel and tourism websites worldwide. Although the travel agency market is currently largely web-based, other companies also rely on physical stores. This is the case of TUI AG, whose global revenue totaled more than 16 billion euros in 2022, rising sharply compared to the first two years of the health crisis but remaining below pre-pandemic levels.

Is the travel agency industry recovering from the impact of COVID-19?

The COVID-19 pandemic posed unprecedented challenges for the travel agency industry, as the travel restrictions enforced worldwide to limit the spread of the virus upended international trips. The market size of the U.S. travel agency industry alone nearly halved in 2020 from 2019, but it rose steadily in the following two years as travel demand gradually increased. Meanwhile, after reporting a dramatic drop in earnings with the onset of the health crisis, the leading OTAs showed strong signs of recovery in 2022. That year, for instance, the revenue of Booking Holdings worldwide amounted to over 17 billion U.S. dollars, surpassing pre-pandemic levels. Similarly, the global revenue of Expedia Group, Inc. generated by the lodging segment was higher in 2022 than in 2019, though the company’s total earnings stayed slightly below the peak recorded prior to the health crisis.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Aug 30, 2023

Key insights

Online travel market size worldwide
474.89bn USD
Market size of the travel agency industry in the U.S.
48.53bn USD
Market size of the tour operator industry in the U.S.
7.99bn USD
Get more insights

Editor’s Picks Current statistics on this topic

Market size of the travel agency services industry worldwide from 2013 to 2022, with a forecast for 2023 (in million U.S. dollars)

Tour Operators & Travel Agencies

Market size of the travel agency services industry worldwide 2013-2022

Online travel market size worldwide from 2020 to 2022, with a forecast for 2023 and 2030 (in billion U.S. dollars)

Online Travel Market

Online travel market size worldwide 2020-2030

Leading online travel agencies (OTAs) worldwide from 2019 to 2021, by revenue (in billion U.S. dollars)

Online Travel Market

Revenue of leading online travel agencies (OTAs) worldwide 2019-2021

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