Travel Intermediaries Business Market Set to Reach US$ 899.7 Million with a 6% CAGR by 2033 | Future Market Insights, Inc.
The Asia-Pacific region is experiencing significant growth in the travel intermediaries market due to the increasing number of travelers, rising disposable incomes, and the emergence of various online travel agencies and booking platforms.
NEWARK, Del, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The travel intermediaries business market is anticipated to expand its roots at an average *CAGR of 6.0% *between 2023 and 2033. The market is expected to have a market share of *US$ 899.7 million* by 2033, while it is likely to be valued at *US$ 502 million* in 2023.· Restoration of the travel and tourism industry post-pandemic, people wanting to travel with a plan and make it a memorable trip is pushing them to hire travel intermediaries. Furthermore, the affordable service charges, higher convenience, and all the travel necessities at one plate are helping people with their travel goals.*Request Sample Report and Drive Impactful Decisions: *https://www.futuremarketinsights.com/reports/sample/rep-gb-3679
· Travel intermediary businesses delivering different types of travel experiences and options to end users are also attracting people to adopt these services. Alongside this, cost-effectiveness becomes another important factor that pushes travelers to consider travel intermediaries.
· New lucrative travel packages, promotion of excess inventories, reduced customer acquisition costs, and B2B tourism is garnering market growth. Furthermore, the governments easing their tourist visa policies and providing special packages are also transforming the market growth.
· Elements like new business plans, online applications, discounted packages, and custom-made travel requirements are likely to make travel intermediary businesses more valuable to the end users. *Key Points*
1. The United States market leads the travel intermediaries business market in terms of market share in North America. The United States region held a market share of 13.08% in 2022. The growth in this region is attributed to higher tourist activities, increasing per capita income, and new travel rules set by the governments. The North American market held a share of 25% in 2022.
2. The German market is another important market in the European region. The market held a market share of 5% in 2022. The growth is attributed to the higher tourist footfall due to the rich German history, flourishing tourism sector, and presence of many travel intermediaries businesses. The European market held a market share of 19.0% in 2022.
3. The India travel intermediaries business* *market thrives at a CAGR of 3.9% between 2023 and 2033. The growth is attributed to several people visiting India and the unconventional way of traveling.4. The China market also thrives at a CAGR of 4.4% during the forecast period. The flourishing growth is caused by the government promoting tourism.
5. Based on the mode of transport, the air segment leads the market as it held a share of 45% in 2022.
6. Based on the mode of booking, the online segment leads the market as it held a market share of 48.0% in 2022.
*“The recent market research study on Travel Intermediaries Business reveals a dynamic landscape where these intermediaries serve as essential connectors between travelers and their desired destinations. The study underscores their crucial role in enhancing convenience and delivering expert guidance, thereby contributing to memorable travel experiences for consumers." *Opines Sneha Verghese, Senior Consultant for Travel and Tourism at Future Market Insights (FMI).
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*Competitive Landscape*
The key businesses try to work on covering everything during the trip, better consultation, and effective travel planning. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
*Recent Market Developments*
· Vantage Deluxe is celebrating its 40 years in business and has introduced its anniversary sale that involves different discounts and free international airfare.
· In 2023, Thomas Cook (India) launched the Study Buddy Card, which offers powerful benefits and targets key source markets.
*Key Players*
· Expedia Groups
· Booking Holdings
· BCD Travel
· Vantage Deluxe
· World Travel
· Global Work and Travel Company
· Global Vacation Network
· Thomas Cook
· Zicasso*Purchase Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges: *https://www.futuremarketinsights.com/checkout/3679
*Key Segments Covered*
*By Service Type:*
· Vacation Packages
· Travel
· Accommodation*By Mode of Transport:*
· Air
· *Others*
*By Mode of Booking:*
· Online
· Offline
· Direct*Key Regions Covered:*
· North America
· United States
· Canada
· Latin America
· Brazil
· Mexico
· Rest of Latin America
· Europe
· Germany
· United Kingdom
· France
· Spain
· Russia
· Rest of Europe
· Japan
· Asia Pacific Excluding Japan
· China
· India
· Malaysia
· Singapore
· Australia
· Rest of Asia Pacific Excluding Japan (APEJ)
· The Middle East and Africa
· GCC Countries
· Israel
· South Africa
· Middle East and Africa (MEA)*Author:*
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
*Explore FMI's Extensive Ongoing Coverage of Travel and Tourism Insights*
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· The digital travel market size is expected to advance at a CAGR of 15%. (2022 to 2032). From US$ 400 billion in 2022, experts predict that the digital travel market is expected to expand to US$ 1,618 billion by 2032.*About Future Market Insights (FMI) *
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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