The travel agency industry is thriving, and a new report confirms it.
The travel agency market is booming thanks to high demand, rising prices, and an evolving advisory landscape.
In 2023, gross bookings surged 28%, reaching $109.7 billion, marking a strong post-pandemic rebound. Though growth may slow slightly, the report projects a 9% increase in travel agency sales in both 2024 and 2025. Leisure agencies are expected to lead the way, while corporate travel agencies are regaining momentum.
Leisure vacation planning continues to be the most lucrative segment, making up 65% of agency sales, with high-end experiences, cruises, and tours driving this growth.
Cruise bookings, in particular, saw a remarkable 152% increase in 2023, with agencies handling two-thirds of all cruise bookings.
Looking ahead, the future looks bright for travel agencies. By 2027, they are expected to account for a quarter of all U.S. travel sales.
