We launched our first U.S. passenger airline sector estimates and U.S. accommodation sector estimatesreports in 2019. We will continue to size up the travel industry in 2020. In this report, we turn to the travel arrangement and reservation services sector. This is a complex sector that includes travel agencies, tour operators, online reservation and booking services, ticket offices, convention and visitors bureaus, etc. We estimate that the total travel arrangement and reservation services sector in the U.S. generated $54.8 billion revenue in 2019 and forecast the sector to grow 5% to reach $57.5 billion in revenue in 2020. Travel agencies are still the largest subsector in this industry. With an estimated $23.3 billion in revenue, travel agencies will account for 40.4% of industry revenue in 2020.
We arrive at our proprietary estimates by analyzing our internal consumer survey data, relevant data aggregated in our previous reports, as well as many reputable sources, including the U.S. Economic Census, U.S. Census Service Annual Survey (SAS) and Quarterly Services Survey (QSS), U.S. Bureau of Economic Analysis Travel and Tourism Satellite Accounts, U.S. Bureau of Labor Statistics Current Population Survey (CPS) and Occupational Employment Statistics (OES) Survey, and Statista.
What You'll Learn From This Report
- U.S. travel arrangement and reservation services sector market size estimates, 2015–2020
- U.S. market size estimates for travel agencies, 2015–2020
- U.S. market size estimates for tour operators, 2015–2020
- U.S. market size estimates for ticket and reservation services, 2015–2020
- Key operational and performance estimates for 2019, including number of companies, properties, and corresponding revenue
- Employment statistics for travel agents, tour operators, reservation and transportation ticket agents, and travel clerks, 2014–2018
- Analysis of U.S. Economic Census data