In 2013, 55% of travel agencies reported an increase in revenue, 53% reported an increase in transactions and 55% reported an increase in clients, according to a survey of ASTA members in January and February.
Last year, more than half of agencies surveyed reported stronger revenues, as well.
“A second year of strong growth shows that agencies are connecting with consumers who want to work with a travel professional,” said Zane Kerby, ASTA’s president and CEO. “ASTA agencies are confident that they can continue to expand their business in 2014.”
Corporate agencies reported the strongest performance in 2013, with 65% reporting increased revenue and 57% reporting an increase in clients.
Fifty-six percent of retail leisure agencies reported increased revenue; 59% reported an increase in clients. Forty-four percent of independent agents (for the purposes of this study, ASTA defined independent agents as owner/agents, independent contractors or hosted agents) reported increased revenue and 46% reported an increase in the number of clients.
Sixty-four percent of travel agencies reported a profit in 2013. When broken out, 72% of corporate agencies, 62% of retail leisure agencies and 57% of independent agents reported profits.
In 2014, retail leisure agencies forecast an 11% profit, independent agents a 13% profit and corporate agencies a 10% profit.
Survey data was collected through the 2014 ASTA Research Family, a panel that is a representative sample of ASTA member travel agency owners and manager. The reply level indicates a minimum of 95% confidence with an error rate +/- 5%.
Follow Kate Rice on Twitter @krtravelweekly.
Growth chart graphic courtesy of Shutterstock.