Travel agencies have focused greatly on five travel products for the past several years – ocean cruises, vacation packages, family travel, tours and resorts and spas. These products consistently have response rates above 30%. New this year to the 30%-plus club is river cruises (31%). But the biggest gainer overall this year was vacation packages, which jumped from 47% to 56% among all our respondents.
Cruises remain the chief source of revenue for travel agents: Ocean and river cruises represent 34% of total sales for all agents. Air travel has rebounded after being on a downward trend for many years increasing 2% from 2016.
Leisure vs. Business
Business as a percentage of total sales mix is on the rise and represented 22% of bookings. In addition, the ‘bleisure’ trend is also growing and is 8% of leisure products sold, as a percentage of revenue.
International vs. Domestic
The ration of domestic and international bookings has flipped since 2003. Respondents reported 59% international bookings versus 41% domestic bookings.
Bright Outlook for Bookings
Regardless if an agent is home-based or in a traditional agency, 68% say they have increased sales over the last two years with 63% expecting sales will continue to grow in the upcoming year.