Jamie Biesiada
Despite the influx of new advisors the industry has seen in recent years, the Travel Institute still has concerns that there will not be enough experienced agents to serve travelers in the next decade.
"New to the industry does not mean young in the travel industry, which has become an attractive career option in recent years for people from all walks of life and at all stages of their careers, including those looking for a second or even third career," Diane Petras, president of the Institute, said in a release.
"As an industry, this is important for us to understand," Petras added, "because we need to ensure we also have individuals in our talent pipeline who are open to a lifelong career in travel. With time and experience, new-to-the-industry, dedicated apprentices become our veteran leaders."
The Institute last week released some findings from its Changing Face of Travel Agents 2023 study, based on a survey of advisors. Similar surveys were conducted in 2008 and 2018, offering some interesting comparisons.
The survey confirmed that more advisors are now working as independent contractors (ICs) than employees. This year, 71% of respondents reported being ICs. The remaining 29% are employees.
Those numbers have been steadily shifting over the years, and interestingly, were exactly the opposite in 2008, when 29% were ICs and 71% were employees. By 2018, 62% were ICs and 38% were employees.
Today's ICs are more likely to work part time. According to the survey, 50% work an average of 31 or more hours per week, while 85% of employees work the same amount of time. Additionally, 34% of ICs said they are part-timers, compared with only 9% of employees. The Institute also found that more experienced advisors are likely to work more in a week.
At the same time, the industry has lost talent in recent years because of the pandemic. According to the Institute's survey, 36% of agencies reported losing experienced staffers, and 44% said they replaced them with a mix of experienced and new agents; 56% didn't replace the staff they lost.
And, advisors are aging. Now, 66% of survey respondents were over 50, compared with 52% in 2018 and 11% in 2008. In this year's survey, only 6% said they were under 35, compared with 11% in 2018 and 9% in 2008.
Petras said that the high number of part-time, older ICs could result in a lack of experienced advisors to serve the traveling public.
However, interest in the profession has not waned. In a typical year, the Travel Institute trains an average of 2,000 new agents with its Tripkit course. This year, it is on track to train 5,000.
"So, while the number of new agents currently coming into the industry is high, Petras cautions, their weekly commitment level to serving traveler demand remains to be seen," the Institute said.
This is "both a wake-up call and an opportunity" for the industry, Petras said. At this time, it's important to invest in new advisor onboarding and education.
"Industry leadership needs to collectively ensure we are attracting and retaining young, dedicated individuals who we are able to transform into experienced, capable leaders, who will eventually take the industry reins and ensure it not only survives, but thrives," Petras said.