2023 Travel Industry Survey: Key Insights for Agencies and Advisors
Travel Weekly and Phocuswright joined forces to present the findings of the 2023 Travel Industry Survey, offering insights into the current landscape of travel agencies and advisors across the United States. With responses from 1,328 professionals in the field, the survey highlighted positive outlooks, shifting demographics, and evolving communication trends within the travel industry.
Key Points
Optimistic Future
Nearly 80 percent of travel advisors expressed a positive outlook for the future of the agency landscape.
Home-Based Thriving
With 84 percent identifying as home-based agents, the survey indicated a thriving industry, particularly for those working remotely.
International Travel Surge
International travel constituted 78 percent of agency bookings in 2022, surpassing previous records set in 2018.
All-Inclusive Bookings Rise
Sixty-five percent of advisors reported an increase in all-inclusive gross bookings over the past 12 months.
Targeting Older, Wealthier Clients
While Millennials and Gen Z use advisors, the survey revealed that agents primarily target older and wealthier clients, with 72 percent over 40 years old and 55 percent earning at least $100,000 annually.
Experience and Income
The survey found a correlation between industry experience and income, with advisors in business for at least 11 years earning the most.
Client Relationship Buildin
Changing Communication Platform
Instagram usage among agents increased by 10 percent (60 percent overall), while Facebook remained the most popular platform. LinkedIn was significant, but X (formerly Twitter) usage declined to nine percent.
Age and Communication Preferences
Ninety percent of respondents under 36 used Facebook for client communication, 81 percent for Instagram, and 16 percent for TikTok.
Ninety percent of respondents under 36 used Facebook for client communication, 81 percent for Instagram, and 16 percent for TikTok.Marketing Strategies
Face-to-face marketing remains strong, with over 40 percent of agents using customer events. Paper flyers are still utilized by more than 30 percent, surpassing paid online ads.
