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Quick Info on the Travel Industry
- In the past few years, there has been an increase in customers seeking out authentic cultural experiences in their travel, which has benefited travel franchises.
- The industry has brought in approximately $2 billion in revenue with a 4.7 percent annual growth rate each year since 2013. The industry employs more than 13,000 people and is comprised of more than 6,500 different businesses.
- The travel industry is comprised of both small and large businesses. Some travel franchises provide abundant resources and cater to mostly corporate or business clients. These businesses assist with large-scale corporate conferences or expositions.
- The travel franchise industry has seen consistent, positive progress over the past five years, according to Ibis World. The cruise and travel franchise industry present superior performance to the overall travel agency industry.
- Many trends have influenced and shaped the travel franchise industry of today. Primary among these trends is the growing desire to travel by cruise. According to the Cruise Line International Association, 27.2 million people are estimated to use cruise lines for their form of vacation and travel this year.