New study forecasts growth for travel agencies

16 Sep 2014
Study shows that affluent travelers are becoming more likely to use travel agencies.

Study shows that affluent travelers are becoming more likely to use travel agencies. 

Study shows that affluent travelers are becoming more likely to use travel agencies.

Study shows that affluent travelers are becoming more likely to use travel agencies.

According to a study conducted by MMGY, a global marketing communications firm, travel agents can confidently look forward to capturing a larger chunk of the travel market during the next two years. MMGY's 2014 Portrait of Affluent Travelers asserts that the next 24 months will see 21 percent of affluent travelers with incomes above $125,000 plan to use a travel agent, and 29 percent of those earning more than $250,000 annually.

The numbers mark "significant" increases in the number of high-earning travelers who used travel agencies in the past, according to Steve Cohen, MMGY Global's vice president of insights and research. In the previous year, 17 percent of those making $125,000 and 24 percent of those earning more than $250,000 were using travel agents.

"In everything we do, we see agents making a comeback," Cohen tells Travel Market Report. "Millennials and the wealthy are leading the way in the comeback."

With some of the most common reasons for affluent travelers choosing travel agencies including "better support if something goes wrong, particularly with a flight" and " the extra level of service agents provide" it's important for agents to capitalize on the upward trend with sound engagement practices.

There are no statistics suggesting that travel agencies will re-experience the success of the days before the internet came to prominence, but, more than ever, now is the time to promote your brand. When making a first impression, sometimes minor details like remembering to smile, good eye contact and, of course, timeliness are a few of the trustworthy acts that will help you capitalize on the growing opportunities that our industry is experiencing.

Another important matter to remember is that Travel Placement Service Inc. has the expertise and connections you're looking for when trying recruit or secure a position as a corporate travel manager. Contact us today!