The employment in the Travel Agency Activities sector in Austria exhibited fluctuations over the past decade. The headcount stood at 6.71 thousand FTEs in 2023. Since 2013, the sector showed modest changes, declining more notably in 2020 due to the pandemic, resulting in a 12.01% drop from the prior year. Recovery efforts post-2020 resulted in year-on-year increases, with a significant rise in 2021 (2.98%) and continued growth through 2023 (2.3%). Over the last five years, the cumulative annual growth rate (CAGR) was -0.29%.
From 2024 onwards, forecasts predict a slight but steady decline through to 2028, with a forecasted five-year CAGR of -0.12%. Future trends to watch include potential impacts of digitalization, shifts in consumer travel behavior, and economic conditions influencing travel demand. Monitoring technological advancements and their integration into travel services will be critical for anticipating employment trends in this sector.
- 2013: Slight growth (0.1% year-on-year, -0.59% 5-year CAGR)
- 2014: 1.04% year-on-year increase
- 2015-2017: General decline; -2.5% in 2017
- 2018-2019: Recovery, reaching 2.57% growth in 2019
- 2020: Significant drop of -12.01% due to the pandemic
- 2021-2023: Post-pandemic recovery; gradual growth to 6.71 thousand FTEs in 2023
Future Trends to Watch:
- Impact of Digitalization
- Shifts in Consumer Travel Behavior
- Economic Conditions Influencing Travel Demand
