Over the past decade, the production in the Travel Agency Activities sector in Denmark has experienced significant fluctuations. From 2013 through 2016, the industry saw a mix of declines and growth, with a notable drop in 2016. The sector experienced a monumental surge of 230.37% in 2017, followed by high values in subsequent years until 2020, when the industry faced a sharp decline of 66.29% due to the COVID-19 pandemic. This was followed by a strong rebound in 2021 and continued growth up through 2023.
In 2023, production stood at 7.94 Billion Danish Krones, marking an increase of 21.96% from the previous year. Over the past five years, the industry’s Compound Annual Growth Rate (CAGR) was -0.64%, reflecting the severe dip due to the pandemic but strong recovery efforts afterward. The forecast for the next five years shows a more stable upward trend at a CAGR of 3.72%, with production expected to reach 10.05 Billion DKK by 2028.
Future trends to watch for include the continued recovery and stabilization post-pandemic, the impact of technological advancements in travel services, and emerging consumer preferences towards sustainable and experiential travel. These factors will shape the strategic decisions and adaptation requirements of travel agencies in Denmark.