Between 2013 and 2019, the travel agency and tour operator output in France experienced steady growth, with a notable year-on-year increase peaking at 5.25% in 2018. The industry reached a value of 8.05 billion Euros in 2019 before witnessing a dramatic drop in 2020 due to the impact of the COVID-19 pandemic, reflecting a 67.29% decline. Despite this, the industry has shown a resilient recovery with a significant rebound in 2022 and a strong growth of 17.53% in 2023, standing at 8.32 billion Euros by end of 2023.
Looking ahead, forecasted data from 2024 to 2028 indicates continuous growth, with a five-year CAGR of 1.25% and an anticipated value of 9 billion Euros by 2028. The projected year-on-year growth rates show a consistent upward trajectory, emphasizing a stable recovery and expansion.
Future trends to watch for include:
- The impact of digital transformation on traditional travel agencies.
- Rising demand for personalized and sustainable travel experiences.
- Potential external shocks such as geopolitical tensions and economic downturns.
- Consumers’ changing preferences post-pandemic.
