A review of the travel agency and tour operator output in Denmark reveals a relatively stable market with some significant fluctuations. Between 2013 and 2019, the market saw modest but consistent growth, peaking at 18.21 billion DKK in 2019. However, the COVID-19 pandemic caused a dramatic decline in 2020, with output plummeting by nearly 70%. Recovery began in 2021, with a substantial year-on-year increase, and gained momentum through 2022 and 2023. By 2023, the output had reached 19.25 billion DKK.
The five-year CAGR from 2018 to 2023 was a modest 1.09%, indicating gradual recovery and growth. Looking ahead, the forecast from 2024 to 2028 suggests continued growth, with a projected CAGR of 1.33%. By 2028, the market is expected to reach 20.93 billion DKK, marking a 6.82% growth from 2023.
Future trends to watch for:
- Digital transformation in travel booking and customer service.
- Increased focus on sustainable and eco-friendly travel packages.
- Growth in domestic tourism and local experiences.
- Potential market volatility due to economic or geopolitical factors.
- Enhanced use of data analytics to tailor travel offerings to consumer preferences.
