Forecast: Employment in Travel Agency and Tour Operator Activities Sector in Belgium

The employment in the Travel Agency and Tour Operator Activities sector in Belgium has experienced significant fluctuations from 2013 to 2023. In 2023, employment stood at 5.94 thousand Full-Time Equivalents, reflecting a 10.81% year-on-year increase from 2022. Over the past decade, this sector saw considerable variations, notably a steep decline in 2020 with a -48.53% change due to the impact of the COVID-19 pandemic, followed by a robust recovery in subsequent years.

From 2018 to 2023, the Compound Annual Growth Rate (CAGR) was -3.89%, indicating an overall contraction with intermittent periods of recovery. The forecasted CAGR for the next five years (2024 to 2028) is expected to nearly stabilize at 0.04%, suggesting a minor growth trend.

Future trends to watch for in this sector include potential impacts of economic recovery post-pandemic, technological advancements in travel booking, and evolving consumer preferences towards more personalized and experiential travel options. Emerging trends such as sustainable travel and the use of artificial intelligence in customer service could also shape employment patterns in this sector.