Analyzing the Gross Value Added (GVA) of European Travel Agencies and Tour Operators in 2024, the Netherlands leads with €5.43 billion, followed by Spain at €3.38 billion and Italy at €2.4 billion. Belgium, Greece, Ireland, Cyprus, Latvia, and Estonia trail behind, reflecting smaller market sizes.
From 2023 to 2024, the Netherlands saw a GVA decline of 1.55%, while Spain, Italy, Belgium, and Cyprus experienced positive growth rates of 1.51%, 1.32%, 1.22%, and 2.34%, respectively. Conversely, Greece, Ireland, and Estonia encountered significant drops of 10.55%, 2.63%, and 7.44% respectively. Latvia saw a minor 1.0% reduction.
Examining a five-year horizon reveals compounded annual growth rate trends, indicating varying resilience and volatility across markets. Future regions' performance will likely be influenced by macroeconomic conditions, consumer confidence, and tourism recovery post-pandemic.
Future trends to watch include technological advancements in the travel sector, evolving customer preferences for personalized experiences, economic policies affecting travel, environmental considerations, and broader geopolitical dynamics that may impact travel patterns across European countries.
Top countries in Travel Agency and Tour Operator Gross Value Added by Country
| # | 9 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Netherlands | 5,430 | 2023 | -18.67% | -1.55% | View data |
| 2 | 2 Spain | 3,380 | 2023 | +21.89% | +1.51% | View data |
| 3 | 3 Italy | 2,400 | 2023 | +14.47% | +1.32% | View data |
| 4 | 4 Belgium | 528 | 2023 | +17.2% | +1.22% | View data |
| 5 | 5 Greece | 364.14 | 2023 | -38.61% | -10.55% | View data |
| 6 | 6 Ireland | 328.17 | 2023 | +9.52% | -2.63% | View data |
| 7 | 7 Cyprus | 79.6 | 2023 | +2.05% | +2.34% | View data |
| 8 | 8 Latvia | 58.87 | 2023 | +9.11% | -1% | View data |
| 9 | 9 Estonia | 53.23 | 2023 | -4.4% | -7.44% | View data |
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