The European travel agency market saw notable variability in turnover by country in 2023. The United Kingdom led the market, but with a marginal YoY increase of 0.59%. Spain, Germany, and Italy displayed robust YoY growth rates of 3.28%, 6.3%, and 3.64% respectively. Belgium and France faced declines, with France experiencing a significant drop of 8.01%. Croatia (8.55%) and Serbia (50.7%) were standout performers, demonstrating remarkable growth. Iceland, Luxembourg, and Lithuania saw declines, while Eastern European markets like Macedonia and Bosnia and Herzegovina showed promising increases of 4.79% and 6.93% respectively.
Future trends to watch in the European travel agency market include the recovery and growth potential in Eastern European countries, continued technological advancements impacting travel bookings, and a strong push towards sustainable and eco-friendly travel options. The volatility experienced in 2023 highlights the need for resilience and adaptability in strategies for market players.
Top countries in Turnover of Travel Agency by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 37,940 | 2023 | +0.96% | +0.59% | View data |
| 2 | 2 Spain | 23,990 | 2023 | +21.67% | +3.28% | View data |
| 3 | 3 Germany | 13,280 | 2023 | +21.72% | +6.3% | View data |
| 4 | 4 Italy | 5,040 | 2023 | +21.87% | +3.64% | View data |
| 5 | 5 Austria | 3,990 | 2023 | +15.66% | +0.93% | View data |
| 6 | 6 Portugal | 2,830 | 2023 | +21.75% | +3.95% | View data |
| 7 | 7 Belgium | 2,790 | 2023 | +14.83% | -2.48% | View data |
| 8 | 8 Norway | 2,670 | 2023 | +17.01% | +1.36% | View data |
| 9 | 9 France | 2,060 | 2023 | +0.19% | -8.01% | View data |
| 10 | 10 Greece | 1,800 | 2023 | +19.65% | +0.92% | View data |
