The production value of travel intermediary services in Belgium saw fluctuations between 2013 and 2023. Beginning with a decline from 2013 to 2014 and slight increases through 2016, there was a notable dip in 2016. Recovery followed until 2019, but the COVID-19 pandemic caused a substantial drop in 2020, followed by a strong rebound in 2021. The recovery continued gradually through 2022 and 2023, reaching 5.24 Billion Euros in 2023. The 16.27% increase from 2022 to 2023 indicates significant recovery momentum.
- 2022 Year-on-Year Variation: 32.58%
- 2023 Year-on-Year Variation: 16.27%
- Past 5 Years CAGR (up to 2023): -0.67%
- Forecast 5-Year CAGR (2024-2028): -0.13%
Looking forward, the forecast anticipates a stable production value around 5.2 Billion Euros, with a minor decline expected as indicated by the projected CAGR of -0.13% over the next five years. Future trends to watch for include the impact of technological advancements in travel services, changes in travel demand post-pandemic, and potential economic fluctuations within the Eurozone that could affect travel spending.
