The turnover of travel agency and tour operator services in Austria exhibited a fluctuating trend from 2013 to 2023. Actual data reveals that the turnover peaked in 2014 at 4.77 billion Euros and experienced a significant decline in 2016 to 4.33 billion Euros. By 2020, the turnover plunged to 1.6 billion Euros due to the pandemic, followed by a recovery to 3.02 billion Euros in 2021 and 3.91 billion Euros in 2022. By 2023, it stood at 4.52 billion Euros, showing a promising recovery with a year-on-year increase of 15.73%.
Key variations over recent years include a dramatic drop of -63.5% in 2020, a significant recovery of 89.02% in 2021, and continued growth through 2023. The average variation per year (CAGR) over the last five years stands at -0.047%.
Looking forward, from 2024 to 2028, the forecast suggests modest growth with a five-year CAGR of 0.77% and an overall growth rate of 3.9% over this period, indicating a gradual yet steady recovery.
Future trends to watch include:
- Impact of technological advancements on travel booking and personalized experiences.
- Potential influences of economic fluctuations and new health regulations on travel demand.
- Sustainability trends affecting travel preferences and operators' strategies.
