The number of employees in the Travel Agency and Tour Operator sector in Belgium has shown a consistent decline from 2013 to 2023. In 2013, the sector employed 7.8 thousand persons, but this number has steadily decreased to 5.3 thousand persons by 2023. Year-on-year, the sector has faced varying declines, notably more substantial in recent years with -11.27% in 2020 and -12.7% in 2021, primarily due to the COVID-19 pandemic. The compounded annual growth rate (CAGR) over the past 5 years reflects an average decline of -5.94% annually.
Looking ahead, the forecast predicts a continued decrease in employment within the sector, with a projected number of 4.7 thousand employees by 2028. The forecasted CAGR for the next five years is -1.62%, resulting in an overall reduction of 7.84% over the same period.
Future trends to watch for include potential recovery from the COVID-19 impact, technological advancements disrupting traditional travel agencies, and shifts towards more digital and personalized travel services. Monitoring economic factors and consumer confidence will also be crucial in understanding future employment trends in the sector.
