The wages and salaries in the UK travel agency sector exhibited a volatile trend from 2013 to 2023, with notable increases in 2014 and 2016 (8.06% and 10.29%, respectively), and a significant dip in 2017 (-30.63%). The more recent years show a consistent decline with the forecast indicating a gradual decrease from 1.94 billion euros in 2023 to 1.9 billion euros by 2028. The compound annual growth rate (CAGR) over the last five years stood at -0.68%, and the forecasted 5-year CAGR is -0.29%.
Future Trends to Watch
Future trends to monitor include the impact of technological advancements, economic recovery post-pandemic, and changes in consumer travel behavior. These factors will significantly influence wage trends in the travel agency sector in the coming years.