• Today's news
  • Reviews and deals
  • Climate change
  • 2024 election
  • Fall allergies
  • Health news
  • Mental health
  • Sexual health
  • Family health
  • So mini ways
  • Unapologetically
  • Buying guides

Entertainment

  • How to Watch
  • My Portfolio
  • Latest News
  • Stock Market
  • Premium News
  • Biden Economy
  • EV Deep Dive
  • Stocks: Most Actives
  • Stocks: Gainers
  • Stocks: Losers
  • Trending Tickers
  • World Indices
  • US Treasury Bonds
  • Top Mutual Funds
  • Highest Open Interest
  • Highest Implied Volatility
  • Stock Comparison
  • Advanced Charts
  • Currency Converter
  • Basic Materials
  • Communication Services
  • Consumer Cyclical
  • Consumer Defensive
  • Financial Services
  • Industrials
  • Real Estate
  • Mutual Funds
  • Credit cards
  • Balance Transfer Cards
  • Cash-back Cards
  • Rewards Cards
  • Travel Cards
  • Personal Loans
  • Student Loans
  • Car Insurance
  • Morning Brief
  • Market Domination
  • Market Domination Overtime
  • Asking for a Trend
  • Opening Bid
  • Stocks in Translation
  • Lead This Way
  • Good Buy or Goodbye?
  • Fantasy football
  • Pro Pick 'Em
  • College Pick 'Em
  • Fantasy baseball
  • Fantasy hockey
  • Fantasy basketball
  • Download the app
  • Daily fantasy
  • Scores and schedules
  • GameChannel
  • World Baseball Classic
  • Premier League
  • CONCACAF League
  • Champions League
  • Motorsports
  • Horse racing
  • Newsletters

New on Yahoo

  • Privacy Dashboard

Yahoo Finance

20 largest travel companies in the world.

In this article, we will be covering the 20 largest travel companies in the world. If you want to skip our detailed analysis of the travel and tourism industry, you can go directly to 5 Largest Travel Companies In The World .

The travel and tourism sector plays a vital role in global economies. It creates jobs, fosters cultural exchange, and supports local businesses. It promotes understanding between nations while also contributing significantly to GDP growth. According to the World Travel & Tourism Council (WTTC), travel and tourism accounted for 7.6% of global GDP in 2022 while also creating 22 million new jobs around the world.

An Analysis of the Global Travel and Tourism Industry

The travel and tourism sector plays a crucial role in addressing societal and economic challenges. The industry is now thriving after being severely impacted during the peak of the COVID-19 crisis, which led to travel restrictions, cancellations, and a sharp decline in tourism activities. According to a report by Market Research Future, the global travel and tourism market reached a value of $648.03 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2032 and reach a value of more than $1.01 trillion by the end of the forecasted period. The North American region leads the global travel and tourism market, while Europe follows as the second-largest market. The Asia-Pacific region is anticipated to exhibit the fastest growth in the industry during the forecasted period.

The travel and tourism market is undergoing a digital transformation with online booking platforms, travel agencies, mobile apps, and online travel-related services driving growth by enhancing connectivity and providing convenient and personalized traveler experiences. The trend of cultural and experiential tourism, with travelers seeking authentic, immersive experiences, unique destinations, and local experiences, is also a key factor driving market growth. Moreover, the rise in disposable incomes, especially in emerging markets, is leading to increased tourism. More people have the means to explore domestic and international destinations. According to the World Travel & Tourism Council (WTTC), domestic visitor spending saw an increase of 20.4% in 2022. On the other hand, international visitor spending went up by 81.9% in 2022.

What are Some of the Biggest Companies in the Travel and Tourism Industry Up To?

Prominent companies in the travel and tourism industry are actively pursuing various strategies to expand their global presence and increase their profitability. Some of the most notable names are Marriott International Inc. (NYSE: MAR ), Hilton Worldwide Holdings Inc. (NYSE: HLT ), and Booking Holdings Inc. (NASDAQ: BKNG ).

Booking Holdings Inc. (NASDAQ:BKNG) is one of the world’s largest providers of online travel and related services. It provides online travel services in more than 220 countries through its brands which include Booking.com, Priceline, Agoda, KAYAK, and OpenTable. Booking Holdings Inc. (NASDAQ:BKNG) is also one of the best travel stocks to buy . On February 22, Booking Holdings Inc. (NASDAQ:BKNG) reported strong earnings for the fiscal fourth quarter of 2023. The company reported earnings per share (EPS) of $32, surpassing EPS estimates by $1.95. The company’s revenue for the quarter grew by 18.15% year-over-year and amounted to $4.78 billion, ahead of market consensus by $73.37 million. Here are some comments from Booking Holdings Inc.’s (NASDAQ:BKNG) Q4 2023 earnings call:

“As we look to the year ahead, we see strong growth on the books for travel that’s scheduled to take place in 2024, which gives early indications of potentially another record summer travel season. As we’ve noted previously, a high percentage of these bookings are capable and what is on the books today for the summer period represents a small percentage of the total bookings that we expect to ultimately receive. David will provide further details on fourth quarter results and on our thoughts about the first quarter and full year 2024. Looking back at the full year of 2023, I am proud of our efforts to drive more benefits to our travelers and supply partners while also delivering record-setting industry-leading financial results. We reached a significant milestone last year with our customers’ booking an all-time high of over 1 billion room nights on our platform, which was an increase of 17% versus 2022.”

As the demand for travel and tourism continues to grow, companies operating in this space are launching new products, engaging in mergers and acquisitions, increasing investments, and forming contracts and collaborations. Marriott International Inc. (NYSE:MAR) is an American multinational hospitality company. It operates and franchises hotels and licenses vacation ownership resorts in more than 130 countries around the world. On March 7, Marriott International Inc. (NYSE:MAR) announced that it has entered into an agreement with Victoria Park Hotels Ltd. to launch The Park Lane Hong Kong, Autograph Collection. This new addition is set to become part of Autograph Collection Hotels by early 2025. Autograph Collection Hotels’ portfolio includes more than 300 independent properties in some of the most desirable locations around the world. Situated within a 28-story mixed-use complex featuring retail spaces on the lower floors, the new hotel is projected to have 820 guest rooms, an executive lounge, 3 unique dining venues, extensive event spaces spanning over 1,700 square meters, and various recreational facilities. Some of the guest rooms will boast stunning views of Victoria Harbour, while others will overlook the city or Victoria Park in Hong Kong.

On February 7, Hilton Worldwide Holdings Inc. (NYSE:HLT) announced an exclusive strategic partnership with Small Luxury Hotels of the World (SLH) that will introduce guests of Hilton Worldwide Holdings Inc. (NYSE:HLT) to a wide range of hotels in some of the most popular destinations around the world. This collaboration will significantly enhance Hilton Worldwide Holdings Inc.’s (NYSE:HLT) luxury offerings as unique SLH properties become part of the esteemed Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, and LXR Hotels & Resorts brands.

Now that we have discussed what’s going on in the global travel and tourism industry, let’s take a look at the 20 largest travel companies in the world.

A line of travellers queuing for a commercial flight, emphasizing the airport management operations.

Methodology

In this article, we have listed the 20 largest travel companies in the world. To find the top travel companies in the world, we sifted through various sources including industry reports, our own rankings in addition to rankings available on various websites, and consulted stock screeners from Yahoo Finance and Finviz. For companies that are publicly traded, we decided to rank them according to their market capitalization as of March 9. We used fiscal year revenues to rank the companies that are not publicly traded. For foreign companies, we converted the market caps and revenues to US dollars according to their respective exchange rates, as of March 9. Finally, we narrowed down our selection to rank the 20 largest travel companies in the world based on their market capitalization and revenues, which are listed below in ascending order.

20. Host Hotels & Resorts Inc. ( NYSE: HST )

Market Capitalization: $14.9 Billion

Host Hotels & Resorts Inc. (NYSE:HST) is a major American lodging real estate investment trust (REIT) that invests in hotels. It owns a diverse portfolio of luxury and upper-upscale hotels. Host Hotels & Resorts Inc. (NYSE:HST) has a market capitalization of $14.9 billion as of March 9, 2024.

19. Hyatt Hotels Corporation ( NYSE: H )

Market Capitalization: $16.12 Billion

Hyatt Hotels Corporation (NYSE:H) is an American multinational hospitality company. As one of the world’s top hospitality companies, it manages and franchises luxury and business hotels, resorts, and vacation properties in more than 70 countries across 6 continents. As of March 9, 2024, Hyatt Hotels Corporation (NYSE:H) has a market capitalization of $16.12 billion.

18. InterContinental Hotels Group PLC ( NYSE: IHG )

Market Capitalization: $17.4 Billion

InterContinental Hotels Group PLC (NYSE:IHG) is a British multinational hospitality company. With more than 6,000 hotels in over 100 countries, it is one of the world’s leading hotel companies. InterContinental Hotels Group PLC (NYSE:IHG) has a market capitalization of $17.4 billion as of March 9, 2024. It ranks 18th on our list of the 20 biggest travel companies in the world.

17. Expedia Group Inc. ( NASDAQ: EXPE )

Market Capitalization: $18.5 Billion

Expedia Group Inc. (NASDAQ:EXPE) is an American travel technology company. As one of the top travel agencies in the world, it owns and operates various brands including Expedia, Hotels.com, CarRentals.com, Vrbo, Travelocity, Trivago, Orbitz, Ebookers, CheapTickets, and Expedia Cruises. As of March 9, 2024, Expedia Group Inc. (NASDAQ:EXPE) has a market capitalization of $18.5 billion.

16. Southwest Airlines Co. ( NYSE: LUV )

Market Capitalization: $20.44 Billion

Southwest Airlines Co. (NYSE:LUV) is an American airline company. It offers low-cost air travel service with frequent flights of mostly short routes. As one of the biggest travel companies in the world, Southwest Airlines Co. (NYSE:LUV) has a market capitalization of $20.44 billion as of March 9, 2024.

15. Qatar Airways Group

Revenue: $21 Billion

Qatar Airways Group is the flag carrier of Qatar. Owned by the Government of Qatar, it is one of the world’s top airlines and it currently flies to over 170 international destinations. Qatar Airways Group generated an annual revenue of $21 billion in the year 2022-2023. It ranks among the top 15 on our list of the 20 largest travel companies in the world.

14. Carnival Corporation & plc (NYSE: CCL )

Market Capitalization: $21.38 Billion

Carnival Corporation & plc (NYSE:CCL) is a British-American cruise operator. As one of the world's largest leisure travel companies, it owns some of the most well-known cruise line brands in North America, the United Kingdom, Germany, Italy, and Australia. Carnival Corporation & plc (NYSE:CCL) has a market capitalization of $21.38 billion as of March 9, 2024.

13. Galaxy Entertainment Group Limited (SEHK:0027)

Market Capitalization: $21.83 Billion

Galaxy Entertainment Group Limited (SEHK:0027) is one of Asia’s top developers and operators of integrated entertainment and resort facilities. It owns and operates a broad portfolio of integrated resort, retail, dining, hotel, and gaming facilities in Macau. As one of the top travel companies in the world, Galaxy Entertainment Group Limited (SEHK:0027) has a market capitalization of $21.83 billion as of March 9, 2024.

12. Delta Air Lines Inc. ( NYSE: DAL )

Market Capitalization: $27.17 Billion

Delta Air Lines Inc. (NYSE:DAL) is one of America’s major airlines. It is also one of the world’s largest airlines by number of passengers carried. As one of the top travel companies in the world, Delta Air Lines Inc. (NYSE:DAL) has a market capitalization of $27.17 billion as of March 9, 2024.

11. Amadeus IT Group S.A. (BME:AMS)

Market Capitalization: $27.31 Billion

Amadeus IT Group S.A. (BME:AMS) is a Spanish multinational technology company that develops technology and software for airlines, travel agencies, hotels, payment providers, and other travel-related businesses to enhance their operations and customer experiences. With a presence in more than 190 countries, the company provides software solutions for the global travel and tourism industry. As of March 9, 2024, Amadeus IT Group S.A. (BME:AMS) has a market capitalization of $27.31 billion.

10. Trip.com Group Limited ( NASDAQ: TCOM )

Market Capitalization: $28.27 Billion

Trip.com Group Limited (NASDAQ:TCOM) is a multinational travel service company that ranks among the top 10 on our list of the largest travel companies in the world. It owns and operates several travel agencies and travel fare aggregators including Ctrip, Qunar, Trip.com and Skyscanner. As of March 9, 2024, Trip.com Group Limited (NASDAQ:TCOM) has a market capitalization of $28.27 billion.

9. Ryanair Holdings plc ( NASDAQ: RYAAY )

Market Capitalization: $32.3 Billion

Ryanair Holdings plc (NASDAQ:RYAAY) is an Irish airline company. As one of Europe's largest airline groups, it is the parent company of Ryanair, Ryanair UK, Buzz, Lauda, and Malta Air. With a market capitalization of $32.3 billion as of March 9, 2024, Ryanair Holdings plc (NASDAQ:RYAAY) ranks 9th on our list of the 20 largest travel companies in the world.

8. Emirates Group

Revenue: $32.6 Billion

Emirates Group is Dubai’s state-owned international aviation holding company. It owns Dubai National Air Travel Agency (dnata), an airport and ground services company, and Emirates Airline, one of the largest airlines in the Middle East. Emirates Group generated an annual revenue of $32.6 billion in the year 2022-2023.

7. Royal Caribbean Cruises Ltd. ( NYSE: RCL )

Market Capitalization: $32.71 Billion

Royal Caribbean Cruises Ltd. (NYSE:RCL) is a global cruise holding company that owns and operates cruise brands including Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. As one of the world’s largest cruise line operators, Royal Caribbean Cruises Ltd. (NYSE:RCL) has a global fleet of 65 ships traveling to around 1,000 destinations around the world. The company has a market capitalization of $32.71 billion as of March 9, 2024.

6. Las Vegas Sands Corp. ( NYSE: LVS )

Market Capitalization: $38.81 Billion

Las Vegas Sands Corp. (NYSE:LVS) is an American casino and resort company that owns and operates integrated resorts in Macao and Singapore. As a driver of valuable leisure and business tourism, it is one of the world’s largest hotel and casino companies. With a market capitalization of $38.81 billion as of March 9, 2024, Las Vegas Sands Corp. (NYSE:LVS) ranks 6th on our list of the 20 largest travel companies in the world.

Click to continue reading and see 5 Largest Travel Companies In The World .

Suggested Articles:

40 Most Polluted Cities in the World in 2024

20 Countries with the Strongest Paramilitary Forces in the World

15 Sunniest Cities in Europe

Disclosure: None. 20 Largest Travel Companies In The World is published on Insider Monkey.

Bizvibe Blog

Global B2B Marketplace for Supplier Selection, Vendor Selection

Top 10 Travel Companies in the World by Sales in 2020, Travel Industry Factsheet

top 10 travel companies in the world

The Current State of the Travel Industry

As economic prosperity rises all over the world, the top 10 travel companies in the world are contributing to stellar growth and driving critical innovation by leveraging technology in a modern travel industry.

How big is the travel industry?  As the economy for travel and tourism becomes more lucrative for a global audience, the travel industry grows as well. The global travel industry has grown from USD 6.03 trillion in 2006 to USD 8.27 trillion by 2017, growing at a CAGR of 2.9% — making the travel and tourism industry one of the world’s largest industries in the world in terms of global economic contribution (direct, indirect and induced).

  • Discover who are the top 10 travel companies in the world by sales in 2020?
  • A complete ranking and breakdown of 20 of the top travel companies in the global travel industry right now.
  • Travel and tourism industry trends and stats you should know.

BizVibe is already helping the top travel companies in the world connect. Connect and track the latest news and insights from these companies.

Try BizVibe Free

Travel Industry Trends and Stats

  • Convenient booking remains the biggest trend in the global travel industry.
  • Solo Travel: Leisure travel is no longer just a family affair.
  • The travel and tourism industry generated 10.4 percent of all global economic activity last year.
  • The travel industry is the second-fastest-growing sector in the world, ahead of healthcare (+3.1%), information technology (+1.7%) and financial services (+1.7%), and behind only manufacturing.
  • Last year, travel and tourism increased its share of leisure spending to 78.5 percent.
  • Three in five travel companies say they offer customer service via chat.

Top 10 Travel Companies in the World by Sales in 2020

Who are the top 10 travel companies in the world by sales as of 2020? The following is a list of largest adventure travel companies and top travel agencies ranked by sales generated in USD billion.

Top Travel Companies in the World

1.    Expedia Group

What is the best travel agency? That’s a hard and subjective question to answer, but if you were to go by the best travel agency in the world in terms of sales, then your answer is Expedia Group. Expedia Group is an American online travel shopping company for consumer and small business travel. The company is mainly known for its travel fare aggregator websites where you can drop in and book all your travel needs from flights, car rentals, and even hotels. Expedia is also a metasearch engine to search up and plan your entire travel plans.

Expedia is a travel technology company that brought in sales of USD 99 billion last — making it the leaders in sales among the top 10 travel companies in the world on this list. In addition to the main expedia.com website, the company runs multiple websites from the best travel companies including Travelocity and trivago.

  • Founded: 1996
  • Expedia Group Headquarters: Bellevue, Washington, USA
  • Expedia Group Sales: USD 99 billion
  • Expedia Group Number of Employees: 24,000

Expedia Group Products and Services

  • Classic Vacations
  • Expedia CruiseShipCenters
  • Expedia Local Expert
  • Expedia Partner Solutions
  • Hotwire Group
  • Travelocity

2.    Booking Holdings

Number 2 on this list of the top 10 travel companies in the world is the American company Booking Holdings Inc. The company is known for operating travel fare aggregator websites and travel and tourism search engines such as its flagship booking.com, as well as Priceline.com, Agoda.com, Kayak.com, Cheapflights, Rentalcars.com, Momondo, and OpenTable. Booking Holdings generated sales of USD 92.7 billion last year, with nearly 90% of its profits coming from booking.com and outside the USA. Book Holdings is truly a global travel company that is expected to continue generating stellar sales within the global market.

  • Booking Holdings Headquarters: Norwalk, Connecticut, USA
  • Booking Holdings Sales: USD 92.7 billion
  • Booking Holdings Number of Employees: 24,500

Booking Holdings Products and Services

               .

  • Cheapflights

3.    American Express Global Business Travel

American Express Global Business Travel (GBT) is 3 rd on this list of the top 10 travel companies in the world. GBT is a corporate management travel company operating under a 50% ownership stake from American Express. GBT is known as a business travel management company, major corporations use GBT’s services to manage corporate travel and meetings programs, providing services and support to business travelers.

Last year, GBT brought in sales of USD 33.7 billion — making it one of the top travel companies going by sales figures.

  • Founded: 2016
  • American Express Global Business Travel Headquarters: Jersey City, New Jersey, USA
  • American Express Global Business Travel Sales: USD 33.7 billion
  • American Express Global Business Travel Number of Employees: 17,400

4.    BCD Travel

BCD Travel ranks 4 th on BizVibe’s list of the best travel companies by sales figures in 2020. BCD Travel is a provider of global corporate travel management and the largest travel company in the Netherlands. Currently, the company operates in over 109 countries and last year generated USD 27.1 billion in sales. BCD Travel’s parent company is BCD Group, a privately held Dutch company focused on travel services and corporate travel management.

  • Founded: 2006
  • BCD Travel Headquarters: Utrecht, Netherlands
  • BCD Travel Sales: USD 27.1 billion
  • BCD Travel Number of Employees: 13,800

BCD Travel Products and Services

  • Travel management
  • Travel consulting, meetings and events

5.    CWT

Formerly known as Carlson Wagonlit Travel, CWT ranks 5 th on this list of the top 10 travel companies in the world by sales in 2020. CWT is a travel management company that manages business travel, meetings, incentives, conferencing, exhibitions, and handles event management. The company is known for running a top tier B2B travel management platform, offering business travel, technology, and meetings and events management across 145 countries.

Last year, CWT generated sales of USD 25 billion — making it one of the top travel companies in the world in terms of transactional sales.

  • Founded: 1994
  • CWT Headquarters: Minneapolis, Minnesota, USA
  • CWT Sales: USD 25 billion
  • CWT Number of Employees: 18,000

6.    Flight Centre Travel Group

6 th on BizVibe’s list of the top 10 travel companies in the world is Flight Centre, the largest retail travel agency in Australia.  Flight Centre is headquartered in Brisbane and was founded in 1982. Flight Centre operates over 2,800 stores and offices under various retail and corporate brands in n Australia, New Zealand, United States, Canada, United Kingdom, South Africa, Hong Kong, India, China, Singapore, United Arab Emirates, and Mexico.

Last year, Flight Centre generated USD 16 billion making it one of the top travel agencies in the world by sales numbers. 50% of the company’s sales come from leisure and 50% from business.

  • Founded: 1982
  • Flight Centre Headquarters: Brisbane, Queensland, Australia
  • Flight Centre Sales: USD 16 billion
  • Flight Centre Number of Employees: 20,600

7.    Travel Leaders Group

Ranking 7 th on BizVibe’s list of the top 10 travel companies in the world is the Travel Leaders Group, a multi-unit travel industry company headquartered in New York City that has more than 7,000 company-owned, franchised and affiliated travel agency locations in the United States, Canada, the United Kingdom, and Mexico. The company has more than 52,000 travel agents worldwide and last year generated sales of USD 7.12 billion — making it one of the best travel agencies around. USD 3.73 billion in sales come from 52,000 hosted agents.

  • Travel Leaders Group Headquarters: New York City, New York, USA
  • Travel Leaders Group Sales: USD 12 billion
  • Travel Leaders Group Number of Employees: 4,000

8.    American Express Travel

American Express Travel is a full-service global travel and lifestyle network and 8 th on this list of the top 10 travel companies in the world by sales. Last year the company generated sales of USD 6.27 billion. In March 2014, American Express announced that it signed an agreement to create a joint venture for business travel and spun off its corporate travel business like American Express Global Business Travel

  • Founded: 1915
  • American Express Travel Headquarters: New York City, New York, USA
  • American Express Travel Sales: USD 6.27 billion
  • American Express Travel Number of Employees: 5,000

9.    Direct Travel

Direct Travel is a leading travel management company, DT creates personalized solutions through an agile approach to corporate travel, meetings & events, and leisure. The company ranks 9 th on BizVibe’s list of the top 10 travel companies in the world due to its stellar sales figures — generating USD 5.4 billion in transactional sales last year.

DT sells directly to consumers for corporate travel, meetings and incentives, group travel, and leisure vacations., with 87% of its sales coming from its business segment; 8% from leisure, and 5% from all other avenues.

  • Founded: 1980
  • Direct Travel Headquarters: Centennial, Colorado, USA
  • Direct Travel Sales: USD 5.4 billion
  • Direct Travel Number of Employees: 2,000

10.  Corporate Travel Management

Rounding out BizVibe’s list of the top 10 travel companies in the world in 2020 is Corporate Travel Management, a global provider of innovative and cost-effective travel solutions spanning corporate, events, leisure, loyalty, and wholesale travel. CTM provides local service solutions to customers around the world, through a blend of CTM owned and operated offices and a network of independent partner agencies. Last year, CTM generated USD 5 billion in sales — making it one of the top travel companies in the world by sales numbers.

  • Corporate Travel Management Headquarters: Denver, Colorado, USA
  • Corporate Travel Management Sales: USD 5 billion
  • Corporate Travel Management Number of Employees: 725

This is BizVibe’s list of the top 10 travel companies in the world in 2020 by sales. These companies are changing the way businesses are pushing the boundaries in the global travel industry and are leveraging technology to push travel agencies and corporate travel management to new heights.

Reach out to the top travel companies on BizVibe today.

Top Travel Companies by Sales in 2020

The following is BizVibe’s complete ranking of the top travel companies in the world by sales figures in 2020.  This list of travel companies are paving the way for success in the travel industry, connect with them on the BizVibe platform to track the latest news and insights from these companies.

The Future of the Global Travel Industry

What’s the future of the global travel industry? As economic prosperity rises throughout the world, the travel industry will be flooded by people from all over the world, and businesses are going to be at the forefront of this growth pushing their services to meet demand. Expect the top 10 travel companies in the world to continues pushing the industry to new heights. The main thing to keep in mind going forward as more people travel from all over the world is that the future will be about more travelers and easier to reach places

Connect on BizVibe

Related Articles

  • Top 10 Largest Pharmaceutical Companies in the World by Revenue 2020
  • Top 10 Largest Insurance Companies in the World by Asset Size in 2020

Related Posts

travel industry companies

Top BPO Companies in the Philippines

Top BPO Companies in the Philippines: 2018 Insights   The top BPO companies in the Philippines comprise a booming outsourcing…

travel industry companies

Tea Industry in China: Remains Largest in the World (2017)

The tea industry in China remains the largest in the world and China has been dominating in the global tea…

largest sporting goods stores

Top 10 Largest Sporting Goods Stores in the World 2020, Top Sporting Goods Stores | Sporting Goods Industry

A complete ranking of the top 10 largest sporting goods stores in the world in 2020. Nike, Dick’s Sporting Goods, see where the top sporting goods stores rank in 2020.

Manage Settings

Get 50+ Insights for 45K Travel Companies | Risk Reports | Financials | Top Competitors | Regional Trends Try for Free>>

Top Travel Companies (677)

Don't see your company?

FareHarbor

At FareHarbor, our mission is to make experiences better for everyone. Founded in 2013 in Hawaii and acquired by Booking Holdings in 2018, FareHarbor creates powerful tools that enable our clients (think boat rentals, museums, food tours, events and more!) to operate and grow. With over 20,000 clients across 90+ countries—we’re the largest in our industry and shaping the future of travel, together. Our team is an ‘Ohana of 700+ people around the world. We’re passionate about pioneering an industry, embracing challenges with open arms, and delivering value to the experiences industry.

Lighthouse (formerly OTA Insight)

Lighthouse (formerly OTA Insight)

From the beginning, Lighthouse has pushed the boundaries of what is possible to achieve and deliver with data. Our three founders launched Lighthouse in 2012 with a mission to help the hospitality industry visualize and leverage its data. What started as unique idea that originated during a trip to the London Olympics amongst friends has quickly grown into a global business. Today, our entrepreneurial and innovative team processes billions of data points a day for our customer-base of 55,000 top-tier hospitality clients, including Accor, Best Western, and Wyndham across over 184 countries. Lighthouse is a cloud-based data intelligence platform for the hospitality industry that provides hoteliers with a suite of revenue management solutions and empowers them to make smarter revenue and distribution decisions. While our company headquarters is in London, we also host six total offices around the globe- from Singapore to Denver to Dallas to Ghent to Sao Paolo. Our Denver office serves as the axis for our US operations and commercial functionalities as we push to capture more and more of the US market. Despite the large geographic distances between many of our employees and teams, we maintain strong personal relationships between employees and foster an international and diverse culture across borders and boundaries. We hope to continue our expansion in the coming years by providing excellent services to hoteliers everywhere, and we are positioned to achieve exponential growth in the years to come.

Hotel Engine

Hotel Engine

Hotel Engine is a Denver-based, high-growth travel tech company that focuses on one goal — making business lodging simpler. We’re on a mission to become the global leading platform for business lodging, by providing a savings-driven and easy-to-use platform. And with more than 200 employees serving 35K+ businesses, we are well on our way to achieving that goal.

Navan

Navan is the all-in-one super app that makes travel and expense easy so you can focus on being there, not getting there. Say goodbye to spending hours on the phone trying to change your flight or saving stacks of receipts to manually input expenses. From EAs and finance teams to travel managers and employees, Navan empowers people to focus on the things that matter most to them — all while providing companies with real-time visibility, savings, and control. Navan’s investors include visionaries like Andreessen Horowitz, Lightspeed Ventures, Greenoaks, Zeev Ventures, and entrepreneurs Lee Fixel, Adam Bain, and Elad Gil. In Oct 2022, Navan announced its Series G upround at a post-money valuation of $9.2B to help accelerate future growth plans. In April 2023, Navan expanded in the Indian market with the acquisition of Tripeur, a modern, people-centric corporate travel and expense management company. The group’s fifth acquisition in under two years, Tripeur joined the Navan Group alongside Spanish meetings and events specialists, Atlanta Events & Corporate Travel Consultants; Berlin-based modern travel management company, Comtravo; leading Scandinavian travel agency Resia AB; and London-based high-touch TMC, Reed & Mackay.

Going

Supporting over 2 million members, we send you affordable international & domestic US flight deals daily, so you can invite the unexpected and never overpay on flights again. Unlike automated flight alerts and “deals” sent out by way of affiliate links, we leverage innovative software and our team of human flight experts to send out rigorously-vetted, high-quality deals that are worth our members’ time and money. We’re so much more than crusaders for cheap flights, and our numbers prove it. - 2 million: Members to date, growing every day - 100%: Our average year-over-year revenue growth set to continue on this trend - $100 million: Total airfare our deals have helped members save. - $31,000: The largest member savings in one purchase occurred when our members bought 5 plane tickets to Bali when we sent out a mistake business class fare. - 263,009: Miles, our most prolific member, has traveled with the 20 Going deals she has purchased. - 30+: Number of proposals have happened on SCF trips… that we know of. - Countless: Memories and stories created through our members’ trips. We’re making travel dreams more attainable for everyone, one deal at a time. We're a 100% remote team with members all over the world. If “to travel is to live” resonates with you and your background seems like it could be a fit for one of our positions, we’d love to hear from you!

Sojern

Sojern is built on more than a decade of expertise analyzing the complete traveler path to purchase. We drive travelers from dream to destination by activating multi-channel branding and performance solutions on the Sojern Traveler Platform for more than 10,000 travel companies around the globe.

Rocket Travel

Rocket Travel

Rocket Travel by Agoda is Agoda's strategic partnerships arm, working with the world’s largest companies to create branded experiences from the first search to check-out from their stay. Our global partnerships range from world-class airlines to international banks, as well large-scale shopping platforms, SuperApps, and the largest travel players in the world. Our customers can earn and redeem miles, points, and gift cards, or save big with exclusive discounts, for booking travel accommodations around the world, from global favorite brands to boutique bed and breakfasts. We also help our partners curate vacation excursion planning and car rental services, with a completely branded experience from the first search to check-out from their stay. We attract customers from every corner of the globe with a user experience that's built in-house from ideation to finished product. We have offices in Chicago, NYC, Bangkok, Medellín, Kuala Lumpur, Manila, and Cebu, as well as colleagues working remotely across four continents.

TravelPerk

We are TravelPerk: a scaling unicorn valued at $1.4 billion that has raised over $400m since our creation in 2015. Backed by world-class investors with portfolios including Airbnb, Stripe, Slack, Trello, Gusto, Twitter, Farfetch and Deliveroo, our team comprises of A-players from the travel and technology industries. We’ve been named the fastest-growing SaaS startup in the world by SaaS1000 and featured as one of the hottest startups to watch by both Forbes and Wired. We’re revolutionizing the B2B corporate travel market—worth over $1.3 trillion— to connect people in real life in an enjoyable and sustainable way. TravelPerk is innovative. In recent years, we have welcomed and acquired the likes of Click Travel, NexTravel and Albatross to the team. From TravelCare, to FlexiPerk and GreenPerk, we are shaping the industry's future and embodying our company values while we do it--create a 7 star experience, impact over effort, be a good person, we are a team, we are all owners.

Spotnana

Spotnana is the travel platform that connects humanity. We are modernizing the infrastructure of the travel industry in order to bring freedom, simplicity, and trust to travelers everywhere. Our groundbreaking Travel-as-a-Service platform revolutionizes travel for corporations and consumers, modernizes how travel suppliers sell their inventory, and enables any company to provide the world’s best global travel experiences to their customers. To learn more, visit spotnana.com.

Upgrade, Inc.

Upgrade, Inc.

At Upgrade, we like to tackle big problems and create innovative products that make a meaningful difference in people's lives. We don't have all the answers but we always help each other, look for ways to improve, move fast, and act as owners to make credit more affordable for millions of families across America.

Woven

Woven is a stealth startup backed by four top venture firms that is reimagining the way consumers travel. The company is building an AI-native Travel App that simplifies the process of discovering, planning, and booking trips, all in one app. It’s like having a personal travel agent, but better, as it’s affordable, available 24/7, responds within seconds, and is armed with local insights, captivating photos, maps, itineraries, pricing, and availability. The explosion of travel booking sites is sucking the fun out of getting away with their maze of disjointed self-serve transactions that leave travelers needing to visit dozens of websites to plan a trip. By pioneering breakthroughs in Agent Architectures and leveraging the latest advancements in Large Language Models (LLMs), Woven is poised to revolutionize the travel industry by helping consumers craft exquisite, personalized travel experiences. Led by a 3X AI founder who’s raised over $100M and a 4X COO who’s raised over $500M, the company is backed by former executives from Pinterest, Twitter, and Stitch Fix along with AI-focused venture funds, including SignalFire.

AirDNA

AirDNA began with a big dream in a balmy California garage in 2015. Since then, the technology startup has grown into the leading provider of data and business intelligence for the billion-dollar travel and vacation rental industry—with offices in Denver and Barcelona. Our self-serve platform eliminates guesswork and equips Airbnb hosts with smart and competitive insights needed to succeed in the ever-evolving short-term rental landscape. We also arm enterprise clients with customized reports and in-depth dashboards to ensure they can scale and invest strategically. These customers include hundreds of top financial institutions, real estate companies, vacation rental managers, and destination marketing organizations around the world. We track the daily performance of over 10 million Airbnb and Vrbo properties across 120,000 global markets. We also collect data from over a million partner properties. This marriage of scraped and source data, enhanced by our proprietary algorithms, makes our solutions the most accurate and comprehensive in the world. We’re firm believers that data isn’t the destination; it’s the starting point. The launchpad. The bedrock for any future-forward business.

Outdoorsy

We’re a thriving, global online marketplace making the beauty of the outdoors accessible to everyone by mobilizing the over 50 million recreational vehicles that sit idly around the world and connecting them with people craving memorable travel experiences. We help everyone go forth safely in the outdoors by providing insurance through Roamly, the best RV insurance out there.

Boom Supersonic

Boom Supersonic

Boom Supersonic is the Denver-based startup bringing supersonic flight back to the skies with Overture. As the world’s fastest airliner, Overture is designed and committed to industry-leading standards of speed, safety and sustainability. Flights twice as fast as today’s commercial airplanes, means we can go twice as far.

American Express Global Business Travel

American Express Global Business Travel

American Express Global Business (Amex GBT) is the world’s leading B2B travel platform, providing software and services to manage travel, expenses, meetings & events for companies of all sizes. Our solutions include: Egencia: the leading software as service travel platform for small and medium-sized enterprises (SMEs). Ovation: the solution synonymous with high-touch travel service. The Neo Technology Group: a technology-focused team that builds cloud-based travel solutions. Meetings & Events: providing solutions for a single meeting or an entire meetings portfolio. Global Business Consulting: customized services to help clients optimize their travel program.

BLADE

Blade is a rapidly growing global air mobility platform utilizing a technology-powered, asset light model with unrivaled brand recognition. Blade recently became publicly listed (BLDE) and is focused on efforts to assist the aviation industry in order to accelerate its transition from conventional aircraft to quieter, cleaner Electric Vertical Aircraft (“EVA”), expand new air mobility routes, grow our network of captive passenger infrastructure, and continue to develop our consumer-to-cockpit technology stack. As one of the largest operators in the world of "organ donor transfer" flights, we see good in what we do at Blade every day. We put the same level of detailed focus and commitment into every flight, whether it's transporting a life-saving organ or commuters traveling for business or leisure.

KAYAK

KAYAK, part of Booking Holdings (NASDAQ: BKNG), is the world's leading travel search engine. With billions of queries across our platforms, we help people find their perfect flight, stay, rental car, cruise, vacation package. We also support business travelers with KAYAK for Business, our free corporate travel solution and are transforming the in-travel experience with our app and new hotel and accommodation software. Want to join a talented team that’s eager to solve the world’s travel problems (and have a bit of fun)? As an employee of KAYAK, you’ll be part of a global network including OpenTable and a portfolio of travel metasearch brands like Swoodoo, checkfelix, momondo, Cheapflights, Mundi and Hotels Combined. So join us, and help others experience the world through dining and travel.

Wanderu

Wanderu is Travel for the Next Generation, providing the simplest way to find and book bus and train travel. We help millions of travelers locate the best travel options at the best price. By working directly with hundreds of ground travel carriers, Wanderu provides service through North America and Europe. Our partners include the largest providers in the world, including Amtrak, Greyhound, Megabus, BoltBus, Peter Pan Bus Lines, Grupo Senda and Trailways of New York, among many others.

Booking.com

Booking.com

A career at Booking.com is all about the journey, helping you explore new challenges in a place where you can be your best self. With plenty of exciting twists, turns and opportunities along the way. We’ve always been pioneers, on a mission to shape the future of travel through cutting edge technology, to make it easier for everyone to enjoy amazing experiences wherever they go. Under a desert sky, or in the heart of a bustling city. Discovering the perfect hideaway, or the perfect paella. When you join us, you’ll be part of a community where taking a different path and trying something new is celebrated and supported. And where making a difference counts. We’re determined to make the world of travel more sustainable, more accessible, and more inclusive, to create a positive impact on a global scale. That’s why we’re always looking for people who search for better solutions, the ones eager to stray off the beaten path to find new ways of doing things. Because at Booking.com it’s more than a job, it’s a journey we’re on together.

Hotelbeds

Hotelbeds are global leaders in the TravelTech space, connecting and empowering businesses by facilitating bridges in the ever-changing and expanding travel ecosystem. Our cloud-based technology platforms offer fast and simple access to a global network of travel products, from accommodation to ancillaries and payments, while rich data and intelligence helps to generate demand. By operating exclusively in the B2B arena, we are uniquely placed to drive growth for our partners without competing for the end customer. Our teams of 3000+ experts on the ground provide local expertise and support to boost trading even further, even in the most hard-to-reach spaces. Our unique blend of technology, data and passionate people serves as a catalyst for B2B travel players aiming to unlock their full potential.

rocks

Work Your Passion. Live Your Purpose.

travel industry companies

Discover new destinations with Travel

The travel industry is no stranger to disruption. And in the post-pandemic world, travel companies must continuously reinvent to outwit unforeseen circumstances, while providing cohesive, elevated experiences for customers.

of consumers plan to travel for leisure in the next 12 months

of travelers find their travel experiences unauthentic

of travel executives interviewed agree that technology plays a critical role in all current and future reinvention strategies

of travel companies state that legacy technology is the main barrier in delivering their reinvention strategy

How to reinvent travel

Offer more in your traveler experience, equip your people with the technology needed to compete in the new era of travel, bring together people and technology to transform your business.

travel industry companies

Define your pathway to sustainability

Build a post pandemic growth strategy that creates revenue streams fit for future growth, cultivate the skills needed to deliver world-class traveler experiences.

Give customers the seamless, end-to-end experience they’re craving, and solve their travel challenges, with automation, data and AI. Improve their retail interactions, customer service and loyalty programs — all while diversifying your revenue streams.

Inspire travelers to go big

Reclaim leisure demand through new sources of inspiration. Grow the corporate traveler segment by thinking holistically about the experience. Proactively capture demand signals and fuel lead generation and booking with an AI-powered growth engine.

Accelerate your business with retailing

Develop a retailing strategy with new offer and order capabilities. Offer differentiated products and seamless booking experience that surpass any third-party proposition.

Meet new traveler needs

Staying close to the travelers’ changing needs and expectations will allow you to anticipate and meet new demands and create relevant experiences and personalized customer service.

Improve your technology foundations

Focusing on new technologies such as cloud, data and AI will transform the way your company interacts with travelers and enable them to deliver a seamless end-to-end experience.

Shift your focus from legacy to transformative technology and deliver change faster

Embark on a transformation journey to modernize the technology landscape, bringing forth agility, innovation and resilience, underpinned by cloud.

Shorten the timeline from concept to launch

Accelerate innovation, from idea to execution, to bring travelers the products and experiences they want, faster than ever.

Break down siloes across your organization

Free your organization from legacy technologies and processes that don’t talk to each other, getting in the way of real-time collaboration and long-term growth.

Collaborate closer with ecosystem partners

The cloud and technology transformation can help you connect with airports, customs, online travel agencies and all your partners — seamlessly, in real time.

Transform your organizational culture

Build a future-focused, customer-centric organization that not only empowers employees with innovation — it becomes more attractive to new talent.

Redirect your budget to fuel business growth

Cloud-based tools and processes cut costs on IT infrastructure, allowing you to focus spending on innovation that drives recovery and business growth.

Deliver on your commitment to sustainability

By migrating to the cloud with a partner committed to sustainability, you can reduce carbon emissions and improve energy efficiency.

Employ cross-organizational data and insights to improve performance, lower costs and make faster decisions.

Lead with data to create an insight-rich organization

With intelligent operations, data is behind the strategies and approaches for complex commercial decisions, and it automates operational decision-making.

Increase your revenue

Optimize your fixed asset base by automating deployment analytics, augmenting revenue management, marketing and corporate sales processes.

Improve your operational efficiency

Identify opportunities for continuous improvement, so your assets and people can deliver exceptional experiences without adding cost or effort.

Build a future-ready culture

Support your people with consistent access to strategic insights — and become an efficient, flexible company that is focused on growth.

You’ll reap tangible benefits by prioritizing responsible practices, as customers, investors, employees and regulators expect companies to reduce their impact on the climate. But that’s not the only reason to act — it’s the right thing to do.

Grow your customer base

When 59% of people say they would switch to a sustainable travel provider, sustainability has clearly become a growth opportunity.

Reduce costs

Save money by implementing sustainable business operations, such as using fewer resources and building smarter supply chains.

Mitigate risks

As regulations become stricter and implemented at a faster pace, companies that put sustainability practices into place now minimize their exposure to risk.

Ensure access to funding

Investors are putting sustainability at the center of their decisions, so companies without clear sustainability plans risk losing access to capital.

Strengthen brand reputation

Positive sustainability actions result in positive brand reputation. Social media on this hot-button issue can build or destroy a company‘s reputation in minutes.

Increase workforce retention

Hiring and retaining employees in the travel industry is a challenge. Employees want to work for companies that protect the planet.

Segments we support

Tap into data-driven insights with industry expertise that drives growth and propels you ahead of the competition.

Discover new operational efficiencies for airlines and airports that streamline the traveler experience.

Boost revenue, improve operations, and optimize customer experience through digital transformation.

What’s trending in travel

travel industry companies

How are powerful technologies reshaping the travel industry? In this blog, we explore Tech Vision’s 4 trends impacting the travel industry, opening new pathways to greater human potential, productivity and creativity.

travel industry companies

Information overload is impacting people’s confidence in their decisions — big or small.   AI tools can help companies deliver hyper-personalized experiences that cut through the noise, deepening loyalty in the process.

travel industry companies

How can Gen AI improve the end-to-end travel experience? In this blog we explore the quick wins and long-term bets to ensure that the industry can start getting the most out of Gen AI across the value chain.

travel industry companies

Accenture explains how the aviation industry can prepare for disruption and achieve operational transformation by leveraging data and AI assets.

travel industry companies

Accenture & American Hotel & Lodging Association launched a survey on sustainability in the hospitality industry examining environmental initiatives.

travel industry companies

Transforming the passenger experience.

travel industry companies

Five imperatives the C-suite must address to reinvent in the age of generative AI.

Our leaders

travel industry companies

Emily Weiss

Senior Managing Director – Global Industry Sector Lead Travel

travel industry companies

Liselotte de Maar

Managing Director – Strategy, Travel, North America

travel industry companies

Sofiane Baffoun

Managing Director – Products, EMEA Travel Industry Lead

travel industry companies

Mike Tansey

Managing Director – Strategy & Consulting, Travel, Growth Markets

Grow your careers at the heart of change

travel industry companies

TUI Sustainability Agenda

Ambitious goals, pioneering initiatives. How we drive the sustainable transformation of TUI and the tourism industry.

travel industry companies

The Mallorcans

Fascinating video series about Mallorca, the nature and the local people.

travel industry companies

LIFE AT TUI

Discover what it’s like to work at TUI from those who do.

travel industry companies

TUI WORKWIDE

As one of the world's leading tourism groups, TUI believes that our work should reflect the fun, excitement and adventure of travel.

travel industry companies

Making travel experiences special

For more than 19 million customers TUI Group offers all services under one roof with leading tour operator brands, 1,200 travel agencies, online portals, airlines and incoming services.

travel industry companies

Take off with TUI

Five TUI-owned touristic airlines with a fleet of over 130 aircraft – including the latest Dreamliner – convey our guests to their holiday destinations.

travel industry companies

Number one leisure hotelier in Europe

TUI Group has more than 400 hotels, resorts and clubs with well-known brands such as RIU and Robinson in more than 35 countries worldwide.

travel industry companies

Riding the waves

Seaborne holidays are provided by our 16 cruise liners, ranging from MS Europa and MS Europa 2 in the luxury class to the Mein Schiff fleet operated by TUI Cruises.

travel industry companies

TUI Care Foundation

The organisation “works global and acts local“. Through strong partnerships with local and international organisations and by

travel industry companies

SPREADING HAPPINESS

Our employees in over 100 countries are dedicated to helping our customers experience the best days in the year and contribute to our brand promise “Live Happy”.

travel industry companies

"In my work I am investigating the different types of mosquitoes: What species are there on the Balearic Islands, what pathogens do they carry, what do they feed on?", explains the entomologist Carlos Barceló.

travel industry companies

Boat moorings and improper anchoring practices damage coral reefs and seagrass beds, contributing to the destruction of important habitats.

travel industry companies

The TUI Group has started the new financial year with a strong operating performance. 3.5 million guests travelled on vacation with TUI in Q1 2024 (October to December 2023), driving a 15 percent increase in Group revenue to 4.3 billion euros (Q1 2023: 3.8 billion euros).

travel industry companies

TUI Group is the new Tours & Activities partner for Ya Vas, the online travel agency of Volaris, one of Mexico’s largest airlines, providing millions of customers with flights to North and Central America.

travel industry companies

TUI Sea the Change Balearics project restores shallow water bays, improves the sustainability of local fisheries and strengthens local marine organisations

travel industry companies

TUI Group organised a Policy Breakfast about these important topics on 16 April 2024 in Brussels. Besides debating the elections and current trends shaping European politics, the event also focused on what can be expected for the new EU mandate.

travel industry companies

Isabel Guarch is a Mallorca-born jewellery designer whose collections are entirely inspired by the island. She decided to take the capital's architecture as a model for her designs.

TUI Newsroom

  • Hotels & Resorts
  • Sustainability
  • Tours & Activities

Investor Relations

The FY24 Q2/H2 Results were published on 15 May 2024.

  • FY24 Q2/H1 Report
  • Presentation (PDF)
  • Q2/H1 Webcast

travel industry companies

The FY24 Q1 Results were published on 13 February 2024.

  • FY24 Q1 Report

Financial Calendar

  • 14 August 2024 FY24 Q3 Results
  • 11 December 2024 FY24 Annual Report

travel industry companies

How we significantly reduce our environmental footprint and maximise positive impacts in holiday destinations.

How to raise a concern.

At TUI, we are committed to respecting the law and acting with integrity. We expect the same from our business partners and suppliers. If you are aware of potential violations of laws and policies related to TUI or caused by a TUI supplier, we strongly encourage you to use our reporting channel . 

We use cookies to provide you with an optimized website experience. They include cookies for the operation and optimization of the website as well as cookies for analyses, retargeting and to provide personalised content on websites by third party providers. By clicking on Accept you are agreeing to the use of non-essential cookies. If you don't want that, you can Decline All the use of cookies or change your Settings at any time. For more information, including the processing of data by third party providers, see our Cookie Notice . You can find further information on the use of cookies at any time in our Cookie Notice and our Privacy policy . You will find the Imprint here.

Choose which cookies are permitted by using the “Status”-Switch. Save your settings with the button “I Agree”.

You can find further information on the use of cookies at any time in our Cookie Notice and our Privacy policy . You will find the Imprint here.

Largest travel companies by market cap

This is the list of the largest travel companies by market capitalization. Only the top travel companies are shown in this list and travel companies that are not publicly traded are excluded. The ranking and the market cap data shown on this page are updated daily.

What is the market capitalization of a company?

The market capitalization sometimes referred as Marketcap, is the value of a publicly listed company. In most cases it can be easily calculated by multiplying the share price with the amount of outstanding shares.

CompaniesMarketCap is receiving financial compensation for Delta App installs. CompaniesMarketCap is not associated in any way with CoinMarketCap.com Stock prices are delayed, the delay can range from a few minutes to several hours. Company logos are from the CompaniesLogo.com logo database and belong to their respective copyright holders. Companies Marketcap displays them for editorial purposes only.

- Privacy policy

- Terms and conditions

© 2024 CompaniesMarketcap.com

  • Search Please fill out this field.
  • Manage Your Subscription
  • Give a Gift Subscription
  • Newsletters
  • Sweepstakes

These Are the Best Travel Companies to Work For (Video)

travel industry companies

If you’re looking for a job with big travel bonuses, Fortune has a list of places to send your resumé .

According to Fortune ’s list of “100 Best Companies,” Hilton skyrocketed to become the best company to work for in 2019.

Last year, the company was only ranked 33rd on the list. The hotel company (which also includes Waldorf Astoria, Conrad, and Embassy Suites, among others) recently underwent sweeping changes regarding employee culture.

“We forgot that we are a business of people serving people, and the corporate environment got very disconnected from the front line,” Hilton CEO Chris Nassetta told Fortune .

According to Great Place to Work , 96 percent of Hilton employees say the company is a great place to work. Top favorite attributes include opportunities to travel, a “family” feel, and company benefits. According to Glassdoor, one of the best company perks is “being able to book rooms at any Hilton Worldwide property on staff rates.”

Also included in the top 10 best companies was Kimpton Hotels & Restaurants . Coming in at No. 5 on the list, employees of the boutique hotel and restaurant company praised its “thoughtful” culture. Those who go above and beyond the call of duty can redeem their good deeds for rewards like Apple Watches, spa gift certificates, or days off.

Although Mariott came in 31st on the overall list, on Fortune ’s list of best large companies, the hotel chain placed second. Hyatt Hotels came in the rankings at 32nd. Four Seasons Hotels & Resorts ranked 89th on the list.

Transportation based-companies appeared less frequently on the list than hospitality. The highest people-moving company on the list was Delta Air Lines, ranking at No. 97.

Related Articles

  • According to our Build for the Future survey, a small group of forward-thinking travel businesses have cultivated key attributes that help them thrive.
  • Travel leaders have 45% more capabilities in differentiated people advantage than laggards because they upskill existing personnel and attract and retain new talent, which allows them to offer customers a better experience.
  • Leaders have 68% more AI capabilities than laggards because they deploy advanced analytics throughout the travel value chain to offer hyper-personalization.

Subscribe to read our latest insights on Travel and Tourism.

" "

Travel and Tourism

/ slideshow, building the travel company of the future, key takeaways.

The following insights are part of BCG’s Build for the Future series, based on three years of research conducted on digital transformations at major organizations around the globe.

Planning a trip once meant consulting a guidebook or working with a travel agent. Today, people may plan a getaway based on a TikTok influencer’s recommendation, an online review, or a personalized ad fed to them by an algorithm.

These and other evolving consumer behaviors, coupled with cost pressures, are redefining competition in the travel business and the capabilities needed to succeed. As a result, the travel industry is facing challenges in all sectors, including airlines, hotels, theme parks, and cruise lines. The challenges are especially acute for long-time incumbents playing catch-up with digital natives.

Against this background of change, a handful of travel companies are thriving. According to our Build for the Future survey, the most forward-thinking travel businesses share a number of common attributes. These traits allow them to excel regardless of customer or market pressures and produce financial and nonfinancial outcomes that outshine those of their peers. (See “Build for the Future.”)

Build for the Future

  • Five areas that are fundamental to success
  • The emphasis of transformation efforts
  • How successful transformation efforts have been
  • The degree to which each of more than 50 potential influencing capabilities were in place

At a Glance

Our Build for the Future survey identified a small cadre of companies we refer to as “future-built,” with attributes that make them more ready than their peers for what’s on the horizon. These traits include: aligned leadership and purpose, differentiated people advantage, agile operating model, innovation-driven culture, modern technology platforms, and AI .

Future-built travel companies use these attributes as a springboard to improve their performance in four specific areas:

  • Customer Experience. They elevate travel experiences by designing seamless, digital-first customer journeys, enhancing touchpoints, and reimagining loyalty to foster lasting connections.
  • Commercial Excellence. They sharpen their competitive edge by using dynamic pricing and revenue management strategies, crafting tailored marketing narratives, and accelerating growth through digital sales channels.
  • Operational Innovation. They infuse operations with digital agility, they forecast and preempt maintenance needs, and they execute capital projects with precision to redefine operational excellence.
  • Cost and Resilience. They employ a holistic view of managing costs, embed zero-based budgeting principles, and streamline procurement to lift efficiency and instill resilience.

Among the 24 industries analyzed in our Build for the Future research, travel is one of the more advanced when it comes to being ready for the future. That’s primarily because of the advanced practices used by digital newcomers. Long-time travel players, however, trail the majority of incumbents in comparable consumer-facing industries when it comes to future readiness. In particular, travel incumbents lag in adopting innovation-driven cultures and cultivating a differentiated people advantage.

Read the slideshow to learn more about the survey findings.

travel industry companies

Focusing on People and AI

The difference between travel industry leaders and laggards is particularly acute in two areas:

Differentiated People Advantage. Travel industry leaders have an edge in upskilling existing personnel and attracting and retaining new talent, which allows them to offer customers a better experience booking travel or taking a trip. Leaders in the hospitality sector of the travel business, for example, improve hiring and retention through continuous benchmarking to ensure that compensation is equal to or above that for comparable jobs in other industries, and by offering flexible schedules. Hospitality leaders also support diversity and inclusion. They also target messaging, outreach programs, and other actions to appeal to specific groups of current, past, and prospective employees.

AI. Travel industry leaders deploy advanced analytics and AI throughout the travel value chain. By optimizing their supply chain and offering hyper-personalization, these bionic companies successfully combine human and advanced technology capabilities, gaining a competitive advantage that can take a variety of forms. During severe weather, airlines use these capabilities to minimize customer travel disruptions by selecting the next best flight schedules. Cruise lines use their combined people and advanced technology capabilities to fine-tune pricing during cruise booking periods to maximize occupancy and revenue.

How Travel Industry Incumbents Can Catch Up

To become future-built travel businesses, companies might consider the following moves to foster the six winning attributes we’ve identified:

Aligned Leadership and Purpose. Leadership is central to becoming future-built. Companies in industries of all types with a systematic and well-supported approach to activate leaders see transformation success rates that are three times higher than those of their competitors. Leaders at these companies reimagine and reinvent the business to serve all stakeholders, inspire and enrich the human experience, and execute and innovate through supercharged teams.

Differentiated People Advantage. Combine people and machines for a new model of customer service excellence. Use generative AI’s (GenAI) emerging power to equip frontline staff with behavioral nudges and as support for personalized customer interactions.

Agile Operating Model. Build a minimum viable operating model to support innovation and establish an innovation flywheel . Such a learning loop increases a company’s chances of building the next game-changing product or service and decreases the time needed to bring digital products to market.

Innovation-Driven Culture. Create an innovation-focused culture that embraces risk, fosters collaboration, and grants autonomy to internal teams. Then, use that culture to put customer experience at the heart of everything you do.

Modern Technology Platforms. Ensure that efforts to establish data platforms and modernize core systems start at the top, in the executive suite. Guide modernization initiatives with a rigorous focus on business outcomes. Work backward from the outcome you want to achieve, analyzing the data that has to be liberated and the systems that have to change to accomplish your goals.

AI. Use the excitement generated by GenAI to invigorate AI transformation programs, especially for managing revenue, managing operations, and personalizing customer interactions.

Call it the Instagram effect. People influenced by what they see on social media have higher expectations for travel and the services they get from the travel companies they work with. By cultivating superior people practices and an innovation-based culture, travel laggards can catch up with industry leaders and provide the services that customers want.

ABOUT BOSTON CONSULTING GROUP

Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

© Boston Consulting Group 2024. All rights reserved.

For information or permission to reprint, please contact BCG at [email protected] . To find the latest BCG content and register to receive e-alerts on this topic or others, please visit bcg.com . Follow Boston Consulting Group on Facebook and X (formerly Twitter) .

Contact Our Experts

fraser-michael-tcm9-25436.jpg

Michael Fraser

Managing Director & Partner

Los Angeles

Headshot of BCG expert Alberto Guerrini

Alberto Guerrini

Managing Director & Senior Partner

Andy.png

Andy Levine

Headshot of BCG expert Lara Koslow

Lara Koslow

fetherston-julia-tcm9-156657.jpg

Jason Guggenheim

Managing Director & Senior Partner, Travel & Tourism Global Leader

Ryan Trocinski

Ryan Trocinski

Karan Jagitani.png

Karan Jagitani

San Francisco - Bay Area

Michael Fraser is a Partner in the Los Angeles office. He joined the Los Angeles office of BCG in 2012 as a consultant. He holds a JD and a Bachelor of Commerce (majors actuarial studies and finance) from the University of New South Wales, Australia. Since joining BCG Michael has focused on Industrial Goods and Financial Services, with casework across a range of functional areas, including Marketing and Sales, People and Organization as well as Transformation. He has recently returned from casework in Brazil - a country he thoroughly enjoyed experiencing. Prior to joining BCG Michael worked for an Australian investment bank in Sydney and in New York where he spent time in equity and credit research, infrastructure a strong area of concentration. In his time away from the office, Michael enjoys the sights and sounds that Los Angeles has to offer, with his knowledge of the town happily increasing with each passing weekend!

California’s Digital Opportunity in Public Services | Rectangle

Alberto Guerrini joined Boston Consulting Group in 2005. He is a core member of the firm’s Consumer practice; leader of the firm’s travel and tourism sector in IGT (Italy, Greece, and Turkey); and leader of the firm’s People and Organization practice in IGT. Alberto is also a leading member of BCG’s global initiative for pricing and revenue management in travel and tourism.

" "

Lara Koslow is global leader of Boston Consulting Group’s Center for Customer Insight and part of the firm’s global Marketing, Sales & Pricing leadership team. She is the former global co-leader and North American leader of BCG’s marketing topic.

""

Julia Dhar joined Boston Consulting Group in 2009 and is a core member of the People & Organization , Industrial Goods, Public Sector, and Social Impact practices. She founded and leads BCG’s Behavioral Science Lab and the firm’s behavioral science network BeSmart, and is a member of BCG’s global Change Management leadership team. Trained as a behavioral economist, Julia champions the use of behavioral insights to improve product and service design and delivery to make countries and organizations more inclusive, sustainable, and productive. She is deeply involved in the firm's IP development on the Future of Work and co-leads BCG’s work on deskless workers.

" "

Jason Guggenheim joined Boston Consulting Group in 2001 as a consultant after practicing as an attorney for 3 years in Johannesburg, South Africa. Jason studied at the University of the Witwatersrand in Johannesburg and received an undergraduate degree in finance and economics and a graduate degree in law from Oliver Schreiner School of Law at the University of the Witwatersrand. After leaving BCG in 2002, Jason took a strategy/corporate development role in the Ventures group at Delta Air Lines. In 2004, Jason joined a 4 person team, led by the then-CFO of Delta Air Lines, who took on the restructuring of the bankrupt independent energy provider Mirant Corporation. Following the emergence from bankruptcy of Mirant Corporation, Jason returned to BCG in 2007 to further his interest in strategy, travel and tourism, and turnaround work. Over the past few years, Jason has focused on cruiseline and airline work, serving clients in both the US and Europe.

" "

Related Content

What’s Next

Read more insights from BCG’s teams of experts.

Build for the Future Ambient Hero

BCG’s research reveals six key success factors and the steps companies need to take to drive innovation, gain competitive advantage, and build for the future.

" "

How a Platform Operating Model Can Drive Agility and Resilience

Organization-wide platforms for product and service delivery enable agile ways of working and rapid recovery from crisis.

Why Airlines Need to Nudge Behavior Not Just Hedge Fuel Costs Hero Rectangle

Why Airlines Need to Nudge Behavior, Not Just Hedge Fuel Costs

Saving fuel is everybody’s business, from dispatchers and pilots to cabin crews and passengers.

" "

Can Rising Borrowing Costs Create Unexpected Opportunity for Hotels?

Uncertainty, inflationary fears, and elevated interest rates have a chilling effect on investment. But strong demand for rooms makes hotels one of the few sectors that enjoy pricing flexibility in a broader economic downturn.

""

Building Customer Experience for the Future

How can businesses adapt to fast-evolving expectations? Here are the capabilities companies need to thrive.

18 Companies & Startups Revitalizing Travel in 2024

travel industry companies

You may also like: 

  • Top Travel Industry Trends
  • 20 Disruptive Transportation Startups
  • 6 Important Hospitality Trends

The travel industry was one of the hardest hit industries during the pandemic.

In 2023, global tourism recovered, jumping back to  84% of pre-pandemic levels . However, the industry as a whole isn't expected to recover until 2027 .

Despite that, some travel startups are still growing exponentially.

Check out this list of companies that are looking to revitalize the travel industry in 2024 and beyond.

1. TravelPerk

travel industry companies

5-year search growth : 270%

Search growth status : Exploding

Year founded : 2015

Location : Barcelona, Spain

Funding : $530.3M (Series Unknown)

What they do : TravelPerk is a travel management platform designed to simplify business travel. It offers a centralized platform for booking, managing, and analyzing business travel, with features such as real-time booking, expense management, and travel policy enforcement. The company aims to reduce the time and cost associated with business travel while providing a seamless and enjoyable experience for travelers.

2. SafetyWing

travel industry companies

5-year search growth : 1,550%

Year founded : 2017

Location : Palo Alto, California

Funding : $47.1M (Series B)

What they do : SafetyWing is an insurtech company that focuses on digital nomads. Their flagship "Nomad Insurance" is accepted across several different countries (ideal for travel). SafetyWing also offers a B2B "Remote Health" product that provides coverage for remote teams.

travel industry companies

5-year search growth : 99x+

Year founded : 2019

Location : Singapore, Singapore

Funding : $67.3M (Series B)

What they do : Airalo is an alternative to using multiple SIM cards while traveling. Specifically, the company offers over 190 affordable "eSIMs" that can be switched over with a few clicks. eSIMs aren't supported by all smartphones. But are becoming an increasingly-common feature in newer models. The SIM company recently raised $60 million in their most recent series B funding found.

4. Roadsurfer

travel industry companies

5-year search growth : 1,360%

Location : Bayern, Germany

Funding : $33.9M (Series Unknown)

What they do : Roadsurfer rents out customized camper vans in 13 countries in Europe. Besides the core rental service, the startup also offers a number of optional add-ons for each trip, like kitchen cutlery. Each plan also includes an insurance policy.

5. YouLi (YouLive to Travel)

travel industry companies

5-year search growth : 41%

Search growth status : Peaked

Year founded : 2016

Location : Melbourne, Australia

Funding : $200K (Angel)

What they do : YouLi is an all-in-one travel management software for organizing group trips and company retreats. The software includes a number templates for different types of travel itineraries. The software also has a member's area that travelers can use to manage and pay for their trips.

6. PickYourTrail

travel industry companies

5-year search growth : 188%

Search growth status : Regular

Year founded : 2014

Location : Chennai, India

Funding : $3M (Series Unknown)

What they do : PickYourTrail is a platform for booking entire trips online (including flight, road transportation and lodging). The startup reports that 46,000 people have used the service to date.

travel industry companies

5-year search growth : 400%

Location : New York, NY

Funding : Undisclosed

What they do : Tracki is a travel tech startup that provides real-time GPS tracking solutions for individuals, families, and businesses. Their products range from portable GPS trackers to asset trackers and pet trackers, which can be easily monitored through their mobile app or web platform.

8. Very Local Trip

undefined

5-year search growth : 475%

What they do : Very Local Trip connects travelers with local tour guides. In other words, the startup is a focused version of Airbnb's "Experiences" feature.

undefined

5-year search growth : 4,900%

Year founded : 2018

Location : Madrid, Spain

Funding : $200.6K (Seed)

What they do : Holafly is an eSIM startup that offers international data plans for travelers. The company partners with local providers in different countries and offers unlimited data plans for a fixed time period. Currently, the startup operates in 160+ countries with 1 million customers worldwide. 

undefined

5-year search growth : 21%

Location : New York, New York

Funding : $181M (Series D)

What they do : Away is a DTC travel brand. Often called the “Warby Parker for suitcases,” the company keeps overhead costs low by selling direct-to-consumer. Away's product line includes sleep masks, travel pillows and compression socks.

travel industry companies

5-year search growth : 231%

Location : Denver, Colorado

What they do : GOTRAX is an electric scooter company that provides affordable and eco-friendly transportation solutions for urban dwellers. With a range of electric scooters for adults and kids, GOTRAX offers a convenient and cost-effective way to navigate through busy city streets.

12. Lodgify

travel industry companies

Year founded : 2012

Funding : $36.6M (Series B)

What they do : Lodgify develops software that help property owners manage their vacation rental properties. The all-in-one website includes features to manage bookings, accept reservations, and synchronize across different platforms, including Airbnb, Vrbo, and Expedia.

13. Bobobox

5-year search growth : 325%

Location : Badung, Indonesia

Funding : $13M (Series A)

What they do : Bobobox is a technology-based hospitality startup that provides affordable and accessible capsule hotels for travelers in Indonesia. The company utilizes an app-based platform that allows customers to book and manage their stays, as well as access various hotel amenities and services. Bobobox aims to revolutionize the hospitality industry in Indonesia by offering affordable and convenient lodging options that cater to the needs of modern travelers.

travel industry companies

5-year search growth : 6%

Location : Bucharest, Romania

Funding : $1.8M (Seed)

What they do : Questo is a mobile app for iPhone and Android that gamifies city exploration. Users embark on "quests" in order discover interesting spots and learn about local lore. Each quest is designed by a local "creator". The app currently offers quests in over 100 cities.

15. Bespoke

travel industry companies

5-year search growth : 39%

Location : Tokyo, Japan

Funding : $2.5M (Series B)

What they do : Bespoke has developed an AI-powered chatbot designed for multilingual guest services. Their software provides hotel guests with answers to hotel-specific questions, local recommendations, and restaurant reservations. Bespoke was used by the Japanese government during COVID-19 to communicate critical health and safety updates to residents and travelers.

16. Tailos (Formerly Maidbot)

travel industry companies

5-year search growth : 340%

Location : Austin, Texas

Funding : $50K (Series B)

What they do : Tailos , formerly Maidbot, manufacturers a housekeeping robot (named Rosie) designed to clean hotels and commercial buildings. Rosie takes on "dull, dirty, and dangerous tasks", in order to reduce injuries to staff while increasing productivity and consistency.

17. TasteAtlas

travel industry companies

5-year search growth : 375%

Location : Zagreb, Croatia

What they do : TasteAtlas is a food and travel startup that provides a comprehensive guide to traditional dishes, drinks, and ingredients from all over the world. The platform offers a database of authentic food recommendations and local restaurants to help travelers discover new cuisines and experiences. Additionally, TasteAtlas allows users to create their own food maps and share their culinary discoveries with others.

18. Roame Travel

undefined

5-year search growth : 2,300%

Search growth status : Exploding 

Year founded : 2023

Location : San Francisco, California

What they do : Roame is a free award travel search engine that finds available flights that qualify for credit card points and miles redemption. Currently, Roame provides search results for 16 airline loyalty programs and 200 airlines . Users can upgrade to a premium membership to access the SkyView feature, a search function that finds flights within a 90-day search window. 

That wraps up our list of travel startups growing despite the hardships of the pandemic.

The trend away from traditional hotels and towards short-term rental properties, RVs, and campsites accelerated this year as more people work remotely and seek a change of scenery.

There is also a notable shift towards AI and automation, as hotels seek to cut costs and increase efficiency.

Find Thousands of Fast-Growing Startups With Our Platform

newsletter banner

Back to the future? Airline sector poised for change post-COVID-19

It’s difficult to overstate just how much the COVID-19 pandemic has devastated airlines. In 2020, industry revenues totaled $328 billion, around 40 percent of the previous year’s. In nominal terms, that’s the same as in 2000. The sector is expected to be smaller for years to come; we project traffic won’t return to 2019 levels before 2024.

Financial woes aside, the pandemic’s longer-term effects on aviation are emerging. Some of these are obvious: hygiene and safety standards will be more stringent, and digitalization will continue to transform the travel experience. Mobile apps will be used to store travelers’ vaccine certificates and COVID-19 test results.

Other effects, though, are more profound. Unlike the 2008 global financial crisis, which was purely economic and weakened spending power, COVID-19 has changed consumer behavior—and the airline sector—irrevocably.

This article will explore five fundamental shifts in the aviation industry that have arisen from the pandemic. For each of these shifts, we also issue a call to action. By responding to these shifts decisively now, carriers should be able to look beyond the pandemic and adapt to the long-term realities of COVID-19.

1. Leisure trips will fuel the recovery

Business travel will take longer to recover, and even then, we estimate it will only likely recover to around 80 percent of prepandemic levels by 2024. Remote work  and other flexible working arrangements are likely to remain in some form postpandemic and people will take fewer corporate trips.

In previous crises, leisure trips or visits to friends and relatives tended to rebound first, as was the case in the United Kingdom following 9/11 and the global financial crisis (Exhibit 1). Not only did business trips take four years to return to precrisis levels after the attacks on the World Trade Center but they also had not yet recovered to pre-financial-crisis levels when COVID-19 broke out in 2020. Therefore, we expect that as the pandemic subsides, the rise in leisure trips will outpace the recovery of business travel.

Some carriers are highly dependent on business travelers—both those traveling in business class and those who book economy-class seats right before they need to travel. While leisure passengers fill up most of the seats on flights and help cover a portion of fixed costs, their overall financial contributions in net marginal terms are negligible, if not negative. Most of the profits earned on a long-haul flight are generated by a small group of high-yielding passengers, often traveling for business. But this pool of profit-generating passengers has shrunk because of the pandemic.

Corporate travel

A McKinsey Live event on 'Returning to corporate travel: How do we get it right?'

The call: Revisit flight economics

Airlines should reevaluate the economics of their operations, especially long-haul flights. First, a smaller contribution from business traffic could necessitate a different pricing logic. For example, today most carriers price point-to-point nonstop flights at a premium. Travelers who value time over price—mostly business travelers—book these nonstop flights. Leisure travelers, even those traveling in premium classes, are more price sensitive and may choose an indirect routing. This large gap between nonstop pricing and connect pricing may need to narrow.

Second, lower business traffic may require network changes. Airlines added many flights over the past few years between hubs and smaller cities, using small-size widebodies such as the Boeing 787. These flights work because of the high-yielding business demand. With business demand subdued, economics favor larger aircraft flying less frequently. Airlines may find that larger aircraft such as Airbus A350s or Boeing 777s—which have lower unit costs—become the base of the long-haul network.

Third, airlines may also look at reconfiguring the layout of their cabins to address the increased share of leisure traffic. At the simplest level, lower business-class demand may warrant smaller business-class cabins. Taking this further, products may shift to better cater to premium-leisure passengers, such as growth of premium-economy cabins or development of business-class seats more suitable for traveling as couples or groups.

2. Staggering debt levels will lead to ticket price increases and a larger role for government in the sector

Many airlines have had to borrow huge sums of money to stay afloat and cope with high daily cash burn rates. Tapping into state-provided aid, credit lines, and bond issuances, the industry collectively amassed more than $180 billion worth of debt in 2020, 1 “COVID-19 lowers airline credit ratings and raises the cost of debt,” International Air Transport Association, August 21, 2020, iata.org. a figure equivalent to more than half of total annual revenues that year. And debt levels are still rising (Exhibit 2). Repaying these loans is made even harder by worsening credit ratings and higher financing costs.

These costs will need to be recouped. Therefore, we’ll likely see ticket prices rise. By our estimates, this could amount to a rise in ticket prices of about 3 percent, assuming a ten-year repayment window for only the additional debt taken on.

Furthermore, when demand for air travel returns, it will likely outpace supply initially. We see a glut of latent demand of people eager to travel. It will take time for airlines to restore capacity, and bottlenecks such as delays in bringing aircraft back to service and crew retraining could lead to a supply–demand gap, resulting in higher short-term prices.

In many cases, airline rescue efforts come in the form of government bailouts—with strings attached. We’re seeing a reemergence of, or increase in, the level of state ownership and influence. In Europe alone, TAP Air Portugal, Lufthansa Group, and Air Baltic all received state aid combined with an increase or reintroduction of government shareholdings.

The call: Be a constructive collaborator

As the state becomes a more active player—whether as a creditor, a direct shareholder, or as part of the board—airlines will find themselves having to deal more closely with the authorities. Instead of seeing this as a necessary restriction to access much-needed funds, airlines can treat it as an opportunity to shape how the sector evolves with a key stakeholder.

Airlines can work with regulators to set standards across a gamut of issues. These could include committing to reductions in greenhouse-gas emissions in return for more labor flexibility; increasing the cash-on-hand requirements to make airlines more resilient against future shocks; more balanced value sharing between airlines and other sectors such as airports; or changes in the ownership caps to allow greater inflows of foreign capital, reducing the reliance on state capital further down the road.

3. We will see a greater disparity of performance among airlines in the future

Some airlines have responded to the pandemic by restructuring for greater efficiency; others are merely muddling through. Occasionally, this is linked to state-aid programs, which may reduce the incentive for much-needed measures such as cost, organizational, and operational restructuring. Airlines that are not proactively transforming risk failing to set the business up for longer-term structural value creation.

As such, we’re seeing some airlines pull ahead. Before COVID-19, an airline boasted an ROIC well ahead of the overall industry’s rate of 5.8 percent. Not only did its stronger position pre-COVID-19 enable it to navigate the crisis thus far without taking on government loans of the scale relative to other airlines, it also made it possible for it to restructure to emerge with an even more competitive cost base.

Another group of carriers that have an opportunity to transform their business are airlines that have access to a restructuring process, such as Chapter 11 in the United States. These carriers can renegotiate midlife leases, shed excess debt, and emerge leaner. They will be fierce competitors going forward.

The call: Aim higher when it comes to IT and digital investment

Becoming better can necessitate investment. Even though many airlines find themselves in financial straits, we recommend investing more in IT and digitalization, not less. Before the pandemic, airlines spent roughly 5 percent of their revenue on IT. This is relatively low compared with other sectors. By means of comparison, the retail industry spends around 6 percent on average, and financial services 10 percent.

Airlines could consider stepping up IT and automation investment now. For example, airlines can respond to the quicker recovery of domestic and short-haul flights by investing in direct sales and owning the customer relationship. Relationships with IT and distribution providers could be reexplored. Carriers can also invest in the customer experience—such as making check-in and boarding processes more seamless—and support services—from revenue accounting to invoicing—to drive the next level of efficiency. Beyond this, the next horizon is analytics, which involves, among other efforts, using data  in smarter ways to enhance decision making, requiring some investment but yielding significant payoffs .

4. Aircraft markets may be oversupplied for some time to come

In the years before COVID-19, aircraft OEMs ramped up production in the anticipation of continued growth. This has led to a glut in aircraft availability. Furthermore, some carriers have returned relatively new aircraft to lessors, such as Norwegian Air Shuttle when it exited the long-haul market. Prices for used-aircraft leases have plummeted and are likely to remain lower. For instance, the monthly lease rate of a 2016 vintage Boeing 777-300ER aircraft was around $1.2 million in 2019. In 2020, the rate fell to less than $800,000. New aircraft are rumored to be available at even deeper discounts.

The call: Act countercyclically now, if you can

If finances permit, carriers can consider acting countercyclically: locking in orders for new aircraft or confirming operating leases now when demand is low. Aircraft are a significant expense for an airline, making up 10 to 15 percent of a carrier’s cost base. As lease rates and OEM pricing fluctuate with supply and demand levels, inking deals during a crisis could allow carriers to enjoy a cost advantage for years to come.

5. Air freight will see undersupply for some time

Over the past ten years, low cargo rates and the unprofitability of the cargo business have led many airlines to relinquish or scale back their dedicated cargo freighter fleets. However, cargo has been a lifeline for the aviation industry during COVID-19. Before the pandemic, cargo typically made up around 12 percent of the sector’s total revenue; that percentage tripled last year. Based on data from the Airline Analyst, only 21 (down from 77 in 2019) of the airlines around the world that disclosed their operating performance achieved positive operating profits for the third quarter of 2020, traditionally the industry’s most profitable quarter. Among these 21 airlines, cargo revenue accounted for 49 percent of total revenues on average.

During the pandemic, e-commerce sales soared while many passenger flights—which are responsible for delivering around half of total air cargo—were grounded. As a result, cargo yields increased by about 30 percent last year. As commercial flights gradually return, belly supply will increase, although not to pre-COVID-19 levels for at least a few years, as the industry is expected stay smaller than before the pandemic for several years.

The call: Bring back freighters, carefully

In response to the high demand and low supply of air freight right now, carriers could investigate short- to medium-term opportunities to boost their cargo services. Airlines can enhance their flexibility through measures such as increasing the deployment of so-called preighters, or passenger airplanes that are used to transport cargo. Airlines may look at freighter conversions, especially as their passenger fleets reduce in number.

Airlines need to be agile. Rushing headlong into developing and maintaining a large freighter fleet again comes with risk. Airlines need to grow cargo in an agile way that allows for quick adjustments; pursuing such a play should be seen as part of a wider theme of establishing a more flexible production setup. High fixed costs combined with unpredictable demand levels outside an airline’s control increase the need for airlines to be able to scale down supply nimbly.

The impact of the COVID-19 pandemic is far from over. There is some relief to be found in various parts of the world now that vaccinations have begun, but the road to recovery for air traffic will take several years. The shape of the post-COVID-19 airline sector is becoming clearer and holds lessons for airlines today. Multiple longer-running trends have been accelerated, such as digitization and the phasing out of less efficient aircraft. Burdened by debt, many carriers have depleted their cash reserves. But the forecast is not without bright spots. Travel will become greener and more efficient, and people are itching to travel again for holidays. Taking steps now will help airlines thrive in this transformed sector.

Jaap Bouwer is a senior expert in McKinsey’s Amsterdam office, Steve Saxon is a partner in the Shenzhen office, and Nina Wittkamp is a partner in the Munich office.

The authors wish to thank Alex Dichter and Vik Krishnan for their contributions to this article.

This article was edited by Jason Li, a senior editor in the Shanghai office.

Explore a career with us

Related articles.

Airline data: What next beyond crisis response?

Airline data: What next beyond crisis response?

Will airline hubs recover from COVID-19?

Will airline hubs recover from COVID-19?

‘Prepare for the marathon and be ready for the course to change’: An interview with the Boston Logan Airport CEO

‘Prepare for the marathon and be ready for the course to change’: An interview with the Boston Logan Airport CEO

  • English (UK)
  • English (CA)
  • Deutsch (DE)
  • Deutsch (CH)

Top 7 best travel agency software in 2024

What is travel agency software and who is it useful for, what benefits does travel agent software offer.

  • Simplified booking processes: Customers can compare and book flights, accommodation, and services from various suppliers via a user-friendly travel booking system.
  • Automation of back-office tasks: Automated itinerary creation, invoicing, and payments help businesses save time and boost productivity.
  • Real-time inventory management: Centralized inventory data enables businesses to make customized recommendations and prevent overbooking.
  • Built-in Customer Relationship Management (CRM): Businesses can better manage customer relationships by tracking interactions and preferences.
  • Immediate cost savings: Businesses can access negotiated rates and discounts to provide competitive pricing.
  • Enhanced decision-making: Businesses can easily access insights into sales, revenue, and other key metrics to help inform future business strategies.

What features and functionality to look for in travel agency software

The best travel agency software in 2024, 1. travelperk.

Core strengths:

How customers rate travelperk, travelperk pricing.

  • Starter: This plan is completely free to use, with no monthly subscription fee. The first 5 bookings each month are completely free too (with a 5% booking fee thereafter). You’ll have access to consolidated invoicing, unlimited cost centers, one policy and approval workflow, and travel restriction information and alerts.
  • Premium: For $99/month and a 3% booking fee, you’ll have access to concierge services and savings of up to 25% with VAT-ready invoices.
  • Pro: For $299/month and a 3% booking fee, you'll unlock unlimited policy and approval workflows, unlimited budgets by cost center, custom reports and insights, and access to corporate rates.
  • Enterprise: This option is designed for enterprise businesses that want to customize their requirements. To find out more about this plan, get in touch with an expert .

Traveler Street Coffee

Discover today how to give your execs a top-notch travel experience that will have them smiling every step of the way.

  • A centralized booking platform provides travel agents with access to a range of travel options, including flights, accommodations, car rentals, and more.
  • Sabre’s GDS allows travel agents to search, compare, and book travel services for their clients.
  • A mobile app enables travel management companies (TMCs), corporate travel managers, and travelers to access, manage and organize their business trips and itineraries.
  • CRM tools help travel agencies manage customer information, preferences, and communication history.
  • Reporting and analytics features provide insights into booking patterns, sales performance, and other key metrics to help travel agencies make informed business decisions.

How customers rate Sabre

Sabre pricing.

  • Businesses can publish mini websites for each project to help their clients visualize the whole trip in one go.
  • Businesses can consolidate suppliers within a personal catalog for easy management.
  • Budgets can be adjusted flexibly using dynamic pricing to align with each client's requirements.
  • Ezus automates trip costing to help agencies stay within each client's budget.
  • Travel proposal documents and quotes can be customized and tailored to an agency’s unique branding.

How customers rate Ezus

Pricing information.

  • Starter: $139 per month.
  • Professional: $399 per month.
  • Premium: $849 per month.
  • Enterprise: Customized subscription prices are available for larger enterprises.

4. Dolphin Dynamics

  • Tools to help manage and book travel services, including flights, accommodations, tours, car rentals, and cruises.
  • A travel CRM helps agencies manage customer information, preferences, communication history, and interactions to boost targeted marketing efforts.
  • Integrations with suppliers, including airlines, hotels, and car rental companies help agents access real-time product availability and accurate pricing information.
  • Reporting and analytics features enable travel agencies to gain insights into sales, revenue, booking trends, and other key performance metrics.
  • Each platform and its workflows and processes are customizable to meet the unique needs of each business.

How customers rate Dolphin Dynamics

Learn more about travelperk, 5. travelport.

  • Travel agents can access booking platforms where they can search, compare, and book flights, accommodation, car rentals, and other travel services from multiple suppliers.
  • Travelport provides APIs that enable travel agencies to integrate Travelport's data and booking capabilities into their own systems and websites.
  • The platform’s “Productivity Automator” feature streamlines workflows and reduces the number of manual back-office tasks.
  • Businesses can process payments, manage commissions, and handle financial transactions within the platform.
  • Travel agencies can access reporting and analytics tools to gain insights into sales, revenue, booking trends, and other important performance metrics.

How customers rate Travelport

Travelport pricing.

  • Businesses can improve efficiency and reduce costs with completely automated sales workflows.
  • A reporting engine helps businesses access accurate profitability reports for each tour and package product.
  • Reports on supplier performance help companies understand the revenue generated for each supplier, aiding in renegotiations for better commissions.
  • Businesses can access multilingual quotes, invoices, and travel itineraries.
  • Automated payment reminders enable quicker reconciliation.

How customers rate Lemax

Lemax pricing.

  • Juniper’s booking engine enables businesses to create personalized vacation packages for their customers.
  • Businesses can access yield management tools and adjust prices and offers according to market conditions.
  • A flexible booking system enables customers, travel agencies, and affiliates to offer products at discounted or commission-based rates.
  • Wholesale tour operators can easily offer a wide range of products from a single platform to reach thousands of clients.
  • Businesses can manage their product portfolios and update availability, change prices, and sell complementary products directly from the platform.

How customers rate Juniper

Juniper pricing.

Train Plane Travel

Make business travel simpler. Forever.

  • See our platform in action . Trusted by thousands of companies worldwide, TravelPerk makes business travel simpler to manage with more flexibility, full control of spending with easy reporting, and options to offset your carbon footprint.
  • Find hundreds of resources on all things business travel, from tips on traveling more sustainably, to advice on setting up a business travel policy, and managing your expenses. Our latest e-books and blog posts have you covered.
  • Never miss another update. Stay in touch with us on social for the latest product releases, upcoming events, and articles fresh off the press.

" "

10 Most impactful travel technology companies in 2024

business traveler in a park with corporate travel app

5 best corporate travel management apps

Europe Scaled

The 8 best business travel management companies in Europe

  • Business Travel Management
  • Offset Carbon Footprint
  • Flexible travel
  • Travelperk Sustainability Policy
  • Corporate Travel Resources
  • Corporate Travel Glossary
  • For Travel Managers
  • For Finance Teams
  • For Travelers
  • Thoughts from TravelPerk
  • Careers Hiring
  • User Reviews
  • Integrations
  • Privacy Center
  • Help Center
  • Privacy Policy
  • Cookies Policy
  • Modern Slavery Act | Statement
  • Supplier Code of Conduct

These are the top 10 countries for travel and tourism

A plane flying across Miami Beach, United States.

The US retains its prime position in the World Economic Forum's latest Travel & Tourism Development Index. Image:  Unsplash/EveLazco

.chakra .wef-1c7l3mo{-webkit-transition:all 0.15s ease-out;transition:all 0.15s ease-out;cursor:pointer;-webkit-text-decoration:none;text-decoration:none;outline:none;color:inherit;}.chakra .wef-1c7l3mo:hover,.chakra .wef-1c7l3mo[data-hover]{-webkit-text-decoration:underline;text-decoration:underline;}.chakra .wef-1c7l3mo:focus,.chakra .wef-1c7l3mo[data-focus]{box-shadow:0 0 0 3px rgba(168,203,251,0.5);} Charlotte Edmond

A hand holding a looking glass by a lake

.chakra .wef-1nk5u5d{margin-top:16px;margin-bottom:16px;line-height:1.388;color:#2846F8;font-size:1.25rem;}@media screen and (min-width:56.5rem){.chakra .wef-1nk5u5d{font-size:1.125rem;}} Get involved .chakra .wef-9dduvl{margin-top:16px;margin-bottom:16px;line-height:1.388;font-size:1.25rem;}@media screen and (min-width:56.5rem){.chakra .wef-9dduvl{font-size:1.125rem;}} with our crowdsourced digital platform to deliver impact at scale

  • Pent-up demand after the pandemic is expected to drive passenger numbers back up to pre-pandemic levels in 2024.
  • The recovery of the travel and tourism sector since the pandemic has been uneven, however, and some nations are better placed than others to respond to the challenges and opportunities of the future.
  • The top three best-placed countries for travel and tourism are the US, Spain and Japan, according to the World Economic Forum’s Travel & Tourism Development Index.

If you were desperate to get away after the restrictions and enforced staying at home of the pandemic years, you were far from alone.

Global international tourist arrivals are expected to meet pre-pandemic levels in 2024 driven by this pent-up demand. But, the recovery of the travel and tourism sector since the pandemic has not been without challenges. Add to that macroeconomic, geopolitical and environmental factors, which have added pressures on the industry.

These pressures will amplify and evolve over the coming years and, along with the growth of digital technologies and AI, may well force the travel industry to adapt.

Some economies are better placed than others to make these changes, respond to future risks and ensure that travel and tourism is a driver of economic growth and prosperity.

With this in mind, the World Economic Forum’s Travel & Tourism Development Index (TTDI) aims to serve as a benchmark for stakeholders to gauge progress, inform decisions and policies, and encourage sustainable and resilient growth.

A mixed recovery in challenging conditions

Europe dominates the top 10 economies for T&T, as ranked by the 2023 index, although the top spot is clinched by the US.

List showing the countries on the overall rankings in the Travel and Tourism Index.

But the index also shows that while 71 of the 119 economies it ranks improved their scores between 2019 and 2023, the average improvement is just 0.7% above pre-pandemic levels.

On the one hand, the rebound in travel and tourism has coincided with rising global air route capacity and connectivity, improved international openness, and increased investment in natural and cultural resources driving tourism. On the other hand, non-leisure demand is still lagging, there are ongoing labour shortages, and air route capacity and connectivity, capital investment and productivity have struggled to keep pace with demand.

This has created a supply and demand imbalance which, along with inflationary pressures, has led to reduced price competitiveness and service disruptions.

Charts showcasing the scores for Travel and Tourism Index.

Europe and Asia-Pacific have the most favourable conditions

Of the top 30 TTDI scorers in 2023, 26 are high-income countries. Nineteen of them are based in Europe, and seven in Asia Pacific.

These countries benefit from favourable business environments and labour markets, open travel policies, advanced technology adoption, excellent transport and tourism infrastructure, and rich natural, cultural and non-leisure attractions.

As a result, this group of 30 accounted for more than three-quarters of T&T industry GDP in 2022, and 70% of GDP growth between 2020 and 2022.

Map showcasing the scores for Travel and Tourism Index.

But although this group is leading the way, many of the above-average improvements in scores come from low- to upper-middle-income countries, including sub-Saharan and North Africa, Eurasia, South America, South Asia, and the Balkans and Eastern Europe.

While many have shown improvements, these less affluent countries still make up the vast majority of below-average scorers in the index. More investment is needed to help increase their share of the market and improve their readiness for future risks and opportunities.

Progress needed on resilience and equality

The ability of the travel and tourism sector to grow is limited by challenges like tight labour markets, growing fiscal constraints and concerns around health and security conditions. Labour market resilience will be an increasingly important factor for the sector, but issues like equality of job opportunities, workers’ rights and social protection are holding many economies – particularly low- and middle-income ones – back in this area.

As other sectors proceed to decarbonize, the aviation sector could account for a much higher share of global greenhouse gas emissions by mid-century than its 2%-3% share today.

Sustainable aviation fuels (SAF) can reduce the life-cycle carbon footprint of aviation fuel by up to 80%, but they currently make up less than 0.1% of total aviation fuel consumption. Enabling a shift from fossil fuels to SAFs will require a significant increase in production, which is a costly investment.

The Forum’s Clean Skies for Tomorrow (CST) Coalition is a global initiative driving the transition to sustainable aviation fuels as part of the aviation industry’s ambitious efforts to achieve carbon-neutral flying.

The coalition brings together government leaders, climate experts and CEOs from aviation, energy, finance and other sectors who agree on the urgent need to help the aviation industry reach net-zero carbon emissions by 2050.

The coalition aims to advance the commercial scale of viable production of sustainable low-carbon aviation fuels (bio and synthetic) for broad adoption in the industry by 2030. Initiatives include a mechanism for aggregating demand for carbon-neutral flying, a co-investment vehicle and geographically specific value-chain industry blueprints.

Learn more about the Clean Skies for Tomorrow Coalition's impact and contact us to find out how you can get involved.

Another major hurdle for the sector is balancing growth with sustainability. Although there has been broad progress in areas like energy sustainability, some progress – like the fall in emissions seen during the pandemic – is likely to only be temporary.

Have you read?

What is overtourism and how can we overcome it , rising global temperatures are already affecting the tourism industry - here's how, don't miss any update on this topic.

Create a free account and access your personalized content collection with our latest publications and analyses.

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

The Agenda .chakra .wef-n7bacu{margin-top:16px;margin-bottom:16px;line-height:1.388;font-weight:400;} Weekly

A weekly update of the most important issues driving the global agenda

.chakra .wef-1dtnjt5{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-flex-wrap:wrap;-ms-flex-wrap:wrap;flex-wrap:wrap;} More on Energy Transition .chakra .wef-17xejub{-webkit-flex:1;-ms-flex:1;flex:1;justify-self:stretch;-webkit-align-self:stretch;-ms-flex-item-align:stretch;align-self:stretch;} .chakra .wef-nr1rr4{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;white-space:normal;vertical-align:middle;text-transform:uppercase;font-size:0.75rem;border-radius:0.25rem;font-weight:700;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;line-height:1.2;-webkit-letter-spacing:1.25px;-moz-letter-spacing:1.25px;-ms-letter-spacing:1.25px;letter-spacing:1.25px;background:none;padding:0px;color:#B3B3B3;-webkit-box-decoration-break:clone;box-decoration-break:clone;-webkit-box-decoration-break:clone;}@media screen and (min-width:37.5rem){.chakra .wef-nr1rr4{font-size:0.875rem;}}@media screen and (min-width:56.5rem){.chakra .wef-nr1rr4{font-size:1rem;}} See all

travel industry companies

Data volume is soaring. Here’s how the ICT sector can sustainably handle the surge

Bart Valkhof and Eleni Kemene

May 22, 2024

travel industry companies

European financial institutions are confronting new challenges. Here's how

Kalin Anev Janse and Kim Skov Jensen

travel industry companies

India facing record power shortfall for June, and other top energy stories this month

Roberto Bocca

May 21, 2024

travel industry companies

Critical minerals demand has doubled in the past five years – here are some solutions to the supply crunch

Emma Charlton

May 16, 2024

travel industry companies

How wind energy is reshaping the future of global power and politics

Rishabh Mishra

May 14, 2024

travel industry companies

Boosting renewable energy growth through responsible value chains: A case study from China

Vee Li and Zhang Xun

May 13, 2024

5 Countries With Booming Tourism Industries

Rashaad Jorden , Skift

May 22nd, 2024 at 4:12 AM EDT

Today's podcast looks at emergent tourism destinations, Four Seasons' remote gamble, and an airport slot battle in Washington, D.C.

Rashaad Jorden

Series: Skift Daily Briefing

Skift Daily Briefing Podcast

Listen to the day’s top travel stories in under four minutes every weekday.

Good morning from Skift. It’s Wednesday, May 22. Here’s what you need to know about the business of travel today.

🎧 Subscribe

Apple Podcasts  |  Spotify  |  Overcast  |  Google Podcasts  |  Amazon Podcasts

Episode Notes

The World Economic Forum recently released its 2024 Travel & Tourism Index. Global Tourism Reporter Dawit Habtemariam and Senior Hospitality Editor Sean O’Neill profiles five countries the organization named as among the most-improved economies for enabling travel and tourism development since 2019. 

Habtemariam and O’Neill highlight Albania, Indonesia, Egypt, Tanzania, and El Salvador. In particular, Albania has seen a 141% increase in daily flight traffic since 2019. Meanwhile, Indonesian authorities boosted domestic tourism last year by launching a program that gave financial support to more than 170 festivals and cultural events. 

Habtemariam and O’Neill note that the World Economic Forum has recommended that tourism leaders develop strategies to combat challenges such as labor shortages and climate change. 

Next, the Four Seasons is betting that luxury travelers will be willing to make a long journey to the remote Pacific island of Palau, writes Columnist Colin Nagy. 

The Four Seasons is planning to open a permanent hotel development in Palau in the next few years. Armando Kraenzlin, a longtime Four Seasons general manager, described Palau as “one of the last true remaining frontiers.” The Great Barrier Reef Foundation reported that Palau is the only country to have protected 80% of its offshore marine environment. 

In addition, Nagy notes the Four Seasons has relocated its liveaboard ship, the Explorer, from the Maldives to Palau, as well as moved some diving instructors and marine biologists. 

Finally, airlines are scrambling to acquire the five new slots for long-distance flights departing from Reagan National Airport, writes Airlines Reporter Meghna Maharishi. 

President Joe Biden recently signed a bill with a provision approving the new slots. Maharishi reports the slots have to be allocated within 60 days of the act becoming law. 

American Airlines had already announced a partnership with San Antonio International Airport to launch flights between the city and Reagan National. In addition, Alaska Airlines plans to apply for flights between San Diego and the airport. San Diego is currently the largest market without nonstop service to Reagan National.  

Presenter/Producer: Jose Marmolejos

The Daily Newsletter

Our daily coverage of the global travel industry. Written by editors and analysts from across Skift’s brands.

Have a confidential tip for Skift? Get in touch

Tags: egypt , el salvador , four seasons , indonesia , skift podcast

Photo credit: A cyclist ridging through Tirana, Albania. Alexandr Bormotin / Unsplash

We've detected unusual activity from your computer network

To continue, please click the box below to let us know you're not a robot.

Why did this happen?

Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy .

For inquiries related to this message please contact our support team and provide the reference ID below.

  • Travel, Tourism & Hospitality ›

Leisure Travel

Travel and tourism in Russia - statistics & facts

Covid-19 impact on russians' travel destinations, impact of the war in ukraine on tourism in russia, key insights.

Detailed statistics

Travel and tourism's total contribution to GDP in Russia 2019-2023

Travel and tourism's total contribution to employment in Russia 2019-2023

Tourism spending in Russia 2019-2022, by travel purpose

Editor’s Picks Current statistics on this topic

Destinations

Leading outbound travel destinations in Russia 2021-2022

Number of outbound tourism trips from Russia 2014-2022

Leading source markets for travel to Russia 2020-2022, by arrivals

Further recommended statistics

  • Premium Statistic Countries with the highest outbound tourism expenditure worldwide 2019-2022
  • Premium Statistic Travel industry revenue distribution in Russia 2022, by segment
  • Premium Statistic Tourism spending in Russia 2019-2022, by travel purpose
  • Basic Statistic Travel and tourism's total contribution to GDP in Russia 2019-2023
  • Basic Statistic Travel and tourism's total contribution to employment in Russia 2019-2023

Countries with the highest outbound tourism expenditure worldwide 2019-2022

Countries with the highest outbound tourism expenditure worldwide from 2019 to 2022 (in billion U.S. dollars)

Travel industry revenue distribution in Russia 2022, by segment

Distribution of travel industry revenue in Russia in 2022, by segment

Travel and tourism spending in Russia from 2019 to 2022, by purpose (in billion U.S. dollars)

Travel and tourism's total contribution to GDP in Russia 2019-2023

Total contribution of travel and tourism to gross domestic product (GDP) in Russia from 2019 to 2023 (in billion Russian rubles)

Travel and tourism's total contribution to employment in Russia 2019-2023

Total contribution of travel and tourism to employment in Russia from 2019 to 2023 (in million jobs)

Outbound tourism

  • Basic Statistic Outbound travel expenditure in Russia 2011-2022
  • Premium Statistic Number of outbound tourism trips from Russia 2014-2022
  • Premium Statistic Leading outbound travel destinations in Russia 2021-2022
  • Premium Statistic Number of outbound tourists from Russia 2022, by territory
  • Premium Statistic Outbound tourist flow growth in Russia 2022, by destination
  • Premium Statistic European Union (EU) Schengen visas issued in Russia 2010-2021

Outbound travel expenditure in Russia 2011-2022

Outbound travel expenditure in Russia from 2011 to 2022 (in billion U.S. dollars)

Number of outbound tourism trips from Russia from 2014 to 2022 (in 1,000s)

Number of outbound travel visits from Russia from 2021 to 2022, by destination (in 1,000s)

Number of outbound tourists from Russia 2022, by territory

Number of Russians travelling abroad with tourism purposes in 2022, by territory (in 1,000s)

Outbound tourist flow growth in Russia 2022, by destination

Growth in outbound travelers with tourism purposes from Russia in 2022 compared to 2019, by selected destination

European Union (EU) Schengen visas issued in Russia 2010-2021

Number of Schengen Area visas issued from applications to consulates in Russia from 2010 to 2021*

Inbound and domestic tourism

  • Basic Statistic International tourism spending in Russia 2011-2022
  • Premium Statistic Leading source markets for travel to Russia 2020-2022, by arrivals
  • Basic Statistic Domestic travel spending in Russia 2019-2022
  • Basic Statistic Number of nature protected areas in Russia 2015-2022, by type
  • Premium Statistic Estimated demand for inbound tourism in Russia Q1 2014-Q3 2023
  • Premium Statistic Inbound tourist flow growth in Russia 2020-2023
  • Premium Statistic Number of inbound tourist arrivals in Russia 2014-2022

International tourism spending in Russia 2011-2022

Spending of international tourists in Russia from 2011 to 2022 (in billion U.S. dollars)

Leading inbound tourism markets visiting Russia from 2020 to 2022, by number of trips (in 1,000s)

Domestic travel spending in Russia 2019-2022

Domestic tourism expenditure in Russia from 2019 to 2022 (in billion U.S. dollars)

Number of nature protected areas in Russia 2015-2022, by type

Number of nature conservation areas in Russia from 2015 to 2022, by type

Estimated demand for inbound tourism in Russia Q1 2014-Q3 2023

Estimated balance of demand for inbound tourism in Russia from 1st quarter 2014 to 3rd quarter 2023

Inbound tourist flow growth in Russia 2020-2023

Year-over-year growth in inbound tourism trips with tourism purposes in Russia from 2020 to 2023

Number of inbound tourist arrivals in Russia 2014-2022

Number of inbound tourism visits to Russia from 2014 to 2022 (in 1,000s)

Travel companies

  • Premium Statistic Travel industry organizations distribution in Russia 2022, by segment
  • Premium Statistic Number of tourism companies in Russia 2010-2022
  • Premium Statistic Most popular travel websites in Russia 2023, by traffic

Travel industry organizations distribution in Russia 2022, by segment

Distribution of travel industry organizations in Russia in 2022, by segment

Number of tourism companies in Russia 2010-2022

Number of travel agencies and reservation service establishments in Russia from 2010 to 2022

Most popular travel websites in Russia 2023, by traffic

Leading travel and tourism websites in Russia in August 2023, by monthly visits (in millions)

Package tours

  • Premium Statistic Number of package tours sold in Russia 2014-2021, by type
  • Premium Statistic Value of package tours sold in Russia 2014-2022, by type
  • Premium Statistic Package tour cost in Russia 2014-2022, by type
  • Premium Statistic Most popular travel destinations on package tours in Russia 2022

Number of package tours sold in Russia 2014-2021, by type

Number of package tours sold in Russia from 2014 to 2021, by tourism type (in 1,000s)

Value of package tours sold in Russia 2014-2022, by type

Total value of package tours sold in Russia from 2014 to 2022, by tourism type (in billion Russian rubles)

Package tour cost in Russia 2014-2022, by type

Average cost of a package tour in Russia from 2014 to 2022, by tourism type (in 1,000 Russian rubles)

Most popular travel destinations on package tours in Russia 2022

Number of outbound tourists sent on tours by travel agencies in Russia in 2022, by destination (in 1,000s)

Transportation

  • Premium Statistic Number of domestic airline passengers in Russia monthly 2020-2022
  • Premium Statistic Passenger traffic growth of airlines in Russia 2021
  • Premium Statistic Travel transportation consumer price in Russia 2022, by type

Number of domestic airline passengers in Russia monthly 2020-2022

Number of passengers boarded by domestic airlines in Russia from January 2020 to May 2022 (in millions)

Passenger traffic growth of airlines in Russia 2021

Year-over-year growth rate in air passengers in Russia in 2021, by carrier

Travel transportation consumer price in Russia 2022, by type

Average consumer price of travel transportation in Russia in 2022, by type (in Russian rubles)

Accommodation

  • Basic Statistic Paid travel accommodation services value in Russia 2015-2022
  • Premium Statistic Travel accommodation establishments in Russia 2022, by federal district
  • Basic Statistic Total room area in travel accommodation in Russia 2013-2022
  • Premium Statistic Number of visitors in hotels in Russia 2010-2022
  • Basic Statistic Number of hotel visitors in Russia 2022, by travel purpose
  • Premium Statistic Overnight accommodation cost in Moscow monthly 2020-2023
  • Premium Statistic Hotel occupancy rate in Moscow 2023, by segment
  • Premium Statistic Average daily hotel rate in Moscow 2023, by segment

Paid travel accommodation services value in Russia 2015-2022

Value of paid services provided by travel accommodation establishments in Russia from 2015 to 2022 (in billion Russian rubles)

Travel accommodation establishments in Russia 2022, by federal district

Number of collective accommodation establishments in Russia in 2022, by federal district

Total room area in travel accommodation in Russia 2013-2022

Total area of rooms in travel accommodation establishments in Russia from 2013 to 2022 (in 1,000 square meters)

Number of visitors in hotels in Russia 2010-2022

Number of visitors in hotels and similar accommodation establishments in Russia from 2010 to 2022 (in 1,000s)

Number of hotel visitors in Russia 2022, by travel purpose

Number of visitors in hotels and similar accommodation establishments in Russia in 2022, by purpose of travel (in 1,000s)

Overnight accommodation cost in Moscow monthly 2020-2023

Average cost of overnight accommodation in Moscow from May 2020 to September 2023 (in euros)

Hotel occupancy rate in Moscow 2023, by segment

Occupancy rate of quality hotels in Moscow from January to March 2023, by segment

Average daily hotel rate in Moscow 2023, by segment

Average daily rate (ADR) in hotels in Moscow from January to March 2023, by segment (in Russian rubles)

Travel behavior

  • Premium Statistic Reasons to not travel long-haul in Russia 2022
  • Premium Statistic Intention to travel to Europe in Russia 2019-2022
  • Basic Statistic Summer vacation plans of Russians 2012-2023
  • Premium Statistic Travel frequency for private purposes in Russia 2023
  • Basic Statistic Average holiday spend per person in Russia 2011-2023
  • Premium Statistic Attitudes towards traveling in Russia 2023
  • Premium Statistic Travel product online bookings in Russia 2023

Reasons to not travel long-haul in Russia 2022

Main reasons for avoiding travel outside the Commonwealth of Independent States (CIS) in Russia from September to December 2022

Intention to travel to Europe in Russia 2019-2022

Index of intention to travel to Europe from Russia from January 2019 to December 2022 (in points)

Summer vacation plans of Russians 2012-2023

Where do you plan to spend your vacation this summer?

Travel frequency for private purposes in Russia 2023

Travel frequency for private purposes in Russia as of March 2023

Average holiday spend per person in Russia 2011-2023

How much money did you spend per person on holidays this summer? (in Russian rubles)

Attitudes towards traveling in Russia 2023

Attitudes towards traveling in Russia as of March 2023

Travel product online bookings in Russia 2023

Travel product online bookings in Russia as of March 2023

Further reports

Get the best reports to understand your industry.

  • Travel and tourism in Europe
  • Travel and tourism in Turkey

Mon - Fri, 9am - 6pm (EST)

Mon - Fri, 9am - 5pm (SGT)

Mon - Fri, 10:00am - 6:00pm (JST)

Mon - Fri, 9:30am - 5pm (GMT)

Advertisement

Supported by

Why Is Car Insurance So Expensive?

Soaring premiums have become a prominent driver of inflation, and insurers say that more increases could be on the way. How did it get like this?

  • Share full article

A steady stream of cars drive on a two-way highway that has three lanes on each side.

By Emily Flitter

If your car broke down two years ago, it probably became a bigger problem than you bargained for.

A confluence of forces were to blame: The Covid pandemic disrupted supply chains, pushing used car prices to record highs and making spare parts hard to get; out-of-practice drivers emerging from lockdowns caused more severe wrecks; and technological advancements like motion sensors made even the simplest parts, like a fender or a rim, expensive to replace .

Things have since improved for car owners — except when it comes to insurance bills. Car insurers are still raising prices steeply: The price of motor vehicle insurance rose more than 22 percent in the year through April, the fastest pace since the 1970s, according to a report the Bureau of Labor Statistics on Wednesday. According to calculations by the Insurance Information Institute, a trade group, the average 12-month premium for car insurance was $1,280 in 2023, the industry’s most recent figures.

That has made car insurance a prominent factor preventing overall inflation from cooling more quickly, which could force the Federal Reserve to keep interest rates higher for longer even as the prices for many other essential goods and services have slowed.

Geico recently reported a big jump in quarterly profit on higher premiums and lower customer claims. The share prices of other big auto insurers, like Allstate and Progressive, have beaten the rise in the overall market this year.

That has attracted scrutiny from economists . A key reason car insurance costs are rising so fast right now has to do with how the industry is regulated.

How does insurance regulation work?

Insurers are regulated by the states, not the federal government. In all 50 states, insurance companies must follow specific rules about how and when they can raise the price on their policies.

Each state’s laws are broadly similar, and require insurers to ask regulators for permission to raise prices. Insurers have to make a case — with data to back it up — that the increase is necessary and that they will not make too large a profit on the re-priced policies. This application, known in the business as a “rate filing,” involves complicated paperwork that may take weeks or months to resolve.

The data has to include an analysis of loss trends from the past couple of years, as well as projections for replacement costs and profits. If insurers are deemed to profit too heavily, regulators can make them return money to customers.

The threat of returning money is not an idle one. At the height of pandemic lockdowns in 2020, when many cars sat idle, insurers returned almost $13 billion to customers through dividends, refund checks and premium reductions for policy renewals, according to the insurance ratings agency AM Best.

California was one of the most active states: Insurers there returned $3.2 billion to customers in 2020.

Ricardo Lara, the state’s insurance commissioner, “directed the department to do a very close analysis to make sure that drivers weren’t overcharged,” said Michael Soller, a spokesman for the California Department of Insurance. But starting in late 2021, the state became the poster child for a new problem: an epic backlog of insurers’ requests to raise prices.

How a massive paperwork jam explains rising prices.

When the pandemic shut down most economic activity, it messed up insurers’ ability to use the past to predict the future. For months, they were frozen. They did not submit new rate filings to regulators for a spell — until they did, all at once, in the second half of 2021.

The prices of cars and parts were jumping and drivers were back on the roads and crashing left and right after a hiatus behind the wheel.

“You went from this period of incredible profitability to incredible losses in the blink of an eye,” said Tim Zawacki, an analyst who focuses on insurance at S&P Global Market Intelligence. No companies were willing to stick their necks out by offering lower premiums in the hope of winning new business, he said.

“Everyone was together in significantly pushing for rate increases.”

In California, the most populous U.S. state, insurers were getting creamed by expensive claims.

But the state’s regulator did not start approving insurers’ requests to raise rates until near the end of 2022. The backlog grew so large that the average wait time for approvals was longer — by several months — than the six-month policies that insurers wanted to sell.

“When state regulators delay or prevent companies from accurately pricing insurance, insurers may not be able to absorb the costs,” said Neil Alldredge, the president of the National Association of Mutual Insurance Companies, a trade group that represents many home and auto insurers. The squeeze can lead insurers to leave some states or stop some business lines, he added. “Inefficient regulatory environments in states like California, New Jersey and New York, combined with inflation and increased catastrophic losses, have left consumers with fewer choices of insurers and higher costs,” he said.

California is still the slowest state in the continental United States for auto insurance rate filings, taking an average of 219 days to approve a price proposal for a personal auto policy, according to S&P data provided by Mr. Zawacki.

“We fight for consumers by analyzing all of the data, not just what insurance companies spoon-feed us,” Mr. Soller, the California Department of Insurance spokesman, said.

The S&P analysis showed that New Jersey, the 11th-most populous state, had the sixth-longest wait time, while New York, with the fourth-largest population, had the 7th-longest wait times.

“The department performs a comprehensive review of requests to amend rates or rating systems to ensure compliance with New Jersey law,” said Dawn Thomas, a spokeswoman for the New Jersey Department of Banking and Insurance.

Ms. Thomas said the regulator needed to ensure that each proposed premium increase was “reasonable, adequate, and not unfairly discriminatory,” and that sometimes the insurers’ requests needed to be challenged or denied.

A spokeswoman for New York’s regulator declined to comment.

When will the jam clear?

Shortly before the pandemic, the umbrella organization for state insurance regulators, the National Association of Insurance Commissioners, formed a team of data scientists to help regulators deal with their rate filings, which has gotten more complicated in recent years.

The data team became fully operational in 2021 and its mission is now to help speed up the review process: 37 states have signed up to use it.

This month, during a call with analysts to discuss Allstate’s earnings, company representatives said they had recently reopened their California auto insurance business after getting permission to charge higher rates. The company still wanted to raise prices in other states.

In New York and New Jersey, for example, “even with the rate approvals that we got late last year, we still don’t feel like we’re at the appropriate rate level to want to grow in those two states,” said Mario Rizzo, the president of Allstate’s property-casualty business.

How much higher will premiums go?

In 2021, insurers’ personal auto businesses started recording losses. According to David Blades, an analyst for AM Best, the industry lost $4 billion in 2021, $33 billion in 2022 and roughly $17 billion last year.

According to Dale Porfilio, the chief insurance officer at the Insurance Information Institute, the trade group, many companies still need to raise prices to make up for those bad years.

Last year, insurers raised auto premiums by 14 percent, the biggest increase in over 15 years. Mr. Porfilio’s best guess is that premiums this year will rise another 13 percent.

“It’s going to take time for every company to get their rates to where they want to be,” he said.

Emily Flitter writes about finance and how it impacts society. More about Emily Flitter

COMMENTS

  1. 20 Largest Travel Companies In The World

    With a presence in more than 190 countries, the company provides software solutions for the global travel and tourism industry. As of March 9, 2024, Amadeus IT Group S.A. (BME:AMS) has a market ...

  2. The Top 20 Most Powerful Travel Agencies in 2022

    9. Internova Travel Group. 13/21. Internova Travel Group, a privately held company, remains in the top 10 for 2022 after reporting $2.5 billion in sales in 2021. The company's subsidiaries include the likes of Travel Leaders Group, Cruise Specialists and Nexion Travel Group, among others. 8.

  3. The 10 most innovative travel companies of 2021

    The 10 most innovative travel companies of 2021. From Airbnb and Hipcamp to Delta Airlines and Ennismore hotels, these 10 travel companies found reasons to be optimistic in an unprecedented year ...

  4. Top 10 Travel Companies in the World by Sales in 2020

    Ranking 7 th on BizVibe's list of the top 10 travel companies in the world is the Travel Leaders Group, a multi-unit travel industry company headquartered in New York City that has more than 7,000 company-owned, franchised and affiliated travel agency locations in the United States, Canada, the United Kingdom, and Mexico. The company has more ...

  5. Top Travel Companies 2024

    American Express Global Business (Amex GBT) is the world's leading B2B travel platform, providing software and services to manage travel, expenses, meetings & events for companies of all sizes. Our solutions include: Egencia: the leading software as service travel platform for small and medium-sized enterprises (SMEs).

  6. The 10 most innovative travel and hospitality companies of 2023

    The best travel companies of 2023 are anticipating the changing desires of travelers. After what cofounder and CEO Brian Chesky calls a "near-death business experience" in 2020, Airbnb had its ...

  7. The 10 Most Trusted Travel and Hospitality Brands

    The most powerful travel agency in 2021 also owns one of the industry's most trusted brands. Expedia is the lone online travel company in the top 10, edging out 11th-ranked TripAdvisor, according to Morning Consult's research.

  8. Top Companies 2022: Travel & Hospitality

    LinkedIn's Top Companies in Travel & Hospitality ranks the 25 best companies to grow a career in the industry. Backed by unique LinkedIn data measuring different elements of career progression ...

  9. Leading travel companies by sales worldwide 2022

    Published by Statista Research Department , Jul 25, 2023. In 2022, Booking Holdings, whose brands include Booking.com, Priceline, Agoda, and Kayak, was the travel company with the highest gross ...

  10. Top 100 companies worldwide: Travel & Tourism

    Reasons to buy. This Company Insights data table shows essential KPIs of the world's leading companies in the travel & tourism industry, ranking them by overall revenue, and includes household ...

  11. The 10 most innovative travel companies of 2022

    Why Hopper, Atlys, Deem, Life House, and the Indigenous Tourism Association of Canada are among the most exciting travel companies of the year. Explore the full 2022 list of Fast Company's Most ...

  12. Travel, Airline, & Hospitality Consulting Services

    Discover new destinations with Travel. The travel industry is no stranger to disruption. And in the post-pandemic world, travel companies must continuously reinvent to outwit unforeseen circumstances, while providing cohesive, elevated experiences for customers.

  13. The future of the travel industry: Make it better, not just safer

    This desire to build memories, to connect with people, and to see new places drove 1.4 billion of us to travel internationally in 2019. 1 Creating safer travel experiences is now paramount to protect this privilege. Now is clearly a moment of crisis for the travel industry. Available seat miles on US airlines were down 71 percent in April 2020 ...

  14. TUI Group

    As one of the world's leading tourism groups, TUI believes that our work should reflect the fun, excitement and adventure of travel. For more than 19 million customers TUI Group offers all services under one roof with leading tour operator brands, 1,200 travel agencies, online portals, airlines and incoming services.

  15. Largest travel companies by market cap

    Allegiant Air. ALGT. $0.96 B. $52.98. 3.25%. 🇺🇸 USA. This is the list of the largest travel companies by market capitalization. Only the top travel companies are shown in this list and travel companies that are not publicly traded are excluded. The ranking and the market cap data shown on this page are updated daily.

  16. Global tourism industry

    In 2022, the global online travel market amounted to as much as 474.8 billion U.S. dollars, a figure that was forecast to exceed one trillion U.S. dollars by 2030. Some of the leading travel ...

  17. Funding for travel startups

    Travel companies raised $7.8 billion in investment through 389 rounds. Non-travel companies: Despite not being in the tourism sector, these companies raised more money ($12.5 billion) in 264 rounds than their travel-industry counterparts. Overall, VCs have been the leading investor category, and spent nine times more than travel companies in 2021.

  18. These Are the Best Travel Companies to Work For

    According to Fortune 's list of "100 Best Companies," Hilton skyrocketed to become the best company to work for in 2019. Last year, the company was only ranked 33rd on the list. The hotel ...

  19. The Future of Success in the Travel Business

    Travel industry leaders deploy advanced analytics and AI throughout the travel value chain. By optimizing their supply chain and offering hyper-personalization, these bionic companies successfully combine human and advanced technology capabilities, gaining a competitive advantage that can take a variety of forms.

  20. 18 Companies & Startups Revitalizing Travel in 2024

    In 2023, global tourism recovered, jumping back to 84% of pre-pandemic levels. However, the industry as a whole isn't expected to recover until 2027. Despite that, some travel startups are still growing exponentially. Check out this list of companies that are looking to revitalize the travel industry in 2024 and beyond. 1. TravelPerk

  21. The Future of the Airline Industry After COVID-19

    It's difficult to overstate just how much the COVID-19 pandemic has devastated airlines. In 2020, industry revenues totaled $328 billion, around 40 percent of the previous year's. In nominal terms, that's the same as in 2000. The sector is expected to be smaller for years to come; we project traffic won't return to 2019 levels before 2024.

  22. The top 7 best travel agency software in 2024

    4. Dolphin Dynamics. Dolphin Dynamics is a travel technology company that provides a suite of software modules for TMCs, leisure agents, travel agencies, tour operators, and other travel businesses. The product range includes booking, customer, and reservation management tools as well as accounting and reporting features.

  23. Hospitality and travel companies finally see a rebound

    Four companies in this year's Fast 50 are in hospitality and travel: AE Events, Atlas Travel & Technology Group, Boston Catering & Events and LaFrance Hospitality. All at least doubled their ...

  24. How to build a great team for an online travel agency in an emerging

    Recruiting, motivating and retaining good people is the number one key success factor in building a technology company, particularly in the online travel industry. In an OTA, the most critical skills required fall into three broad categories: engineering, marketing and supply acquisition. Engineering is the most important of the three because ...

  25. These are the top 10 countries for travel and tourism

    Europe dominates the top 10 economies for T&T, as ranked by the 2023 index, although the top spot is clinched by the US. The US has retained its top spot as the best economy for travel and tourism. Image: World Economic Forum. But the index also shows that while 71 of the 119 economies it ranks improved their scores between 2019 and 2023, the ...

  26. 5 Countries With Booming Tourism Industries

    Email*. Habtemariam and O'Neill highlight Albania, Indonesia, Egypt, Tanzania, and El Salvador. In particular, Albania has seen a 141% increase in daily flight traffic since 2019. Meanwhile ...

  27. New York City's Tourists Fuel Record $4.9 Billion in Tax Revenue

    New York City's tax revenue generated by tourists has surpassed pre-pandemic levels as a jump in US visitors helped offset a drop in international and business travel. Last year 62.2 million ...

  28. Travel and tourism in Russia

    Premium Statistic Travel industry revenue distribution in Russia 2022, by segment ... Number of tourism companies in Russia 2010-2022.

  29. Pullman-Moscow Regional Airports new terminal now open and operating

    Spokane, WA (99201) Today. Showers early, then cloudy in the afternoon. High 57F. Winds SW at 5 to 10 mph. Chance of rain 60%..

  30. Why Is Car Insurance So Expensive?

    According to calculations by the Insurance Information Institute, a trade group, the average 12-month premium for car insurance was $1,280 in 2023, the industry's most recent figures.