travel tech insights

5 Stats That Paint A Bright Future for Travel Agents

132,00. That’s how many travel agents were in operation in the United States in 1990, according to the U.S. Bureau of Labor Statistics (BLS). By 2014, that number had dwindled by half to about 71,000 and the projections for the next ten years indicate a continued decline by about 12 percent. On the surface, these statistics would seem to spell doom for traditional travel agents who are facing increasingly intense competition from online travel agencies, development of new technologies like mobile apps, and other user-driven sites like AirBnB.

Yet, these stats don’t fully represent the value and potential for growth travel agents pose within today’s global travel industry. With today’s modern traveler placing a greater emphasis on unique travel experiences, individually curated tours and activities, and a person-to-person connection in researching and completing travel bookings, traditional travel agents are actually uniquely positioned to expand their footprint and reach more customers than ever before.

Topics: online travel agency travel agents travel agencies

5 Ways Online Travel Agencies Can Increase Bookings

It’s a trend you see all too frequently in today’s global travel industry: a traveler lands at an online travel agency’s website with the intent to complete a booking, but then leaves the site empty-handed. This can happen for any number of reasons, but the result is the same regardless: the traveler is unfulfilled by their digital interaction with the OTA, and the OTA misses an opportunity to forge a potentially long-term relationship with the customer.

It’s a problem many OTAs face in today’s travel industry, especially as online and mobile capabilities become cheaper to source and easier to deploy. The expectation that an OTA will operate a robust online travel booking platform is also putting pressure on OTAs to leverage fast, powerful web-based resources travelers can access 24/7 across any number of applications or contexts, be it laptops, smartphones, mobile devices, and more.

Topics: online travel agency Mobile Bookings online travel OTAs Travel bookings

From Then to Now, Part II: The Travel Industry's Major Players

In the first entry of our series on the evolution of the travel industry since 2002, we looked at the traveler and how their needs, desires, tools, and buying behaviors have shifted during the last 14 years. We examined how advances in personal and industry technology have made it easier than ever for travelers to become an integral part of the travel industry rather than just observers watching from the sidelines.

Today’s entry, the second in our three-part series, will focus on the major industry players, their history, evolution, and impact on the global travel industry. The companies and organizations we’ve chosen to highlight have in one way or another made significant contributions to the growth and development of the industry and have left an important mark on how the travel industry operates today.

The beginning of the 21st Century was without a doubt an influential moment in the travel industry. With the rise in popularity of the internet, global, electronic delivery of services, products, and operational functions were becoming more and more the norm. GDS companies, OTAs, and other online-based suppliers and retailers began launching more customer-oriented services such as price comparison interfaces, digital trip planning tool, and electronic tickets and documentation to streamline processes and create more efficient, agile value chains.

Topics: travel company online travel agency online travel Online booking systems Travel suppliers Travel history

5 Myths About the Role of Online Travel Agencies

Ever since they rose to prominence, there has always been misinformation about the role and value of online travel agencies (OTAs). OTAs were initially viewed a short-cut to increased profit margins and growth without really adding value to the travel and tourism industry. However, with the rise in online bookings, social media, and mobile technology, OTAs have established themselves as a benchmark for how online travel companies can and should operate in today’s global travel marketplace.

Yet even as OTAs have solidified their standing in the travel industry, many myths still exist about how they function, the value they provide to customers, and their place as a key driver in the evolution of the modern travel industry. Some of these myths stem from simple misunderstandings about the role of OTAs in the e-commerce sector of the industry, while others are based on trends within the industry that drive popular thought - for example, how in recent years millennials have turned to brick-and-mortar travel agents because they desire a one-on-one, personal connection in making their travel plans.

Topics: online travel agency travel trends online travel OTAs

Getting Your Products Out There: Technology, OTAs, and Distribution

Talk to OTAs across the globe about their highest priority concern and you’ll hear the same thing again and again: Distribution. In an increasingly competitive, global industry, the ability of an OTA to sell and distribute services quickly without error is critical to driving growth and maintaining a competitive advantage over other OTAs and brick-and-mortar travel agencies.

But how can OTAs best achieve this? What kinds of software solutions must OTAs leverage to succeed in creating an efficient value chain? These are the questions OTAs must address in getting the most value out of their distribution strategies and providing the best customer service to travelers.

Topics: online travel agency Travel Distribution Channels Online booking systems OTAs B2C