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Travel Agency Services Market to Grow by USD 156.7 Billion (2024-2028) as International Tourism Rises, How AI is Transforming the Industry – Technavio Report

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NEW YORK, Sept. 2, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global travel agency services market size is estimated to grow by USD 156.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.6% during the forecast period. Increasing international tourist footfalls is driving market growth, with a trend towards increasing use of technologically advanced travel solutions. However, growing threat from rising terrorist activities poses a challenge. Key market players include Abercrombie and Kent USA LLC, American Express Co., BCD Group, Booking Holdings Inc., China tourism group, Corporate Travel Management Ltd., CWT BV, eDreams ODIGEO, Expedia Group Inc., Flight Centre Travel Group Ltd., Kesari Tours Pvt. Ltd., MakeMyTrip Ltd., Services International Ltd., The Travel Corp, Thomas Cook India Ltd., Trafalgar, Trip.com Group Ltd., TripAdvisor Inc., TUI AG, and Yatra Online Inc..

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Travel Agency Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

–

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.6%

Market growth 2024-2028

USD 156.7 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

14.53

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 32%

Key countries

US, China, UK, Germany, and Japan

Key companies profiled

Abercrombie and Kent USA LLC, American Express Co., BCD Group, Booking Holdings Inc., China tourism group, Corporate Travel Management Ltd., CWT Global BV, eDreams ODIGEO, Expedia Group Inc., Flight Centre Travel Group Ltd., Kesari Tours Pvt. Ltd., MakeMyTrip Ltd., Services International Ltd., The Travel Corp, Thomas Cook India Ltd., Trafalgar, Trip.com Group Ltd., TripAdvisor Inc., TUI AG, and Yatra Online Inc.

Market Driver

The Travel Agency Services Market involves providing customers with various services related to booking and planning their trips. These services include flight reservations, hotel bookings, vacation packages, and tour arrangements. Travel agencies facilitate customers by offering competitive prices, convenient payment options, and personalized travel recommendations. They help simplify the travel planning process and ensure a seamless experience for their clients. Effective customer service and efficient operations are key to success in this market.

Travel agency services continue to evolve, focusing on additional offerings beyond flights, hotels, and car hire for both leisure and business travelers. AI and machine learning algorithms enhance personalized itineraries and ticket booking. Domestic and international travelers, including independent and package travelers, benefit from travel planning, accommodation booking, and transportation arrangements. Visa assistance, travel insurance, and personalized itineraries are increasingly popular. Online booking and phone booking options cater to diverse preferences. Airlines and online travel agencies offer direct booking options for global connectivity. Middle-class population growth fuels demand. Sustainable travel practices, eco-friendly tourism, and local community engagement are trends. Digital marketing, smartphone, and tablet applications streamline booking processes. Operational safety, employee safety, and civil construction activities, including dams, bridges, and tunnels, ensure travel experiences are safe and efficient. IoT and social networking sites facilitate real-time updates and communication.

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Market Challenges

The Travel Agency Services Market caters to customers seeking convenient and customized travel solutions. Agencies offer various services such as flight bookings, hotel reservations, tour packages, and visa assistance. They ensure a seamless travel experience by handling all travel-related arrangements. Agencies maintain strong relationships with suppliers to secure competitive prices and provide additional perks for their clients. Their expertise and industry knowledge enable them to offer valuable insights and recommendations.Travel agency services face several challenges in today’s market. Independent travelers prefer self-planning, while package travelers seek convenience. Travel planning, ticketing, accommodation booking, and transportation arrangements are essential services, but visa assistance, travel insurance, personalized itineraries, and customer support set agencies apart. Airlines and online travel agencies offer direct booking options, making competition fierce. Global connectivity, middle-class population growth, and sustainable travel practices are trends shaping the industry. Eco-friendly tourism and local community engagement are key to long-term success. Digital marketing, smartphone, and tablet applications are essential tools. Geoscientists, engineers, and operational safety experts ensure civil construction activities like dams, bridges, and tunnels are safe. IoT, social networking sites, and adventure tourism cater to diverse traveler needs. Millennial generation preferences and online booking channels continue to disrupt the market. Safety, both for employees and travelers, remains a top priority.

For more insights on driver and challenges – Request a sample report!

Segment Overview

This travel agency services market report extensively covers market segmentation by

Type1.1 Leisure travel1.2 Business travel1.3 Specialty travelDistribution Channel2.1 Online travel agencies2.2 Hybrid2.3 Brick and mortar travel agenciesGeography3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Leisure travel- The leisure travel market is experiencing significant growth due to several factors. Increased disposable income among consumers enables them to invest in travel and discover new destinations. The importance of work-life balance drives individuals to take regular vacations for relaxation. Modern travelers prioritize experiences over material possessions, leading them to seek unique and memorable leisure activities. Easy access to information and social media platforms inspires travelers to explore new destinations. Health-conscious individuals are drawn to wellness and spa tourism, while cultural explorers seek destinations rich in heritage and traditions. Adventurous travelers are motivated by adrenaline-pumping activities, and celebratory events mark important milestones with memorable trips. Improvements in transportation infrastructure, accessibility, and visa processes make global travel more accessible. Seasons and cultural events influence travel choices, and budget-friendly accommodations and deals make leisure travel affordable for many. For instance, Yatra Online’s The Big EMI Fest offers lucrative value-added services during the festive travel season. These factors are expected to fuel the growth of the leisure travel segment in the global travel agency services market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Travel Agency Services Market caters to the diverse needs of various traveler segments, including leisure tourists, business travelers, and adventurers. AI and machine learning algorithms are revolutionizing the industry by providing personalized itineraries and seamless booking experiences. Travel agencies offer additional services such as flights, hotels, car hire, visa assistance, travel insurance, and transportation arrangements. Online booking and phone booking options ensure global connectivity, while direct booking options provide convenience. Middle-class populations are driving growth in this market, and sustainable travel practices are gaining popularity. Airlines and online travel agencies are major players, providing a wide range of services from ticketing to accommodation booking. The industry continues to evolve, offering innovative solutions to meet the changing demands of travelers.

Market Research Overview

The Travel Agency Services Market caters to the diverse needs of various traveler segments, including leisure tourists, business travelers, and adventurers, offering additional services beyond flights, hotels, and car hire. AI and machine learning algorithms are revolutionizing the industry, enabling personalized itineraries, ticket booking, and accommodation reservations. Travel agencies facilitate domestic and international travel for independent and package travelers, providing visa assistance, travel insurance, and transportation arrangements. Airlines, online travel agencies, and direct booking options offer global connectivity, while sustainable travel practices and eco-friendly tourism gain popularity among the middle-class population. Adventure tourism, art tourism, and digital marketing through smartphone and tablet applications cater to the millennial generation. Geoscientists, engineers, and operational safety experts ensure the safety of civil construction activities, such as dams, bridges, and tunnels, while IoT and social networking sites expand travel opportunities.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeLeisure TravelBusiness TravelSpecialty TravelDistribution ChannelOnline Travel AgenciesHybridBrick And Mortar Travel AgenciesGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Crab2B Makes AsiaWorld-Expo Debut, Connecting Hong Kong’s Mobile Wholesalers with Global Buyers

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October 18, 2026

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HONG KONG, Oct. 18, 2026 /PRNewswire/ — Crab2B, a pioneering B2B trading platform dedicated to mobile devices and digital products, will make its debut at the HKICEC Global Mobile Exchange Pavilion during the Global Sources Hong Kong Shows, opening at AsiaWorld-Expo on October 18, 2026.

Hong Kong has long been a major hub for electronics wholesale trade, but buyers still often rely on fragmented channels to identify suppliers. Crab2B was created to bridge this gap, bringing Hong Kong-based mobile and digital product wholesalers together on one dedicated B2B platform. Headquartered in Hong Kong, Crab2B combines the manufacturing strength of mainland China and the Greater Bay Area’s extensive supply chain capabilities with Hong Kong’s established global trading network. Together, these strengths enable Crab2B to simplify cross-border sourcing, connect buyers directly with suppliers and make international trade more accessible and efficient.

For its first appearance at a major industry trade show, Crab2B is bringing together more than 200 merchants already registered on the platform, marking a significant milestone in its development. The Crab2B booth is expected to attract electronics traders from Southeast Asia, Europe, the Middle East and beyond. Visitors will be able to discover the app’s capabilities through live demonstrations, register on the platform and connect directly with participating merchants to explore business opportunities.

A buyer who experienced the Crab2B app shared: “With Crab2B, we no longer have to search far and wide for reliable suppliers. The platform brings Hong Kong’s mobile phone wholesalers together in one place, giving us greater visibility into available products and sourcing opportunities. Whether I’m at my desk or on the move, I can find products and connect with suppliers whenever I need to. For businesses like ours that source across borders, that kind of access makes a real difference. It saves time, reduces transaction costs and helps us do business more efficiently.”

Crab2B CEO Luo Yaohong said, “We want to be pioneers in cross-border B2B trading for digital products, creating new opportunities for Hong Kong’s wholesale industry. As Hong Kong places greater emphasis on developing digital trade, we’re addressing a longstanding gap in the market with a dedicated digital platform that connects Hong Kong’s electronics suppliers directly with buyers around the world. Our ambition is to make cross-border trading easier, faster and more accessible, while helping Hong Kong businesses reach new markets.”

The platform’s trade show debut is also attracting attention from international merchants, with exhibitors expressing interest in joining Crab2B to expand their reach into overseas markets. Meanwhile, merchants already registered on the platform are looking forward to the launch of its planned online marketplace, which will create further opportunities for sustained collaboration and business growth.

Building on this debut, Crab2B will remain firmly rooted in Hong Kong while expanding its connections with businesses around the world. The company will continue to enhance its platform with smarter sourcing tools, more comprehensive trading capabilities and an increasingly connected network of suppliers and buyers. By making it easier to discover products, establish business relationships and conduct cross-border transactions, Crab2B aims to open new opportunities for merchants of all sizes and help shape the next chapter of Hong Kong’s digital trade industry.

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SOURCE Crab2B

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Canton Fair Buyers Alliance Launched as the 140th Edition Opens

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7 hours ago

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October 18, 2026

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GUANGZHOU, China, Oct. 17, 2026 /PRNewswire/ — On October 15, the Canton Fair Buyers Alliance was officially launched at the Canton Fair Complex, marking a significant milestone as the fair celebrates the 70th anniversary of its founding.

More than 140 overseas buyers attended the launch ceremony, highlighting the fair’s enduring role as a bridge connecting global commerce with China’s export sector.

Speaking at the ceremony, Luís Vilariça, CEO of Joinco, Import & Export, Ltd., discussed his company’s long-standing relationship with the Canton Fair. Drawing on years of participation, he reflected on the growth opportunities created through cooperation with Chinese suppliers and highlighted the fair’s role in supporting international business development and global trade exchanges.

The ceremony also featured a joint declaration by alliance members. Representatives from five member companies read the statement in their respective native languages, underscoring the international character of the new organization. Additional members sent video congratulatory messages, joining the celebration and witnessing the official launch of the alliance.

The Canton Fair Buyers Alliance represents one of the fair’s key service innovations. Designed primarily for Fortune Global 500 companies, buyers from the world’s top 250 retailers and leading sourcing enterprises across a diverse range of markets, the alliance aims to offer members a platform for information sharing and resource coordination. The first cohort of alliance members includes 58 companies from 32 countries and regions across 5 continents. Through the alliance, members will gain access to a range of priority benefits spanning four major areas: services, events, resources and information.

 For more convenient attendance, please click here for pre-registration:

https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

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SOURCE Canton Fair

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Bioethanol from human hair – Indian start-up’s solution to rising prices of grains and sugar

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8 hours ago

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October 18, 2026

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GUJARAT, India, Oct. 17, 2026 /PRNewswire/ — In what could be called the beginning of the 5G (fifth-generation) of bioethanol or non-cellulosic bioethanol or non-sugar-based biofuels, an Indian start-up, Techofest Global, based out of Gujarat, has developed its own, indigenous, and patented technology for the production of bioethanol from waste human hair. Such processes would significantly reduce the employment of sugars, grains, and agricultural residues, which form the classical first- and second-generation bioethanol feedstocks. As a result, the rising fuel-vs.-food/fodder debate is anticipated to reduce, and instead, ethanol produced from municipal/industrial waste, after trials, can supplement the current supply being used as blends with presently retailed fossil fuels (E20, E27, etc.). 

As stated by Dr. Ravi, the founder-CEO of Techofest Global, the strategic priority and the USP of the start-up is industrial symbiosis, which, typically, involves an ecosystem of up-cycling/valorising the effluents of an industry, thereby creating a value-chain for residues often lacking an end-of-life. With more than three decades of experience in designing customized nuclear fusion reactors for international programmes, such as ITER, JET/UKAEA and SST-1, Dr. Ravi, a seasoned mechanical engineer, spearheads the start-up’s patented technologies’ scale-up and commercialization.

Two biochemical engineers, Dr. Navnit – the former CTO, and Dr. Kabilan – the former CEO of Biomakerz, Chennai, are the brains behind the current technology/process portfolio of the joint-venture between Techofest Global and Biomakerz. They have been working on biorefineries’ process intensification for more than a decade. “Having foreseen the fuel-vs-fodder/food competition as early as the year 2015, we began developing techno-economically feasible and viable in-vitro metabolically-engineered bioprocesses for scaling-up ethanol production from municipal waste streams between 2019–2021”, says Navnit. After developing operational technologies for international biofuel organizations, serving process engineer roles with certain biorefineries-related OMC R&D’s of India, Dr. Navnit, presently works for a premier academic institution.

An on-going fermentation trial at the Techofest Global-Biomakerz JV’s R&D facility

Techofest Global has developed and tested, in its R&D JV’s pilot-facility of ~100-L, 3 innovative and cost-effective technologies, such as 5G ethanol production using human hair, used cooking oil (UCO), and enriched bio-methane production from disposed sanitary napkins.

“With massive CapEx and OpEx, 2G ethanol technology is facing a major commercialization bottleneck, owing to competition with food/livestock fodder, requirement of a cost-intensive pre-treatment procedure, and the requirement of cellulolytic cocktails, which have a poor recycle efficiency. The proprietary 5G SAFE process developed for the start-up circumvents the mentioned constraints, and instead, utilizes a single-stage saccharification followed by fermentation, and records over 85–90% biocatalyst recovery. Likewise, the proprietary SIM process for bio-methane production, exclusively developed for the start-up, is 2x faster with improved intermittent feeding cycles and continuous gas harvest”, says Navnit.

“With on-going pre-commercialization trials, the proprietary ethanol and bio-methane processes of ours are soon being commercialized”, says Ms. Bhumika, the co-founder and the corporate advisor of the start-up. Furthermore, Mr. Ronak pilots the organization’s global market entry and commercialization frontier.

Techofest Global’s veteran Principal Technology Advisors include: Dr VS Tripathi, former Joint Director, DRDE Gwalior, Dr B S Munjal, former Director, Structures and Thermal group, SAC/ISRO, Academician and Advisor CIKS-Dharohar, GTU, and Dr AV Santhanababu, former Scientist at Satish Dhawan Space Centre. With on-going R&D activities, Dr. Munjal says, “the start-up is striving to provide a unique solution along the lines of the Atmanirbhar and Viksit Bharat Vision 2047”.

Media Contact: www.techofestglobal.com; e-mail: info@techofestglobal.com; contact person: The PR team of Techofest Global.

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