Connect with us

Technology

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

Published

on

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..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

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.

Explore a 360° Analysis of the Market: Unveil the Impact of AI. For complete insights- Request Sample!

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/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-302235940.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Ellucian Announces 2026 Impact Award Winners, Honoring Institutions Leading with Data, SaaS, and Student-First Innovation

Published

on

By

Key Highlights:

Ellucian recognized four institutions for innovative use of the company’s technology solutions to improve student outcomes and operational efficiency.Award winners demonstrated measurable impact through SaaS transformation, data-driven decision-making, and student-first digital experiences.Each winning institution will receive $25,000 USD to support continued innovation and student success initiatives.

RESTON, Va., April 22, 2026 /PRNewswire/ — Ellucian, the leading higher education technology solutions provider, announced the winners of its eighth annual Impact Award at Ellucian Live, the industry’s premier technology conference. The annual Ellucian Impact Award Program celebrates visionary higher education institutions that are inspiring others to push the boundaries of technology and innovation. These institutions demonstrate the impactful use of Ellucian’s AI-powered platform and solutions to transform the student experience and institutional performance.

Recognizing Innovation that Transforms Higher Education

“Higher education is being redefined in real time, and this year’s Impact Award winners exemplify what it means to lead through change,” said Laura Ipsen, President and CEO, Ellucian. “These institutions are harnessing the full power of Ellucian’s AI-driven, SaaS-native solutions to break down barriers, unlock insights, and create more connected, student-centered experiences. Their work demonstrates how innovation, when grounded in purpose, can drive meaningful outcomes for students, faculty, staff, and communities worldwide.”

2026 Ellucian Impact Award-winning institutions will each receive a $25,000 USD award recognizing achievements across four categories, including Students First, Unlocking the Power of Data, Shaping the Future through SaaS, and Institutional Agility.

The 2026 Ellucian Impact Award Winners are:

Shaping the Future through SaaS

St. John’s University – Queens, N.Y.

St. John’s University earned recognition for its bold, institution-wide SaaS transformation through Project Genesis, modernizing core systems across student, finance, and HR on Ellucian’s SaaS-native platform. The university retired nearly 800 customizations, reduced support requests by 20%, and enabled faculty and staff to save 30–40% of their time through streamlined processes. Critical services are now significantly faster, with financial aid processing reduced from multiple days to one day and grade changes completed in about an hour instead of a full day. With 99.99% uptime and a more agile operating model, St. John’s is accelerating innovation while strengthening the experience for students, faculty, and staff.

Students First

Florida Polytechnic University – Lakeland, Fla.

Florida Polytechnic University was recognized for transforming the student experience with Ellucian solutions delivering a unified, student-first digital campus. The central workspace, MyFloridaPoly, is a single hub consolidating academic, administrative, and campus life resources. Streamlining access to essential tools and services reduced login barriers by 85%, increased mobile usage by 70%, and helped students save up to two hours per week. At the same time, the university retired more than 100 customizations and reduced infrastructure and licensing costs by 40%, creating a modern, scalable environment built around student success and continuous innovation.

Unlocking the Power of Data

Rend Lake College – Ina, Ill.

Rend Lake College earned recognition for using Ellucian Student powered by Colleague to transform a manual, paper-based state reporting process — collecting required student career and demographic data — into a fully automated, data-driven workflow. The institution expanded its data collection reach by 45%, increasing from 1,290 to more than 1,870 students, while boosting response rates by over 13%. Automation eliminated approximately two weeks of manual data entry, improving accuracy and freeing staff to focus on higher-value, student-centered support. The initiative also delivered measurable financial impact and supported a 5% enrollment growth, demonstrating how targeted data innovation can drive both operational efficiency and institutional outcomes.

Institutional Agility

American University of Beirut – Beirut, Lebanon

The American University of Beirut was recognized for its exceptional institutional agility, leveraging Ellucian solutions to sustain operations and expand global reach amid ongoing national crises. Through the launch of AUB Online and modernization of its digital ecosystem, the university increased its program portfolio to more than 30 offerings and generated $6 million in tuition revenue, with continued growth projected. At the same time, AUB unified access to services through Ellucian’s central workspace capability, simplifying the digital environment by 83% and increasing user adoption from 45% to 90%. Operational efficiency improved significantly, with 80% fewer support tickets, 20% faster registration processes, and a 40% reduction in IT costs — positioning the university to deliver resilient, scalable education to learners worldwide.

To learn more about Ellucian solutions, visit: https://www.ellucian.com/

WHAT IS ELLUCIAN
Ellucian powers innovation for higher education, partnering with approximately 3,000 customers across 50 countries, serving more than 21 million students. Ellucian’s AI-powered platform, trained on the richest dataset available in higher education, drives efficiency, personalized experiences, and strengthened engagement for all students, faculty and staff. Fueled by decades of experience with a singular focus on the unique needs of learning institutions, the Ellucian platform features best-in-class SaaS capabilities and delivers insights needed now and into the future. These solutions and services span the entire student lifecycle, including data-rich tools for student recruitment, enrolment, and retention to workforce analytics, fundraising, and alumni engagement. Ellucian’s innovative solutions, vast ecosystem of partners and user community of more than 45,000 provides best practices leading to greater institutional success and achieving better student outcomes.

Media Contacts
Greg Giangrande, Chief Marketing Officer
Greg.Giangrande@Ellucian.com

Jess Weston, Manager, Communications
Jess.Weston@Ellucian.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/ellucian-announces-2026-impact-award-winners-honoring-institutions-leading-with-data-saas-and-student-first-innovation-302749336.html

SOURCE Ellucian

Continue Reading

Technology

Bahamas Grid Company Appoints Two New Board Directors

Published

on

By

NASSAU, The Bahamas, April 22, 2026 /PRNewswire/ — Bahamas Grid Company (BGC) today announced the appointment of Nikolai Sawyer and Debra Symonette to its Board of Directors, effective April 20, 2026.

These appointments follow the company’s recent transition to a fully independent, Bahamian-led operating model, including the conclusion of Island Grid Solutions’ management role and the appointment of new executive leadership.

Mr. Sawyer is a senior financial attorney with over 20 years of experience across corporate law, banking, and financial services. He brings deep expertise in regulatory strategy, risk management, and corporate governance. 

Ms. Symonette is President and Director of Super Value Food Stores Limited and a Certified Public Accountant with over 25 years of financial leadership experience. She has held senior roles in accounting, audit, and corporate governance, and currently serves as a Director of Commonwealth Bank. 

“With these appointments, BGC continues to strengthen its governance as we move forward as a fully Bahamian-led organization,” said Anthony Ferguson, Chairman of BGC. “Nikolai and Debra bring extensive legal, financial, and operational experience that will support the company’s long-term performance and accountability.”

“This is an important step in BGC’s continued evolution,” said Dareo McKenzie, Chief Executive Officer. “I look forward to working with the Board to drive long-term performance and reliability across the system.”

The company’s Board of Directors now comprises Anthony Ferguson (Chairman), Nikolai Sawyer, and Debra Symonette.

About Bahamas Grid Company
Bahamas Grid Company (BGC) is a utility company in New Providence responsible for upgrading, maintaining, and operating the island’s transmission and distribution infrastructure, with the goal of delivering reliable, resilient, and sustainable power to all residents and businesses. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/bahamas-grid-company-appoints-two-new-board-directors-302750713.html

SOURCE Bahamas Grid Company

Continue Reading

Technology

Auburn’s College of Education embraces an AI-powered future to advance its mission

Published

on

By

AUBURN, Ala., April 22, 2026 /PRNewswire/ — As Artificial Intelligence (AI) becomes more integrated into daily life, Auburn University’s College of Education is sharpening its focus on this powerful tool and exploring how it can strengthen the preparation of future educators and healthcare workers.

Throughout the College of Education (and featured in the recent release of the college’s Keystone Magazine), artificial intelligence is being thoughtfully integrated across its four academic units, reflecting both the breadth of the college and a shared commitment to ethical, human-centered practice. Auburn College of Education Dean Jeffrey Fairbrother shared his perspective on how artificial intelligence aligns with the college’s vision for the future.

“In the College of Education, we’re committed to opening doors and improving lives, and artificial intelligence is an important door to opportunity,” he said. “I am proud of our faculty who are embracing AI to expand access, enhance learning and empower educators, always guided by ethics and integrity. By opening these doors today, we’re building a better future for all, far into the future.”

In the Department of Curriculum and Teaching, faculty are focused on teacher preparation and continuously improving methods of learning. Paul Fitchett, head of C&T, oversees several faculty members leading AI-focused initiatives, including some who are developing a course on the applied use of AI in the workplace that will come with industry credentialing.

“We are exploring AI through a number of different, applied facets,” Fitchett said. “Some individuals are leveraging AI to expand research capabilities while others are engaging AI to support teaching and learning, improving the educational experience for instructors and students alike.”

In Agricultural Education, Leadership and Communications, AI is treated as both a research tool and an object of study, with faculty developing a new AI course and even patent-pending technologies that support agriculture, Extension work and global food systems, always emphasizing the “expert in the loop” and transparency over blind automation. In Elementary Education, future teachers learn to use AI as a collaborative planning and efficiency tool, refining outputs through pedagogical expertise and deep knowledge of learners.

Margaret Flores, interim head of the Department of Special Education, Rehabilitation, and Counseling, emphasized the importance of research regarding how AI will impact these professions. SERC faculty members are working to integrate AI into their classrooms to inform their students about future uses in their careers.

In Clinical Rehabilitation Counseling, faculty are embedding AI directly into applied coursework, training students to critically evaluate AI-generated vocational data, labor market information and assessment recommendations while grounding decisions in professional judgment and ethics. In the School Counseling Program, students are prepared to navigate AI’s possibilities and limits through ethics-focused coursework and national research, reinforcing that empathy, nuance and confidentiality remain irreplaceable.

Meanwhile, the Education to Accomplish Growth in Life Experiences for Success (EAGLES) Program is leveraging AI as an equalizer for students with intellectual disabilities, using federally funded digital literacy and AI modules to promote independence, self-advocacy and access.

“AI can enhance the services or instruction that we provide, reduce administrative tasks and increase efficiency in research,” Flores said. “We must ensure that researchers are shaping how AI is changing our fields.”

In the Department of Educational Foundations, Leadership, and Technology, faculty are working with AI in multiple ways. Through basic and applied research, faculty are addressing early childhood vocabulary learning and mathematics learning, and learning how AI can help with research workflow, STEM learning and even the development of education policy.

Several faculty members are also incorporating AI into their classrooms, including the use of an AU tutor to support independent learning and AI-explicit language in teaching materials such as syllabi.

EFLT Department Head Hank Murrah said that his unit’s approach is about embracing the changes that come with AI while also working to shape how it will affect the future of education.

“We view AI as both a transformative research tool and a catalyst for innovation in teaching and learning,” Murrah said. “Our faculty are developing AI-driven interventions for STEM education, leveraging AI to streamline research workflows and exploring ethical frameworks for its use in classrooms. These efforts position us to prepare graduates who are not only AI-literate but capable of shaping evidence-based policy and practice. We believe AI will redefine how educators design learning experiences and how researchers generate insights—making education more adaptive, fair and impactful.”

Matt Miller serves as the director of the School of Kinesiology, whose faculty members are exploring how AI can help with conducting research and processing data to find ways to improve a person’s health. Within the School of Kinesiology, AI is being introduced in coursework related to exercise prescription and programming, helping students analyze data, tailor training plans and think critically about how emerging technologies can support safe, individualized, evidence-based practice.

“School of Kinesiology faculty members conduct research that yields large and complex datasets involving measures related to human movement, including but not limited to their physical activity throughout the day, brain activity during exercise, joint angles while walking or throwing a ball and protein expression after exercise training,” Miller said. “AI helps faculty members make sense of these measures to translate research findings into practical knowledge that can be used to enhance health and performance.”

Additionally, in the School of Kinesiology, the Sensorimotor and Rehabilitation (SMART) Neuroscience Lab studies the neuroscience of human movement using virtual and augmented reality simulations. And now, a new member of the lab has joined the team to help understand things like balance and walking: Circuit, the robotic “dog” who comes complete with artificial intelligence built in. Circuit is what’s called a quadruped robot (“robot dog”), and he’s used to explore new ways of supporting older adults’ safety at home.

Led by Director of Physical Therapy Harsimran Baweja, the SMART Neuroscience Lab is using Circuit to study whether robot dogs equipped with artificial intelligence and advanced sensors can reliably track human movement during everyday activities.

While there are many uses for AI, College of Education faculty members are also acutely aware that the human touch is an essential part of their work. The overall goal is to use AI to enhance the service provided to another human being, whether they are a student or a patient.

“Whatever their approach, integrity and professional ethics remain the driving force for our use of generative Artificial Intelligence,” Fitchett said. “Maintaining these principles is essential as we navigate an ever-changing landscape.”

Together, these efforts highlight a college-wide approach to AI that spans disciplines and populations, using emerging technologies not as replacements for human expertise, but as tools to expand opportunity, insight and impact.

View original content to download multimedia:https://www.prnewswire.com/news-releases/auburns-college-of-education-embraces-an-ai-powered-future-to-advance-its-mission-302750731.html

SOURCE Auburn University College of Education

Continue Reading

Trending