After a record sales year for many travel agencies in 2023, there are indications that demand is plateauing or falling for many retailers.
Raleigh, N.C.-based host agency Travel Experts (No. 27 on Travel Weekly's Power List) polled its member advisors about sales in the first half of 2024. While nearly half -- 49.2% of advisors -- reported an increase in sales, 34% said sales are the same and 16.8% said sales have dropped.
Advisors reporting a dip in sales attributed it to a number of factors: the economy, the cost of travel, the upcoming presidential election and clients opting to take fewer trips.
Additionally, they said that their time has been more limited by "trying to keep up with airline schedule changes and slow responses from suppliers," Travel Experts said.
"Clients are spending more money, but getting business done seems to take longer," said Travel Experts advisor Tim Burke, based in Kansas City, Mo.
Conversely, advisors seeing an increase in sales attributed it to new clients and referrals as well as an increased focus on luxury sales.
"My book of business is continuing to expand, with majority of growth from both repeat and referral clients," said advisor Christina Schlegel, based in Arlington, Va.