Intermediaries posted 3% current value growth during 2017. This was similar to the CAGR of 2% seen at current prices over the review period, but was slower than the growth in the number of domestic and outbound trips. Consumers are shifting towards online intermediaries, which saw 11% growth in value sales in 2017, and replaced some sales via traditional offline intermediaries, which are represented mainly by travel agencies and tour operators. Offline value sales of intermediaries declined by 1% in 2017. Consumers prefer greater freedom of choice, and packaged holidays from tour operators do not fulfil their requirements. This is mainly true for younger people and couples. Older consumers or families still find benefits in using the services of tour operators.
Different categories in booking are expected to post varying performances over the forecast period. Intermediaries other transport is predicted to post a value CAGR of 4% at constant 2017 prices in the forecast period, mainly thanks to the expansion of cheap bus and train routes from the Czech Republic abroad, which started in 2017. Lodging sales are expected to be fuelled by the growing number of domestic trips and arrivals, which will result in a value CAGR of 3% at constant 2017 prices. The worst performance is expected to be seen by intermediaries other sales, with a negative value CAGR of 4% at constant 2017 prices, mainly through the reallocation of these products into other channels, such bundled into packages. Intermediaries package holidays is predicted to see a negative value CAGR of 3% at constant 2017 prices in the forecast period, mainly due to the growing popularity of independent travel.
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This report originates from Passport, our Intermediaries research and analysis database.
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