According to travel advisors, 2024 is shaping up to be another strong year for bookings. In a survey of more than 200 agents — part of TravelAge West’s Need to Know series — 74% of respondents said 2023 was either “very” or “somewhat” strong compared to 2022. And a slightly higher number (82%) feel very or somewhat optimistic about 2024.
My agency had its best sales year ever in 2023.
“My agency had its best sales year ever in 2023,” said Theresa Chu-Bermudez, owner of Get Out! Custom Travels. “Based on the inquiries we are receiving, I am very optimistic that we will do even better in 2024 not only in terms of sales, but also in the way we work with clients. We’ve spent this year tweaking our boundaries and workflow so that we can work sustainably in 2024 and beyond.”
There is a strong sense of optimism for 2024.
Credit: 2023 TravelAge West
Looking back on this year, a third of advisors (33%) say 2023 exceeded expectations, while another 11% feel it far exceeded expectations. About a third (32%) say it was below expectations.
Advisors report that family travel/celebration travel performed best in 2023, followed closely by cruises/river cruises. Both travel types exceeded their expectations.
In terms of destinations, the top sellers in 2023 included (in order): USA/Canada, the Caribbean, Europe, Mexico and Hawaii. In 2024, advisors expect the order to shift a bit, to USA/Canada, Europe, the Caribbean, Hawaii and Mexico.
Bookings exceeded the expectations of many advisors this year.
Credit: 2023 TravelAge West“Honeymoons and anniversary trips were the top travel types for me in 2023, and Europe and Japan continued to be my best-selling destinations,” Chu-Bermudez said. “Both ocean and river cruises did really well for our agency overall, with more cruises on the books for us in 2024. My goal in 2024 is to shift my personal bookings to Australia/New Zealand, South America, Africa and Southeast Asia; however, I have a feeling that Europe, Mexico and the Caribbean will continue to remain the top destinations overall in the industry.”
I have a feeling that Europe, Mexico and the Caribbean will continue to remain the top destinations overall in the industry.
Despite the strong year, the large majority of advisors (80%) did not hire anyone in 2023, and a similar number (74%) say they did not expand their business in other ways. That trend seems like it will continue next year: More than two-thirds (68%) of agents do not expect to hire anyone or expand their business in 2024.
In spite of a strong year, most advisors don’t plan to expand their business anytime soon.
Credit: 2023 TravelAge West“I added an associate advisor this year and am planning on adding another next year,” Chu-Bermudez said. “This has been really helpful for me as I begin to diversify and alter my niche, since I am able to pass on inquiries that are no longer a good fit for me but are still a good fit for my agency.”
Need to Know Survey Series
“Need to Know” is a research series from TravelAge West that tracks the responses of travel advisors as they relate to various travel trends and topics. This survey recorded the responses of 204 advisors across the U.S. Click here to see more Need to Know stories.
