The Travel Institute has released key findings from its latest study, “The Changing Face of Travel Agents 2023.” More than 2,000 advisors were polled in this research, and because The Travel Institute gathered similar data in 2018 and 2008, advisors can get a longitudinal perspective on the field via the numbers.
The Travel Industry Continues to Be a Gig Economy
The study shows that the industry continues to be a “gig economy” — meaning that advisors are far more likely to be independent contractors (71% of respondents) than full-time employees, likely because of the flexibility and independence that being an IC allows. And this number has risen significantly over the years: 62% of study participants were ICs in 2018, and just 29% were ICs in 2008.
Almost Half of New Travel Advisors Come to the Profession After a Career Change
Additionally, more and more advisors are making big career moves to work in travel, signaling an influx of new-to-the-field advisors. Of respondents in the 2023 study, 44% report that being an advisor came after a career change. Diane Petras, president of The Travel Institute, said this highlights an obvious need for support, education and retention efforts in the industry.
We need to ensure we have individuals in our talent pipeline who are open to a lifelong career in travel.
“We need to ensure we have individuals in our talent pipeline who are open to a lifelong career in travel,” Petras said in a press release linked to the survey. “With time and experience, dedicated, new-to-the-industry apprentices become our veteran leaders.”
The Majority of Travel Agents Love What They Do, But There Is a Shortage
High job satisfaction was apparent in the study, with 74% of participants reporting that “they love what they do.” The data does show, however, that some older advisors have left the field. More than a third (36%) of agencies reported losing seasoned staff during the pandemic, and more than half of those agencies (56%) said they didn’t replace them.
How Old Are Most Travel Agents?
So, what is the demographic in terms of age in today’s advisor population? The study found that 66% of agents are over the age of 50, and 6% are under the age of 35. That leaves the remaining 44% of advisors between the ages of 35 and 50.
Recruitment of Travel Agents
“Demand for skilled travel agents is high and only increasing,” shared Lea Diele, senior director, educational services of Travel Leaders Network. “Their skills, knowledge and resources are definitely worth our industry’s investment, and well worth any incremental cost for travelers.”
Demand for skilled travel agents is high and only increasing.
Despite the obvious need for such efforts, study participants reported that recruiting is not their top concern this year. Instead, agency owners and managers are spending their energy navigating global travel regulations, client anxiety and other daily obstacles that crop up. The pandemic may be “over,” but its wake is still moving through the industry, impacting advisors and agencies every day.
Petras of The Travel Institute sees this as even more reason for getting additional industry supports in place. Education that meets the ever-changing needs of advisors and clients is crucial, as is helping new-to-the-field advisors navigate career options. To that end, The Travel Institute aims to partner with more educational institutions, suppliers and agencies, all with the goal of building the confidence and skills of advisors, so that they thrive in the industry.
More study findings are set to be released this summer.