Research and Markets: Travel Agents & Overseas Tour Operators Update Market Report 2012

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/75fa1b/travel_agents_ov) has announced the addition of the "Travel Agents & Overseas Tour Operators Update Market Report 2012" report to their offering.

The recession hit the UK travel and tourism sector hard, with consumers reluctant to spend on holidays abroad and in the UK. The height of the recession led to a decline in outbound travel, but a return to growth for domestic travel. This trend was reversed in 2010, as outbound tourism expenditure increased. However, the overall market experienced 2 years of decline. Expenditure fell by 1.7% in 2010 to 52.66bn and the number of visits both in the UK and abroad fell by 5.2% to 175 million.

The UK travel and tourism market consists of two main sectors: outbound tourism, and domestic tourism. In terms of expenditure, the outbound market accounts for the greater proportion of overall revenue, representing just over 60% of the market. This has declined slightly as a result of the recession, as holidaymakers have spent more money domestically.

Naturally the recession and consequent reduced consumer confidence have been the biggest influences on the UK travel and tourism market. The outbound sector is the primary market for travel agents and tour operators and this sector has seen the biggest fall in terms of expenditure. This has increased pressure on travel agents and tour operators, which have struggled with numerous businesses closing down. The Internet has also played a significant role, making it easier for holidaymakers to plan and book a holiday independently.

Air Passenger Duty (APD) is currently a large bone of contention for those involved in the aviation industry. British Airways (BA) has blamed high duty for its reduced volume of flights to the Caribbean. The cost of flying is also set to increase further in 2012, with the introduction of aviation to the EU's Emissions Trading Scheme.

Companies Mentioned:

• Acromas Holidays Ltd
• Holidaybreak Plc
• Kuoni Travel Ltd
• Thomas Cook Group Plc
• Trailfinders Group Ltd
• Tui Travel Plc

For more information visit http://www.researchandmarkets.com/research/75fa1b/travel_agents_ov