According to the group’s end-of-year financial results for 2021/2022, the partnership’s transactional turnover saw an increase to £88,007,276 from £12,679,725 in 2021, thanks to a boost in trading part way through the year.
The group’s statutory turnover increased to £21,477,459 and total global sales turnover across the membership grew to £12.5 billion, of this £4.5bn represented sales turnover from UK members.
The association reported a net profit before tax for the year of £619,815, having reported a loss before tax of £327,229 in 2021.
The partnership said this strong set of financial results have been driven by a strategy focused on building back the business and its balance sheet following two years of pandemic impact and making further investments into its core membership services and its people.
Chair Steven Esom said: "Following the challenges of the global pandemic, this was a year when worldwide governments started to remove travel restrictions, almost immediately triggering a much-anticipated pent-up demand for travel.
“Against this backdrop our members weathered the storm well by managing their customers’ travel plans as best they could to help minimise disruption and be on hand to guide and support them."
Across the partnership, the size of its membership base has continued to grow, with a further 137 new branches added to the network.
Julia Lo Bue-Said, chief executive of Advantage, added: "During the year, Advantage also continued to raise its profile across business, government and the media, as well as creating a public affairs and lobbying arm to champion the UK outbound travel sector.
"In doing so, Advantage has maintained its position as the leading voice for outbound travel with government and policymakers and created greater visibility and recognition for all travel agents operating in the UK outbound travel sector."
