GlobalData’s figures reveal of $1.9 trillion spent on outbound global travel in 2019, $166 billion (8.7%) was spent through the travel industry.
Although greater amounts were spent on transportation at $472 billion, retail at $461 billion and accommodation at $325 billion, GlobalData says a lack of expenditure across these sectors will have a roundhouse effect on travel intermediaries.
“Travel intermediaries act as the direct link in the chain of distribution between a company and the consumer base working in tangent with airlines, hoteliers, cruise operators and insurance providers,” said Johanna Bonhill-Smith, travel and tourism analyst at GlobalData.
