Some recent data from a biennial economic impact study gives a great overview of the economic footprint of active members of the United States Tour Operators Association (USTOA). If you’re a tour operator, the comprehensive research – conducted by PriceWaterhouseCoopers LLP (PwC) – is a great tool to help you shape your business strategies for the year ahead. Below are key highlights.
On tour operators’ economic contributions to the industry and optimism about business, the study – conducted between Aug. 18 and Oct. 3, 2022, found:
- Active USTOA members contributed $15.9 billion in sales to the tour operator industry in 2022.
- Nearly all respondents – 96% – anticipate growth in sales in 2023.
Interesting insights on anticipated travel trends and the future of the industry include:
- Iceland, Egypt and Croatia top the list of off-the-beaten path countries of anticipated top destinations for 2023.
- Approximately 57% strongly agree that new technology will make it easier for customers to get travel information and complete bookings.
- The same number of respondents (57%) strongly agree that global circumstances are temporary and there will remain appetite for global travel.
The report has some vital statistics on the biggest anticipated risks and potential threats members think may impact their growth prospects in the year ahead. Rising costs are ranked as the number one issue in 2023 and beyond by 71% of those surveyed. Additionally:
- Nearly a quarter (24%) are extremely concerned about cost of living increases.
- Forty-five percent are very concerned about widespread staffing shortages.
- More than half (56%) are somewhat concerned about natural disasters.
- Seventy-five percent are somewhat concerned about terrorism.
This iteration of the survey also focused specifically on tour operators’ attitudes and plans towards sustainability and diversity, equity and inclusion. It found:
- Approximately two-thirds (63%) are confident that their organization is taking sufficient actions to address sustainability issues to remain competitive in the industry.
- Close to two thirds (61%) reported aligning sustainability goals with supply chain and partners.
- More than half (53%) plan to focus on reducing/offsetting carbon emissions.
- Three fourths (75%) report that their organization has policies covering gender and race and ethnicity, while more than two thirds (69%) have LGBTQ+ policies in place.
- Close to two thirds (61%) have made gender equality commitments.
The Aon Travel Takeaway
“This USTOA research gives an excellent snapshot of the tour operator industry – the impact it has on the travel industry overall, what challenges are ahead and where the opportunities lie for growth,” said Beth Godlin, President of Aon Affinity Travel Practice. “It’s a dynamic environment for operators and with these insights in hand companies can truly be strategic about moving their business forward.”