Top class: Rising government spending and domestic business tourist nights lift revenue

Revenue growth for the Corporate Travel Services industry has been strong over the past five years. An upward trend in domestic business tourist nights and steady growth in government spending have driven the industry's performance over the period. Despite some volatility, overall positive business confidence over the past five years has also aided the industry's expansion. However, operators have faced challenges arising from structural and technological changes. Industry revenue is expected to rise at an annualised 3.6% over the five years through 2018-19, to $1.4 billion. This includes anticipated growth of 3.5% in the current year, due to a rise in business tourist more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • Technology has enabled industry firms to increase automation and trim their operating costs
  • Falling airfares have contributed to more business travel, which has supported industry revenue
  • Industry competition is forecast to intensify due to ongoing structural change
  • Industry Report - Industry Analysis Chapter

    The Corporate Travel Services industry has grown strongly over the past five years, supported by solid increases in business tourist nights. However, operators have faced significant competition from tourist service providers such as airlines and hotel chains, which have expanded their online booking capabilities. The industry has restructured to better meet the changed competitive landscape, adopting technologically advanced booking systems and adding greater value to the services provided to customers. Industry revenue is expected to increase at an annualised 3.6% over the five years through 2018-19, to $1.4 billion. This includes anticipated growth of 3.5% in the current year...purchase to read more.

    Additional Insights for the Corporate Travel Services Industry

    IBISWorld has determined the most important Key Success Factors for the Corporate Travel Services are:

  • Being part of a group buying, promotion and marketing scheme
  • Having a loyal customer base
  • Ability to alter goods and services produced in favour of market conditions
  • IBISWorld analysts also discuss how external factors such as Business tourist visitor nights and Business confidence index in the Corporate Travel Services industry impact industry performance..

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    What's in this report

    What is the Corporate Travel Services Industry?

    Industry firms cater for business and government clients travelling for business purposes. These agencies package accommodation, transport and leisure services for corporate clients, and work for commission.

    Industry Products
  • Airline bookings
  • Other transport bookings
  • Accommodation bookings
  • Other services
  • Industry Activities
  • Booking service provision
  • Ticket selling
  • Travel agency operation
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Business tourist visitor nights
  • Business confidence index
  • Government consumption expenditure
  • Trade-weighted index

  • Current Performance
  • Corporate travel trends
  • Industry change and competition
  • Profitability
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand outlook
  • Profitability
  • Table: Corporate Travel Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Corporate Travel Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Professional, Scientific and Technical Services

  • Key Selling Industries
  • Domestic Airlines
  • Hotels and Resorts
  • International Airlines
  • Motels
  • Scenic and Sightseeing Transport

  • Products & Services
  • Airline bookings
  • Accommodation bookings
  • Other services
  • Other transport bookings
  • Chart: Corporate Travel Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Domestic business travellers
  • Outbound international business travellers
  • Inbound international business travellers
  • Chart: Major Market Segmentation for the Corporate Travel Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Corporate Travel Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Corporate Travel Services Industry

  • Industry Globalization
    Flight Centre Travel Group Limited, Corporate Travel Management Limited,
  • Table: Flight Centre Travel Group Limited - financial performance
  • Table: Corporate Travel Management Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Corporate Travel Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Corporate Travel Services Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • Commission and other revenue retained by travel agents on bookings.
  • Suppliers
  • Providers of travel products and services. These include airlines, hotels and tour group operators.
  • Woag
  • WoAG or Whole-of-Australian-Government Travel Suppliers are preferred suppliers of travel services to the Australian Government.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Corporate Travel Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Corporate Travel Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Corporate Travel Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Corporate Travel Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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