Canadians are looking for and booking travel

Are you planning a winter getaway? Or maybe even thinking ahead to next year’s summer vacation? You may have consulted a travel agency, contacted tour operators or booked travel arrangements through a reservation service.

These types of services can be very helpful for creating your perfect travel experience. While the travel industry took a hit in recent years due to travel restrictions related to the COVID-19 pandemic, business in this industry has bounced back to the pre-pandemic norm. 

The travel arrangement and reservation services industry group is composed of three industries: tour operators, travel agencies, and other travel arrangement and reservation services.

In 2023, operating revenue of the industry group as a whole increased 53.5%, to a record high of $15.2 billion. Operating revenue in 2023 was up 3.8% from 2019, the year before the pandemic.

It was the tour operators industry that accounted for the largest share of this revenue, at 59.7% or $9.1 billion.

Operating revenue at travel agencies had the strongest recovery of all three industries, exceeding pre-pandemic levels by 11.6% in 2023. Total operating revenue for travel agencies reached $2.8 billion in 2023, a 55.5% year-over-year increase.

Finally, operating revenue for other travel arrangement and reservation services surpassed pre-pandemic levels by 9.0%, rising 20.8% year over year to $3.3 billion in 2023.

For more information on all travel arrangement and reservation services, including operating expenses and operating profit margins, check out Travel arrangement services, 2023.