Travel and tourism is a dominant industry in Canada. Canadians love to vacation, so travel franchises are a profitable industry. Learn about the travel franchise industry in these facts and trends:
1. The travel and tourism industry contributed approximately $138.8 billion to Canada's GDP in 2017. The total contribution is estimated to grow to $235.5 billion by 2028.
2. Business travel accounts for nearly half of the travel market. Many of these business people rely on travel professionals to manage important aspects of their travel.
3. Cruise travel is a huge trend in the travel franchise industry. Cruise travel allows for global immersion, budget-friendly options, and unconventional travel. Per the Cruise Line International Association ’s State of the Cruise Industry Report, cruise tourism is forecasted to reach 106% of its 2019 levels by the end of 2023.
4. The internet continues to play a huge role in how travelers make decisions. Everything from booking a hotel to finding a restaurant for dinner is done online. This trend opens an opportunity for home-based travel agent franchises that specialize in online booking.
5. A travel agency or travel consultant franchise is a great opportunity for a home-based business. Because these businesses will not require a physical location, their starting and operating costs will be significantly lower than other franchises.
Major Travel Franchise Sectors
- Travel Agency Franchises
- Travel Consultant Franchises
- Cruise Franchises
- Hotel Franchises
- Car Rental Franchise
- Recreation and Entertainment Franchises
Top travel franchises include Expedia CruiseShip Centers, Hampton Inn, Hertz, UNIGLOBE Travel, and Yogi Bear's Jellystone Parks Camp-Resorts.
Trends and Facts About Travel Franchises
Travel and tourism is a dominant industry in Canada. Canadians love to vacation, so travel franchises are a profitable industry. Learn about the travel franchise industry in these facts and trends:
1. The travel and tourism industry contributed approximately $138.8 billion to Canada's GDP in 2017. The total contribution is estimated to grow to $235.5 billion by 2028.
2. Business travel accounts for nearly half of the travel market. Many of these business people rely on travel professionals to manage important aspects of their travel.
3. Cruise travel is a huge trend in the travel franchise industry. Cruise travel allows for global immersion, budget-friendly options, and unconventional travel. Per the Cruise Line International Association ’s State of the Cruise Industry Report, cruise tourism is forecasted to reach 106% of its 2019 levels by the end of 2023.
4. The internet continues to play a huge role in how travelers make decisions. Everything from booking a hotel to finding a restaurant for dinner is done online. This trend opens an opportunity for home-based travel agent franchises that specialize in online booking.
5. A travel agency or travel consultant franchise is a great opportunity for a home-based business. Because these businesses will not require a physical location, their starting and operating costs will be significantly lower than other franchises.
Major Travel Franchise Sectors
- Travel Agency Franchises
- Travel Consultant Franchises
- Cruise Franchises
- Hotel Franchises
- Car Rental Franchise
- Recreation and Entertainment Franchises
Top travel franchises include Expedia CruiseShip Centers, Hampton Inn, Hertz, UNIGLOBE Travel, and Yogi Bear's Jellystone Parks Camp-Resorts.