The travel industry is finally on the rebound. In 2013, the US online travel market reached $157 billion and is projected to increase again this year. PhoCusWright predicts that online travel service adoption will grow in the States from 41% in 2012 to 43% in 2015. The US Commerce Department likewise estimates a 4% annual growth over the next 3 years for international travel to the US, and a 12.5% increase ($36.7 billion) this year of international business-related travel outside the country. With such great forecasts, now is the time to invest in your own travel agency business.
The ability to find, compare, and purchase tickets online have changed the game for the travel agency business. Now consumers can scour the internet for the best-priced tickets, and for low-rate hotel rooms, oftentimes sacrificing premium service in exchange for the low fair. While this trend is becoming the preferred method for many younger Americans, older citizens and those who want a quality vacation, are turning toward traditional travel agents for their travel needs.
Traditional agents take care of every detail for their clients from bookings to activities. Some sources would lead consumers to believe that no one is using travel agents anymore, but the opposite is true. According to Airlines Reporting Corp., flights booked by traditional travel agents increased by 11% over the past four years. Another reason that travel agents have become more popular, is that they have numerous contacts around the world, possess insider knowledge, and allow travelers to customize their own experiences.
Despite the increased business for travel agencies, they are still classified as a “high risk” industry, making it nearly impossible to attain a legitimate payment processor for their travel merchant account. eMerchantBroker has travel industry specialists who are experienced in creating, monitoring and growing travel merchant accounts. We guarantee that your account will be 100% CPI compliant so that your business can accept Visa and Mastercard, along with other credit and debit card issuers. Contact us now, and have an operational travel merchant account in just 3 days.
For a Travel Merchant Account contact us today!