The wider picture
The retail travel industry has faced significant challenges in recent years, particularly concerning a labor shortage. As experienced travel advisors retire, there has been a growing concern about the lack of new entrants into the field. However, recent developments indicate a positive shift in this narrative, with a notable increase in interest towards becoming a travel advisor.
According to LinkedIn’s ‘Jobs on the Rise’ list, the role of Travel Advisor is one of the fastest-growing jobs, highlighting a renewed interest in the profession. Organizations like the Association of Canadian Travel Agencies (ACTA) are taking proactive steps to address this trend. Their Travel Advisor Essentials (TAE) course aims to equip new advisors with foundational knowledge, ensuring they are well-prepared to enter the industry.
Supporting this growth is Trevello Travel Group, which has been instrumental in nurturing new talent. Currently, Trevello supports 1,287 independent advisors across Canada, with an impressive 70% of them being new to the industry. This influx of fresh faces is crucial for the sustainability of the travel sector, especially as it rebounds from the challenges posed by the pandemic.
Furthermore, the financial outlook for the travel industry is promising. Canadian vacation spending is projected to reach a record $47.6 billion by 2026, marking a 22% increase year over year. This surge in spending reflects a growing confidence among Canadians to travel again, and it is expected to create more opportunities for travel advisors.
In a recent statement, Suzanne Acton-Gervais from ACTA emphasized the importance of attracting the next generation of travel advisors while also supporting experienced professionals. “From ACTA’s perspective, attracting the next generation of travel advisors while also supporting and retaining experienced professionals across all generations is a key priority for the long-term sustainability of the industry,” she stated. This sentiment is echoed by Zeina Gedeon, who noted, “The more important story are the advisors that stay,” underscoring the need for retention in addition to recruitment.
On the corporate side, partnerships are playing a pivotal role in the growth of travel services. Hopper, a travel booking platform, recently signed a long-term deal with the Royal Bank of Canada (RBC) to power the Avion Rewards Travel program. This collaboration is expected to enhance the travel experience for RBC customers, further integrating travel into everyday financial services.
As Hopper continues to expand, it has reported that B2B partnerships now drive more than 90 percent of its revenue, with annual earnings exceeding $500 million USD. Dakota Smith from Hopper remarked, “The interesting part comes next as we move towards launch and to providing real value to RBC customers and Canadian travellers,” indicating that the future holds exciting developments for both companies and the travel industry at large.
With these positive trends, observers are optimistic about the future of the travel industry. The combination of increased spending, the influx of new advisors, and strategic partnerships suggests a robust recovery and growth trajectory. As the industry adapts to the changing landscape, it remains to be seen how these developments will shape the travel experiences of Canadians in the coming years.
