Host Agency Reviews has released its 2023 Hosted Travel Advisor Research Report.
This is the most in-depth version of the report so far and covers operations, technology use, host agency relationships, demographics, and more with something for everyone, including advisors, suppliers and host agencies.
The data illustrates a year of momentum and showcases an industry that has picked up right where it left off in the beginning of 2020. While this report is released in 2023, the data is from 2022 and reveals how agencies recovered after the pandemic.
The research shows that travel advisors are accelerating past a recovery mindset, they are happy in their jobs and their income increased 42 percent over the last year ((and even more for full-time hosted advisors). Earnings for new advisors who have less than two years of experience is also up 14 points over previous years. Overall, the outlook is that travel advisors are flourishing in a desirable career.
This year, the report is broken down into editions for different sectors of the industry with one for travel agencies, suppliers and one for consortia, travel tech and DMCs.
Solo travel advisors receive a lot of takeaways from the report, including:
Benchmark personal sales and income against current averages, taking into account niche, experience, hours worked, and more
—Use the data to project future sales and income goals
—Gain an understanding of income potential (or average income) by niche and product
—See where your average sales per booking falls compared to the industry at large
—Make data-backed decisions on fee amounts by comparing to industry averages
—Use demographic and regional data to see what can set an advisor apart in terms of client reach
—Compare your host agency commission split to the latest industry standards
—Find the travel tech that most advisors are using
There are also several benefits, including gaining perspective on startup costs, typical earnings, information to inform a business plan, information on niche performance, startup commission rates and more.
Hosted Travel Report 2023 is a treasure trove of information for host agencies and consortia, supplying competitive intelligence, information on educating and onboarding ICs, informing your resource development and more.
Purchase the full report for $89 on Host Agency Reviews website.
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