Summary

The tailor-made travel market underwent significant changes due to the Covid-19 pandemic, which caused a dramatic decrease in tourism. Globally, the market was valued at $312 billion in 2023 and is projected to grow to $527.8 billion by 2030, at a CAGR of 7.8%. In Italy, a prime tourism destination, the market faced a severe setback with revenues from travel agencies and tour operators dropping to €9.3 billion in 2022 from €12.7 billion, and a loss of about 1,300 employees. Post-pandemic, a recovery is expected with an estimated sector turnover of €10.5 billion in 2023, a 12% increase over 2022.

Consumer demand for travel agencies saw a peak before the summer season with an average index of 81.5 in March '23. Factors such as the increased use of the internet for bookings, influence of social media, and a shift towards sustainable and unique travel experiences are shaping the market. The tourism industry in Italy reflected a drop in active businesses by 47%. Italians traveling within the pandemic period in 2020 decreased significantly with a 67.9% reduction in business travel and 44.8%.

The Resilience and Evolution of the Italian Tailor-Made Travel Market

In the wake of the global pandemic, Italy’s tailor-made travel market witnessed a substantial shift in consumer behavior and industry operations, presenting a unique blend of challenges and emerging trends within the tourism sector. Prior to the disruptions caused by Covid-19, Italy’s travel market was on an upward trajectory with a noteworthy increase in revenue, particularly in the tailor-made travel segment. However, the pandemic-induced stalemate led to a significant decline, with travel agencies and tour operators seeing a drop in revenue to just over 9 billion euros in 2022. Despite these downturns, 2023 beckons a period of recovery. This revival is intricately tied to the evolving nature of consumer demand, where digital influence and societal changes have redefined the market structure.

Notably, the increase in internet usage has encouraged consumers to craft their travels independently, prompting travel specialists to expand their service offerings for competitive allure. Meanwhile, social media’s pervasive impact has led to travel influencers reshaping the way unique travel experiences are sourced and shared, thus fueling the desire for personalized exploration among travelers. In terms of demand characteristics, searches related to travel agencies surge preceding the summer season, with peak interest in March 2023. Activities mainly gravitate towards vacations that afford relaxation, with substantial growth of nearly 20 percent in this preference. Moreover, there is noticeable appreciation for discovering natural beauty, accounting for more than 10 percent of travel choices. The motives propelling travel decisions range widely, with long-term vacations and short breaks both being popular amongst consumers, although the former often involves direct bookings or use of private accommodations, eschewing agency services. However, for brief vacations, travel agency booking stands at nearly 40 percent. It’s telling that there exists a sizable portion of the populace, particularly among young adults and individuals over 65, who forgo vacations due to varied reasons like financial constraints or simply being unaccustomed to traveling. The geographical distribution of demand for travel agency services is somewhat concentrated, with Campania topping the interest searches, indicating a potential hotspot for consumer engagement. Furthermore, new trends such as the burgeoning ‘Anywhere Travel’ among Millennials, sustainable travel, and the blend of business with leisure (bleisure)—which alone accounted for revenues upwards.

Major Players in the Italian Tailor-Made Travel Market

The tailor-made travel industry in Italy is a blend of traditional allure and contemporary innovation, where established companies and emerging entities work tirelessly to cater to the ever-evolving demands of the discerning traveler. The following are some of the notable players in the Italian market, each with their unique brand of hospitality and travel expertise.

HotelTurist S.p.A. HotelTurist stands as a venerable entity in the Italian travel sector, known for offering a wide range of travel services that cater to both leisure and corporate clients. The company has built its reputation on providing high-quality accommodations and bespoke travel experiences, ensuring that each client's journey is nothing short of extraordinary.
Idee Per Viaggiare S.r.l. Idee Per Viaggiare has carved a niche in creating personalized travel itineraries that resonate with individual preferences and styles. The company is renowned for its innovative travel packages and exceptional customer service, designed to deliver unique and memorable travel experiences.
Gattinoni Travel Network S.r.l. With a robust network and a plethora of travel options, Gattinoni Travel Network has established itself as a trusted partner for travelers seeking both traditional and off-the-beaten-path experiences. Their commitment to providing comprehensive travel services has secured them a loyal customer base and a respected position in the market.
Italcamel S.p.A. Italcamel is another key contender in the industry, recognized for its extensive selection of travel services and strong partnerships with domestic and international suppliers. The company prides itself on its ability to facilitate seamless travel experiences, from accommodations to tours, for a diverse clientele.
BCD Travel Italy S.p.A. BCD Travel Italy is a global player with a strong presence in the Italian market. Specializing in corporate travel management, BCD Travel offers innovative solutions that cater to the complex needs of businesses and their travelers. Their expertise in streamlining travel processes and optimizing travel spends has made them a go-to choice for corporate clients.
Turning to tour operators: Alpitour S.p.A. Alpitour is an industry powerhouse, offering a comprehensive array of travel services, from package tours to hotel bookings and flights. Their extensive portfolio and experience make them a preferred choice for travelers looking for all-inclusive travel solutions.
6 Tour S.r.l. As a tour operator specializing in diversified travel experiences, 6 Tour focuses on delivering tailor-made vacations that exceed client expectations.

the tailor-made travel market - Italy

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Number of pages : 30 pages
Format : Digital and PDF versions
Last update : 15/11/2023

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Summary and extracts

1 Market Overview

1.1 Definition and presentation

Tailor-made travel consists of the provision by travel agencies and specialized operators of customized services and products in terms of transportation, accommodation and experiences, to travelers and tourists based on their individual characteristics, behaviors, preferences and needs.

The global market for tailor-made travel has been estimated at312 billion dollars in 2023and is expected to reach527.8 billion in 2030, with aCAGRof7,8%.

The tailor-made travel market in Italy had excellent growth prospects before the arrival of the Covid-19 pandemic, since Italy has always been one of the most popular tourist destinations worldwide and since Italians are a fairly travel-prone people.

Despite the long period of stalemate due to the pandemic, there are numerous opportunities for recovery. First and foremost, it should be acknowledged that the population's increased propensity to use the Internet has led to a strong shift by many industry players toward the use of digitally oriented business models: an increasing number of agencies and operators in fact prefer to operate exclusively online(OTA-online travel agency). While the increasing use of the Internet has had positive implications for this market, there is also no shortage of negative consequences such as the fact that travelers are increasingly able to build their own tailor-made trips without turning to specialized operators who are forced to expand their range of services in order to be more attractive.

Also very important is the positive impact of social media on this market. The latter, in fact, have become a kind of "travel agency," thanks to an increasing number of influencers ("travel bloggers") who propose sought-after destinations, dispense travel tips and showcase breathtaking experiences. This phenomenon makes the possibilities for personalization increasingly varied and numerous, with the result that travelers are increasingly seeking special destinations and unique experiences.

2 Demand analysis

3 Market structure

4 Supply analysis

5 Regulations

6 Positioning of actors

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Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Idee Per Viaggiare

Gattinoni Travel Network

Italcamel

BCD Travel

Alpitour

6Tour

Musement

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