A wide range of information is available from Statistics NZ for both outbound and inbound travel. If your outbound sales in the year ended 31 October are more than 3.0 per cent up on last year then you are probably doing well. If not then you need to address the situation.
Which area should inbound travel business’s promote for 2015?
If your inbound business has not grown by greater than 5.1 per cent in the past year – then you must be falling behind your competitors.
Are you in the right sector to enjoy growth?
Education and holiday / vacation have shown strong growth compared to last year.
Naturally being in a growth sector makes your job easier – but analysing where the growth is, may be a way to move your business to a better place.
Each year Travel Accounting produce benchmark figures to assist their clients in evaluating their performance against others in the industry. We can provide these figures over a range of travel business’s and with some detail if required.
These figures are gathered from over 50 small to medium sized travel agencies whose turnover varies from $1.5 million to $40 million. These include leisure and corporate agencies from all the travel industry groups with the exception of House of Travel and Flight Centre.
We select from these agencies the “TOP 10”. In 2014 their revenue was used as follows:
This information gives you a guide as to where you can improve your business performance.
We have detailed information that we can use to compare margins and each expense in your travel agency with our Top 10.
Compare this with 2013.