How can you tell whether you are doing well compared with your competitors?
Is your business growing or shrinking? Is your business as profitable as it could be?
Can your business be improved and if so where should you look for the improvements?
Where do you look to find the information to help you?
These figures are published each month by the Department of Statistics.
Over the year ended 30 Nov 2015 Visitor Arrivals were up 8.9% on the previous year.
If your inbound sales in the year ended 30 November were more than 9% up on last year then you are probably doing well. If not then you need to address the situation.
Over the year ended 30 Nov 2015 NZ Resident Departures were up 5.7% on the previous year.
If your outbound business has not grown by greater than 5% in the past year – then you must be falling behind your competitors.
Each year we produce benchmark figures to assist our clients in evaluating their performance against others in the industry.
We can provide these figures over a range of travel businesses
and with some detail if required.
These figures are gathered from over 50 small to medium sized Travel Agencies whose turnover varies from $0.75mill to $48 mill. These include Leisure and Corporate Agencies from all the travel industry groups with the exception of HOT and Flight Centre.
Their figures are standardized to give the owners an “arms length salary”.
We select from these agencies the “TOP 10”.
In 2015 their Revenue was used as follows:
We have detailed information that we can use to compare margins and each expense in your travel agency with our Top 10.
This information gives you a guide as to where you can improve your business performance.