After months of declining sales that have hit travel agency margins, August 2024 is shaping up to be a month of recovery for the sector. According to the Monthly Survey of Travel Agencies (Emav) of the National Administrative Department of Statistics (Dane), an increase in 3.1% in nominal income compared to the same month of the previous year. This rebound is encouraging and suggests that the tourism sector could be on the path to stabilization after recent difficulties.
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In August 2024, the nominal income of travel agencies increased by 3.1% compared to August 2023. This growth is mainly supported by the sale of its own tourist packages, which contributed 2.0 percentage points to the total variation in income. This trend not only reflects an improvement in sales, but also a shift in consumer preferences toward more complete experiences offered by these packages.
Throughout 2024, until the month of August, nominal income has shown an increase of 3.5% in relation to the same period of the previous year. In a broader analysis, when comparing the period from September 2023 to August 2024 with that from 2022 to 2023, nominal income presents a notable variation of 7.4%. This indicates that the sector is not only recovering, but is also beginning to grow.
The income structure reveals that the main component continues to be sale of own tourist packages, which represents 45.6% of the total. Other revenue, which includes additional services such as hotel reservations and transportation, makes up 22.8%. Diversification of the offer is crucial, as it allows agencies to adapt to the changing needs of travelers.
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It is interesting to note the change in sales channels: in August 2024, The traditional channel generated 61.4% of sales, while the online channel contributed 38.6%. Compared to the same month in 2023, where sales through the traditional channel were 64.9% and online sales were 35.1%, there is growing interest and trust in digital platforms by consumers.
Situation of employed personnel
In terms of employment, the staff employed in travel agencies also shows signs of recovery. In August 2024, Employed personnel grew by 2.2% compared to August 2023. To date, so far this year, this indicator has presented a positive variation of 3.3%. For the period from September 2023 to August 2024, the variation reaches 4.3%.
As agencies increase their operations, the need for sufficient and trained staff becomes crucial to serving clients and maintaining quality of service.
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Another positive sign is the increase in the nominal average salaries of travel agency staff, which grew by 11.8% in August 2024 compared to the same month of the previous year. This increase in compensation is significant, especially in a context where many sectors face inflationary pressures.
So far this year, salaries have increased by 9.1%, and for the period from September 2023 to August 2024, the variation is 10.6%. This growth in wages not only improves the quality of life for workers, but can also contribute to greater talent retention in a sector that has historically been vulnerable to economic fluctuations.
PAULA GALEANO BALAGUERA
Portfolio Journalist
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