15 Biggest Travel Companies in the World: When Will They Recover Their 2020 Losses?
In this article we will list the 15 biggest travel companies in the world. Click to skip ahead and see the 5 Biggest Travel Companies in the World.
Traveling is not only a form of enjoyment, it is also good for your health. Whether a person decides to spend the summer, winter or simply a short weekend break in a foreign country, travel always has a positive effect on the mind and body of a person. Everyone who hears the word travel first thinks of a break from everyday obligations, getting up early and city noise. But a vacation is much more than just a walk down the main street of an unknown city or a visit to a museum. Every time we travel somewhere, we enrich our experiences and learn things that cannot be read in a tourist guide, because a visit to a new city and a new country brings with it getting to know people, their way of life and customs, culinary specialties and all other things that make a nation special and different. Social interaction in an unknown city contributes to relaxation, and acquaintances with new people or locals often turn into friendships, especially nowadays when maintaining contact through social networks is easier than ever.
Travel also has a good effect on the human body and gives excellent results in treating stress and depression, helping to restore energy. The key to happiness has always been hidden in experiences, not in material things. Travel is food for the soul. People love to see and enjoy beautiful things and places. For many, it is enough to go to places they have already visited or to take a short break somewhere in the vicinity. This provides a respite from current preoccupations and gives strength to move on.
You are able to see places that you thought did not exist, learn something about their history, maybe learn a word of a foreign language. Every new place and experience enriches your lives. Today, many things are available online, but learning from the locals the history, how they live, what are the customs, culture and other specifics of a place can allow you to gain new views of the world. Traveling can also be seen as a challenge for several reasons, starting with not knowing the language, eating unfamiliar food and losing the everyday comfort that everyone is used to. Each trip is a new experience by which we break established habits. By overcoming them, we become stronger, more resourceful and more satisfied with ourselves. If you enjoy traveling you might want to consider checking out the 10 Best Places to Visit in USA in February.
Those first experiences in life are always remembered. That first time is always somehow special. Full of uncertainty, thinking about how it will be, where it will be, will everything go according to plan, do we have a plan at all? Because of the excitement caused by adrenaline, we feel alive, and that is why a little extra adrenaline is not a bad idea. Traveling always awakens in us that feeling of the first time. Going to the still unknown, an undiscovered place that we may already know a lot about from various literature or we have heard from others or we know almost nothing about, but we want to see how it is there. There is nothing more beautiful than packing and going in an unknown direction, where a new adventure awaits us! As Mark Twain said - travel is fatal to prejudice, inhumanity and limited perceptions. You may regularly watch the news and what is happening in the world on TV, but only when you go there, on the spot, can you really understand what the problem of that country is, or what is really beautiful there. First-hand experiences are irreplaceable.
It may sound counterintuitive but travel industry managed to grow almost continuously until the coronavirus pandemic. The number of international tourist arrivals worldwide stood at 600 million in 1999, increased to 800 million by 2009, and has been steadily climbing to 1.2 billion through 2019. We don't have the precise figures for 2020, but it is expected to fall below the 400 million level in 2020 because of the pandemic. US residents cut down their domestic travel by 70% this summer and international travel by 90% for the same reason. Some analysts are so pessimistic that they don't expect air travel demand to recoup its losses until 2024. We actually disagree. We believe air travel will come back with a vengeance in 2022 because of pent-up demand. That's probably why travel stocks like Booking Holdings (BKNG) trade near their 52-week highs.
Precisely because everyone loves adventure and travel, travel companies always have a lot of work, so here is a list of 15 biggest travel companies in the world!
15. Omega World Travel
Through more than 45 years Omega World Travel has established a superb record of providing comprehensive domestic and international travel management services to organizations of all types. Omega is one of the largest business travel management companies in the U.S., with $1,47 billion in sales. It has 530 employees. President and CEO of the company is Gloria Bohan. She launched Omega World Travel in 1972 as a small-town storefront travel agency. Today, Omega is the top woman-owned business in the U.S. This company offers comprehensive service configurations to corporations and governments, including technology tools and other travel services and it owns Cruise.com, an online cruise seller, and TravTech, a wholly owned technology company.
Pixabay/Public Domain
14. Frosch
Frosch ranks 14th in our list of the biggest travel companies in the world. Frosch was founded in 1972. In 1977, Richard Leibman acquired sole ownership of the agency from the Frosch family. In 1998, Richard was joined by his son, Bryan who today serves as the company’s President & CEO. In 2004, Lara Leibman joined the company as Executive Vice President. The company has $2,25 billion in sales and 1180 employees. Frosch owns Frosch Rewards & Incentives, Frosch Global Conferences & Events and Frosch Student Travel.
Pixabay/ Public Domain
13. Travel and Transport
Travel and Transport, Inc. was founded in 1946. It is headquartered in Nebraska, US. Chief Executive Officer and Chairman of the company is Kevin M. O’Malley, President and Chief Operating Officer is Timothy J. Fleming and Executive Vice President and Chief Information Officer is Michael P. Kubasik. The company has sales of $3,53 billion and 1737 employees.
12. AAA Travel
AAA Travel ranks 12th in our list of the biggest travel companies in the world. Whether it's a family vacation or cruise, a romantic getaway, or a business trip, AAA can get you there in style, with great member savings. You'll get hotel discounts, discount car rentals, and vacation packages that meet your needs and budget. President and CEO is Marshall L. Doney. They have sales of $4,13 billion and 4655 employees.
11. Fareportal
Fareportal ranks 11th in our list of the biggest travel companies in the world. Fareportal is company founded in 2002. With their strong knowledge and experience in the air travel booking vertical, including corporate travel management and automation of wholesale distribution of complex international airfares, today they operate in North America, Europe, and Asia. CEO and Founder of the company is Sam S. Jain. Fareportal has sales of $4,95 billion and 3899 employees. CO-CEO of the company is Werner Kunz-Cho and CFO of the company is Kenneth West.
10. Corporate Travel Management North America
Corporate Travel Management North America is a wholly owned subsidiary of Corporate Travel Management Ltd. It offers direct sales to corporate customers and consumers, including business travel, leisure travel, loyalty point redemption and meeting and event services. Brand portfolio includes Corporate Travel Management (CTM), Event Travel Management, Air Fulfillment Services, Allure Travel by CTM, CTM Loyalty Solutions and MTravel, which is CTM's hosted, commissioned agent program. It has sales of $5 billion and 725 employees. CEO is Chris Thelen and CFO is Anne Rudd.
06photo/Shutterstock.com
9. Direct Travel
Direct Travel ranks 9th in our list of the biggest travel companies in the world. Direct Travel is one of the most respected companies in North America and around the world, providing corporate travel, meetings and events, and leisure services. The company was founded in 1980. It is led by industry visionary Ed Adams and CFO of the company is John Coffman. It has sales of $5,4 billion and 2000 employees.
8. American Express Travel (NYSE: AXP)
The company was founded by Henry Wells, William G. Fargo and John Warren Butterfield on March 28, 1850 and is headquartered in New York. It engages in the provision of charge and credit card products, and travel-related services. President of the American Express Travel is Audrey Hendley. It has sales of $6,27 billion and 5000 employees. Chief Executive Officer is Stephen J. Squeri.
7. Travel Leaders Group
Travel Leaders Group ranks 7th in our list of the biggest travel companies in the world. Travel Leaders Group is a multi-unit travel industry company headquartered in New York City that has more than 7,000 company-owned, franchised and affiliated travel agency locations in the United States, Canada, the United Kingdom, Mexico and other countries. It was founded in 1996. Chairman of the company is Michael Batt, Chief Executive Officer is Ninan Chacko. The company has sales of $7,12 billion and 4000 employees.
6. Flight Centre Travel Group
Flight Centre Travel Group (FCTG) is a large retail travel agency in Australia. It was founded in 1982 by Graham Turner and Geoff Harris, and is headquartered in Brisbane. FCTG operates under multiple names in Australia, New Zealand, United States, Canada, United Kingdom, South Africa, Hong Kong, India, China, Singapore, United Arab Emirates, and Mexico, and licenses its name in a further 80 countries. Executives of the company in US are: President - Dean Smith, CFO - Peter Stone. The company has sales of $16 billion and 20600 employees.
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Disclosure: No position. 15 biggest travel companies in the world is originally published at Insider Monkey.
