The Advantage Travel Partnership has posted a pre-tax net profit of £1.18 million for the 2022/23 financial year, up from £619,815 the previous year.
Total global sales turnover across the membership grew to £15.6 billion. Almost half – £7.6bn – was generated by UK members, with £5.7bn from business travel and £1.9bn from leisure sales.
Transactional turnover increased to almost £116m, compared to £88m the previous year.
Chairman Steven Esom said: “2023 was a year of significant recovery for the UK Outbound Travel industry. A year when the industry came back with a vengeance from the pandemic and subsequent period of disruption, rallied and showed resilience like never before.
“Despite a challenging economic backdrop throughout the year and a cost-of-living crisis, British consumers demonstrated their passion for travel and prioritised their well-earned holidays above all else. Business Travel also came back strongly during the year, as more and more companies resumed in-person meetings and events, and by the close of the year booking volumes across the sector finished at 92% of those seen in 2019.”
Chief Executive Julia Lo Bue-Said said: “This financial year delivered a buoyant market for the UK Outbound Travel Industry and this positive backdrop led to an exceptionally strong year for Advantage, both financially and strategically. And, most importantly, a successful year for many of our stakeholders.
“The on-going situations in the Ukraine, Israel and Palestine look unlikely to be resolved anytime soon, and whilst inflation is under control, consumer spending is likely to remain under pressure. However, on a positive note, many of the indicators show that holidays and travel remain of vital importance to people and business, so we can look forward with a degree of cautious optimism.”
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Total global sales turnover across the membership grew to £15.6 billion. Almost half – £7.6bn – was generated by UK members, with £5.7bn from business travel and £1.9bn from leisure sales.
Transactional turnover increased to almost £116m, compared to £88m the previous year.
Chairman Steven Esom said: “2023 was a year of significant recovery for the UK Outbound Travel industry. A year when the industry came back with a vengeance from the pandemic and subsequent period of disruption, rallied and showed resilience like never before.
“Despite a challenging economic backdrop throughout the year and a cost-of-living crisis, British consumers demonstrated their passion for travel and prioritised their well-earned holidays above all else. Business Travel also came back strongly during the year, as more and more companies resumed in-person meetings and events, and by the close of the year booking volumes across the sector finished at 92% of those seen in 2019.”
Chief Executive Julia Lo Bue-Said said: “This financial year delivered a buoyant market for the UK Outbound Travel Industry and this positive backdrop led to an exceptionally strong year for Advantage, both financially and strategically. And, most importantly, a successful year for many of our stakeholders.
“The on-going situations in the Ukraine, Israel and Palestine look unlikely to be resolved anytime soon, and whilst inflation is under control, consumer spending is likely to remain under pressure. However, on a positive note, many of the indicators show that holidays and travel remain of vital importance to people and business, so we can look forward with a degree of cautious optimism.”
The post Advantage Travel Partnership’s profit doubles to £1.2m appeared first on Travel Gossip.
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