Accountancy firm reports 45% rise in travel firm closures

Holidaymakers are building their own breaks on the internet, leading to a 45% rise in closures of travel agents and tour operators in the past year, according to accountancy firm Wilkins Kennedy.

The company claims the economic downturn has prompted people to take shorter DIY holidays in the UK or mainland Europe rather than long-haul packages.

The trend caused 77 travel agencies and tour operators to go bust in the year to March 31, up from 53 in the previous 12 months.

Despite a pick-up in the UK economy, Wilkins Kennedy partner Anthony Cork said the recession accelerated the decline as consumers learnt to book holidays without the help of a travel agent.

“Travel agents on the high street were once the first and only port of call for booking holidays, but the tide has turned and we are now seeing online booking services and price comparison sites taking over,” Cork said.

Sourced from Travel Weekly

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