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PLANS TO RETIRE UP IN TRAVEL INDUSTRY

Aug 01, 2017
PLANS TO RETIRE UP IN TRAVEL INDUSTRY
Hot Travel Jobs conducts a yearly survey for Job-Seekers/Employees to get a perspective on their experiences in compensation as well as job experiences.
 
Over 700 Travel Professional took part in the 2016 survey, giving us amazing insight to the vitality of the Travel Industry. As one of our questions, we gauged the length of time professionals had worked in the industry, and broke it down into three major categories;
  • Years in the Travel Industry
  • Years with current employer
  • Retirement Plans or lack thereof

We can see from even a brief glance that the compiled information shows that the majority of the agents are concentrated in the over 17 years or more, while the Leisure area is showing the highest incidence of new agents entering the Industry.

More interesting is the shift of retirement planning across all sectors.  While previously 89% of respondents answered that they had no plans to retire or leave the industry in 2015, that number has decreased to an overall rate of 69% in our latest survey, a decrease of 19% over the period of a year.

Please read below to see the full structured breakdown.

Years in the Travel Industry
Corporate   CTM   Leisure    
1-5 1.6% 1-5 3.12% 1-5 7.2 7.2%
6-10 2.01% 6-10 7.81% 6-10 9.9 9.9%
11-16 6.45% 11-16 6.25% 11-16 11.7 11.7%
17+ 89.9% 17+ 82.8% 17+ 71.17 71.17%
             
Years with current employer
Corporate   CTM   Leisure    
Less than 2 years 30.87% Less than 2 years 25.45% Less than 2 years 20.87 20.87%
2-5 Years 32.7% 2-5 Years 25.45% 2-5 Years 29.67 29.67%
6-10 Years 15.2% 6-10 Years 20% 6-10 Years 20.87 20.87%
11+ years 21.19% 11+ years 29% 11+ years 27.47 27.47%
             
Retirement Plans
Corporate   CTM   Leisure    
2-5 Years 10.13% 2-5 Years 3.63% 2-5 Years 13.3 13.3%
6-10 years 19.3% 6-10 years 41.8% 6-10 years 23.3 23.3%
No current plans to retire 70.04% No current plans to retire 54.54% No current plans to retire 57.7 57.7%