Global destination management service market is anticipated to grow at a CAGR of 6.5% during the forecast period (2024-2031). A major factor supporting the growth of the market is the increasing trend of mergers and acquisitions among leading companies in the industry. By pooling their resources, knowledge, and market presence, these organizations are better equipped to provide clients with all-inclusive, unmatched destination management solutions. Companies can broaden their service offerings, increase their geographic reach, and take advantage of synergies to provide clients with greater value through mergers and acquisitions. Furthermore, these mergers frequently lead to increased productivity, creativity, and competition, which boosts the market for destination management services. Because of their combined qualities, expertise, and dependability, clients are drawn to these integrated entities and have faith in them to plan faultless events and experiences.
Browse the full report description of “Destination Management Service (DMC) Market Size, Share & Trends Analysis Report by Service Type (Event Management, Accommodation Booking, and Transportation Logistics), by Application (Corporate Travel, Leisure Travel, and Adventure Tourism), and by End-User (Event planners, Individual, and Travel Agencies) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/destination-management-service-market
For instance, in December 2023, TBO Tek Limited's subsidiary, Tek Travels DMCC, acquired Jumbonline Accommodations & Services S.L.U., expanding its European presence. Jumbonline, formerly part of Jumbo Tours Group, offers a wide array of travel products and services, including over 120,000 hotels. Tek Travels DMCC aims to enhance its global footprint by simplifying travel with quality content and partnerships. This reflects TBO's strategy of investing in partnerships to streamline the travel ecosystem.
In June 2023, PRA, a leading Business Events Management Company, acquired Weil & Associates, a prominent Hawaiian destination management firm. This strategic move expands PRA's reach in the incentive market. Weil & Associates' founder, Debbie Weil-Manuma, will lead the rebranded PRA Hawaii, aligning with PRA's growth plan since its acquisition by EagleTree Capital.
As a result, the market for these services is expected to increase steadily as mergers and acquisitions continue to change the destination management industry.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Service Type
o By Application
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Safarak Travel and Tourism, Terra Events, Ovation Global DMC, PRA, Destination Asia, and DMC Network LLC, among others.
Key questions addressed by the report.
Global Destination Management Service Market Report Segment
By Service Type
By Application
By End-User
Global Destination Management Service Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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