The Group Travel Outlook 2022 shows that the share of independent contractors (ICs) working with host agencies has grown dramatically from 29% last year to 52%, indicating a shift towards entrepreneurship among travel advisors. In the current survey, 60% of the advisors said they were ICs, whereas 40% were retail agencies, with an even split between those with a storefront location and those without. The number of travel businesses operating out of traditional storefronts has been consistently dwindling. In 2021, 29% of businesses had a storefront. Even agencies without storefronts came down from 31% in 2021 to 20% in 2022.This trend is testimony to the ‘entrepreneurization’ of the travel industry. Most new entrants in the industry, especially during the pandemic, prefer flexibility and independence. 10 | CHART 1 BUSINESS CLASSIFICATION, SHARE (%) ADVISOR DEMOGRAPHICS 8% 20% 20% 52% Retail travel agency with a storefront location Retail travel agency, non-storefront location Independent contractor working with a host agency IC/advisor working on your own