16 | CHART 7 AGENCY AFFILIATION BY TYPE, SHARE (%) Most of the advisors (86%) were affiliated with either a consortium, a host or a franchise. Four in ten (41%) were affiliated with a consortium or a marketing group, 34% of them were affiliated with a host agency and 12% with a franchise. The sales are also affected by the affiliation of the agent. 59% of the advisors working with a consortium made over $1 million dollars in annual sales whereas only 17% of those working with a host agency could cross the one-mil- lion mark in annual sales. In fact, almost half (49%) of advi- sors working with host agencies made less than $500,00 worth of annual gross sales. Only 8% of those associated with a franchise could make more than $1 million. 14% 12% 41% 34% Affiliated with consortium or a marketing group Affiliated with a host agency Affiliated with a franchise Unaffiliated AFFILIATIONS MATTER

CHART 8 | 17 When it comes to trade association affiliations, most of the agencies and advisors are members of multiple organizations. In the USA, ASTA is the most popular national association with 44% of the surveyed American advisors being members. Similarly, 50% of the Canadian advisors were a part of ACTA. Among the international organizations, 55% of the American advisors and 39% of the Canadian advisors are members of Cruise Lines International Association (CLIA). The majority (75%) of the American respondents are members of International Association of Travel Agents Network (IATAN) and 89% of the Canadian ones are affiliated with International Air Transport Association (IATA). AFFILIATIONS MATTER TRADE ASSOCIATION AFFILIATION, U.S. ADVISORS IATAN CLIA ASTA 75% 55% 44%