The travel industry is experiencing a fluctuating job market with various challenges.
- Average salaries in the travel sector have seen a remarkable rise of nearly 13% this year, now averaging £37,747.
- Despite attractive salaries between £40,000 and £55,000, senior roles’ average pay has declined due to a lack of high-paying positions.
- Recruitment activity has decreased, with new job vacancies and candidates down significantly compared to last year.
- Despite the slowdown, travel companies remain optimistic about expanding recruitment based on new government clarity.
The travel industry’s job market is currently navigating through a challenging phase marked by fluctuating recruitment and salary dynamics. Recent data reveals a significant increase of 13% in average salaries for newly created travel roles, elevating the pay to £37,747. However, this upward trend is predominantly influenced by numerous positions offering salaries between £40,000 and £55,000.
Paradoxically, the average salary for senior roles in the travel sector has witnessed a downturn, lacking sufficient high-paying roles above £60,000. Consequently, senior wages have diminished by 8.19% to an average of £53,925 from last year. This complex salary structure indicates a nuanced picture where, on paper, wages appear attractive but are not uniformly distributed across all job levels.
Recruitment activities have notably slowed, exhibiting a 34% drop in new vacancies and an 11% decline in candidate enrollment since the previous year. This contraction results in a substantial 32% reduction in the filling of new travel jobs. While average wages have indeed risen by £4,302 compared to last year, standard travel jobs under £40,000 have experienced only a moderate increase of 6.78%, bringing the average to £31,275.
Additionally, business travel salaries rose by 12.52% reaching £36,046; however, the corporate travel job market has been notably sluggish, with a 61% decrease in the placement of candidates into new roles at the beginning of 2024. Barbara Kolosinska of C&M Travel Recruitment remarked, “On the face of it, salaries in the travel industry are increasing by double digits year after year, which is fantastic news, but this isn’t the full story.”
Most travel companies had already fulfilled long-term vacancies following the pandemic, thereby exhausting recruitment budgets and lessening the number of available new roles. Despite these hurdles, the recent clarity in government policy post-election is expected to bolster confidence potentially stimulating broader recruitment initiatives by travel companies.
The travel industry’s job market, while currently facing challenges, remains poised for potential growth with governmental support.
