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Structure and value chain of travel and tourism industry
The travel market is based on supply and demand. On the supply side, we can find providers for rental cars, hotels, cruises, rail and of course air travel. On the demand side, we can find the end customers. The end customers usually go through agents to obtain an overview of the existing offers. Value chains a chain of activities that a firm operating in the travel industry, performs so as to deliver a valuable service for the market. The value chain is divided into five parts: Suppliers, Inventory management, Distribution, Sales, and Market.