A 2016 survey by Opinion Way for kayak.co.uk found that the use of travel agents has changed
Question:
A 2016 survey by Opinion Way for kayak.co.uk found that the use of travel agents has changed dramatically over the past 10 years in the United Kingdom (Sullivan, 2016). While 57\% of respondents indicated that they booked through a travel agency a decade ago, only \(19 \%\) do so today. Instead, \(79 \%\) of respondents are booking their trips online today (up from \(35 \%\) a decade ago). Technology and new business models have significantly reduced the cost of doing it oneself, and many travel agencies are going out of business. Use diagrams of a competitive market for travel services and of a representative travel agency providing those services to explain what happened in the market for travel services, assuming there is no change in the demand for travel services.
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