Financial Situation of Travel Agencies



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Polish tourism companies are not impressed by the financial situation. The vast majority of them are in a weak and bad situation – informs BIG InfoMonitor. Some have problems with payments to entrepreneurs and banks. Tourists, however, can rest in peace, because the law protects them better and better.

The interest of Poles for the services of travel agencies is growing. We travel abroad more frequently. However, not all companies in the industry have much to brag about
Up to four out of five companies offering tourism services are in bad and bad financial status, and 9 percent . can not cope with payments to entrepreneurs and banks – according to BIG InfoMonitor and Bisnode Polska

According to Bisnode, Poland only has 15% of its financial strength and sound financial position. companies. Only one in 16 tourism businesses is financially sound.

Photo: Bisnode Polska

Tourist agents are in the worst situation. 85 percent

Photographs: Bisnode Polska

Arrears of tourist enterprises

As results from BIG InfoMonitor and BIK data 907 tourism companies currently have unpaid obligations on time. total value of PLN 16.1 million – The sum of arrears for contractors and banks is not high, but the percentage of companies that do not pay on time differs significantly from the average of the economy, since it stands at nearly 9%. 5.7% for all companies. Late payments of min. 30 days for an amount of at least 500 PLN is the 11th tourist company – notes Halina Kochalska, spokesperson for BIG InfoMonitor

Photo: BIG InfoMonitor

Most late companies come from Mazovia, second Silesia and the third – Małopolska . In these three provinces, the arrears of liabilities reported to BIG InfoMonitor exceed the amount of 2 million PLN

The tourists better protected

The financial arrears of companies are not yet predictors of bankruptcy. However, for customers of travel agencies, in many cases, the red light should turn on. Luckily, regulations protect more and more tourists

Since the last season, tour operators have been paying each tourist's insurance premiums to the Tourist Guarantee Fund. They are also required to purchase insurance guarantees relevant to the scale of operations. In addition On 1 July 2018, a new law on tourist events and related services entered into force, which equates the protection of tourists with the whole of the European Union. 19659004] According to the regulations, if the office collapse, tourists can continue their leisure, as provided in the contract. Before the legal changes, they could only count on the costs of returning to the country and the reimbursement of the amounts paid but not used.

Customers should also be informed of every detail of the trip before signing the contract. They have the right to cancel the reservation if the price of the offer increases by at least 8%. Under the new rules, travel agents have 3 years to claim compensation or compensation, including an intermediary

How to check a travel agency

The Polish Chamber of Tourism recalls that the credibility of tour operator can be verified agreement. Here are some useful tips:

  • all legally operating offices can be found in the Central Register of Tourism Organizers and Tourist Intermediaries (CEOTiPT) at www.turystyka.gov.pl; there is information on their activities and security in case of bankruptcy
  • the financial capacity of the organizer can be found in economic information – in this report you can find up-to-date information on payments timely or late from the organizer; the investigation usually requires the registration (free) and the seizure of your personal data, but you will then receive information about the debts of the company
  • or you can contact the competent Marshal's office to make sure that the travel organizer the province proper for the seat of office

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