NAICS 561520 Quarterly Industry Report
Tour Operators
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 561520Sector: Administrative and Support and Waste Management and Remediation Services (56)Updated: Q1 2026
About This Report
This industry profile for Tour Operators (NAICS 561520) draws on data from the Bureau of Labor Statistics[6], U.S. Census Bureau, and SBA size standards database[7]. Published by Fair Market Value and updated quarterly, it provides valuation professionals, tourism analysts, and business brokers with current market data. The editorial analysis reflects the independent assessment of FairMarketValue.com's research team, with all quantitative claims sourced to publicly verifiable databases.
Industry Snapshot
Key metrics for the tour operators industry.
Share of Administrative and Support and Waste Management and Remediation Services
0.6%
By establishment count, 2022 Census[2]
NAICS Sector
56
Administrative and Support and Waste Management and Remediation Services
Industry Definition & Overview
Tour Operators (NAICS 561520) encompasses establishments primarily engaged in arranging and assembling tours that are sold through travel agencies or directly to travelers. These businesses create packaged travel experiences combining transportation, lodging, meals, and guided activities into cohesive itineraries per the U.S. Census Bureau[5]. The industry serves both domestic and international markets.
U.S. tour operators generated about $12.7 billion in revenue in 2026, reflecting strong post-pandemic recovery. Growth averaged 22.1 percent annually between 2021 and 2026, driven by pent-up demand and consumer preference for curated experiences. However, profit margins remain compressed by elevated operational costs. Small businesses dominate the sector; the average firm employs roughly 2.9 workers while generating higher revenue per employee than in prior years per the Bureau of Labor Statistics[6].
Tour operators function as both wholesalers and retailers, purchasing services from transportation, lodging, and activity suppliers at negotiated rates, then repackaging them into vacation products with markup. Geographic concentration follows major tourism destinations and metropolitan areas. Competition from online travel agencies and direct booking platforms pressures margins, yet operators maintain value through destination expertise, group coordination, and customized itineraries that self-service platforms cannot easily replicate. Per the SBA Table of Size Standards[7], the size standard is $25.0 million in average annual receipts.
What's Included in This Industry
- Wholesale and retail tour arrangement and packaging
- Group tour coordination and planning services
- International and domestic vacation package assembly
- Travel itinerary development and customization
- Accommodation and transportation booking through suppliers
- Guided tour experiences and activity coordination
- Adventure and specialty travel package creation
- Corporate and incentive travel programs
- Theme-based tour offerings including cultural and educational trips
- Customer service and on-trip support coordination
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Administrative and Support and Waste Management and Remediation Services | 56 |
| Subsector | Administrative and Support Services | 561 |
| Industry Group | Travel Arrangement and Reservation Services | 5615 |
| NAICS Industry | Tour Operators | 56152 |
| National Industry | Tour Operators | 561520 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 561510 | Travel Agencies | Travel Agencies sell individual travel services and act as retail distribution partners for tour operators who create and wholesale packaged multi-component vacation products |
| 561591 | Convention and Visitors Bureaus | Convention and Visitors Bureaus market destinations and attract business events, generating visitor flows that tour operators build leisure packages around |
| 561599 | All Other Travel Arrangement and Reservation Services | All Other Travel Arrangement Services includes reservation systems and ticket offices that provide specialized booking functions, distinct from the package assembly role of tour operators |
| 721110 | Hotels (except Casino Hotels) and Motels | Hotels and Motels serve as accommodation suppliers, providing room allotments at negotiated wholesale rates that tour operators bundle into vacation packages |
| 487210 | Scenic and Sightseeing Transportation, Water | Scenic and Sightseeing Transportation by Land provides ground tour services that tour operators incorporate into their assembled travel packages and group itineraries |
| 711110 | Theater Companies and Dinner Theaters | Theater Companies and Dinner Theaters supply entertainment experiences that tour operators package alongside lodging and transportation for cultural tourism products |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 14.1% | 357 |
| 2 | Florida | 13.0% | 330 |
| 3 | New York | 8.5% | 214 |
| 4 | Hawaii | 4.3% | 109 |
| 5 | Texas | 4.2% | 105 |
| 6 | Colorado | 3.6% | 92 |
| 7 | Massachusetts | 3.3% | 84 |
| 8 | New Jersey | 3.0% | 75 |
| 9 | Pennsylvania | 2.9% | 74 |
| 10 | Illinois | 2.9% | 73 |
% Of Establishments
0%
14%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
224
Total SBA Loans
$82.9M
Total Loan Volume
$370K
Average Loan Size
9 yrs
Average Loan Term
10.65%
Average Interest Rate
1,976
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Per the SBA Table of Size Standards[7], Tour Operators (NAICS 561520) has a size standard of $25.0 million in average annual receipts for federal contracting purposes. SBA 7(a) loans[8] support working capital for supplier deposits, marketing investments, and expansion into new destinations. The seasonal cash flow pattern common in tour operations makes SBA working capital financing particularly relevant for firms managing supplier payment cycles. Additionally, 504/CDC loans[9] provide long-term, fixed-rate financing for major fixed assets such as real estate and equipment.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | CBI Bank and Trust | 8 | $18.9M | $2.4M |
| 2 | Alaska Growth Capital BIDCO, Inc. | 16 | $16.2M | $1.0M |
| 3 | First Internet Bank of Indiana | 8 | $12.8M | $1.6M |
| 4 | Northeast Bank | 24 | $9.2M | $383K |
| 5 | Newtek Bank, National Association | 32 | $7.0M | $219K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses operate as tour operators?
Tour operators range from small specialty firms offering guided hiking or culinary tours to large wholesalers assembling thousands of vacation packages annually. The average firm employs about 2.9 workers per the Bureau of Labor Statistics[6]. Specialization is common; operators may focus on adventure travel, luxury destinations, group tours, or specific geographic regions.
How is the tour operator industry structured?
Revenue reached about $12.7 billion in 2026, with strong 22.1 percent annual growth from 2021 to 2026 per the U.S. Census Bureau[5]. Small businesses dominate. Operators act as wholesalers, purchasing transportation, lodging, and activities at negotiated rates, then repackaging them with markup for retail sale through agencies or direct channels.
What is the SBA size standard for Tour Operators?
Per the SBA Table of Size Standards[7], NAICS 561520 has a size standard of $25.0 million in average annual receipts. This determines eligibility for SBA loans, federal contracting, and small business programs.
What NAICS codes are related to tour operators?
Related codes include NAICS 561510 (Travel Agencies), NAICS 561591 (Convention Bureaus), NAICS 561599 (Other Travel Arrangement), NAICS 721110 (Hotels), NAICS 487210 (Sightseeing Transportation), and NAICS 711110 (Theater Companies) per the U.S. Census Bureau[5].
Which industries work most closely with tour operators?
Hotels provide the largest cost component through room blocks. Travel agencies distribute packages to retail customers. Sightseeing transportation companies supply ground tours. Destination activities and attractions create experiential content. Convention bureaus generate market awareness for featured destinations.
What activities are included in NAICS 561520?
Core activities include assembling and packaging tours combining transportation, lodging, meals, and activities; negotiating wholesale supplier rates; creating itineraries; coordinating group logistics; and providing on-trip support per the U.S. Census Bureau[5]. Both wholesale distribution through agencies and direct consumer sales are included.
Can tour operator businesses get SBA loans?
Yes, operators meeting the $25.0 million size standard qualify for SBA 7(a) loans[8] covering working capital, supplier deposits, marketing, and destination expansion. Seasonal cash flow patterns make SBA working capital financing particularly valuable for managing payment cycles.
Which states have the highest concentration of tour operators?
Hawaii, Florida, California, and Nevada host the highest density of tour operators, reflecting their status as major tourism destinations per the Bureau of Labor Statistics[6]. Metropolitan areas with international airports and large convention centers also attract tour operator headquarters and branch offices.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA Table of Size Standards sba.gov
- [8]SBA 7(a) loans sba.gov
- [9]504/CDC loans sba.gov
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