Give a clearer understanding of the structure of UK tour operations market and give recommendations on whether investment in such industry will be profitable for Cole Venture Capital.

... 1.0 INTRODUCTION 1.1 Terms of reference This report is the result of an investigation on the UK outbound tour operating market for Cole Venture Capital. The objective of this report is to give a clearer understanding of the structure of UK tour operations market and give recommendations on whether investment in such industry will be profitable for Cole Venture Capital. 2.0 HISTORICAL REVIEW 2.1 Developments 1945-1960 Overseas travelling increased after World War Two. This was due to social, economical and technological improvements of their respective environment. The first air tour was credited to Vladmir Raitz whose Horizon Holidays bought surplus Douglas Dakota troop carrying aircraft from the army to carry 32 holiday makers on a trip to Corsica in 1950 (Yale 1995). The availability of cheap transport plus the lower accommodation and food costs in Spain and other Mediterranean countries made foreign holidays affordable to a generation emerging from war-time

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