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6 Most Profitable Opportunities for Starting a Business in Tourism Industry

6 Most Profitable Opportunities for Starting a Business in Tourism Industry

pexels andrea piacquadio 838413 6 Most Profitable Opportunities for Starting a Business in Tourism Industry

The 2020 outbreak of the COVID-19 pandemic took quite a heavy toll on the tourism sector. These days, however, when this crisis more and more looks like a distant past, the world is gradually falling back in line and people have, once again, started roaming the globe looking for fun.

At the moment the industry stands at more than healthy $716.80 billion and is expected to soar to $992.10 billion by 2026.

Of course, this growth is not limited strictly to the hospitality sector and people with a good pulse on the industry will have plenty of opportunities to tap into renewed interest in tourism to the benefit of their organizations.

So, what are then the most profitable ways to leverage the growth of the tourist industry? Let us try to find out together.

Read: How To Write While Traveling

Lodging services

This is, by far the most obvious and, at the same time, more profitable way of making money from the ongoing tourism resurgence.

Modern travelers like the convenience and frugality the traditional hospitality industry and hotels are simply not capable of providing. The Airbnbs and similar types of lodgings, on the other hand, offer travelers far more flexibility and the option of price sharing so it’s no wonder they are carving an increasing piece of this market.

Speaking strictly in business terms, this type of venture requires very low upfront investments so it makes a perfect opportunity for first-time investors.

Car rental services

Using public transport makes one of the core experiences of traveling aboard. But after the novelty wears off people simply just want a way to navigate the cities and explore the countryside with as little hassle as possible.

With that in mind, starting your car rental service does seem like a very novel idea, especially taking into consideration that off-season all those vehicles can be used for logistics or some similar type of service.

Alternatively, you can explore the idea of doing local sightseeing tours or even long-distance taxi services. Vehicles are a great asset that never loses any value or application options.

Photography services

These days, every globetrotter has a decent smartphone camera all the time in the back pocket. Still, while these things are great for casual Instagram photos, true memories are made by top-notch DSLRs.

Just imagine all the amazing places you can visit – stunning Grand Canyon vistas or an amazing desert adventure in India. You wouldn’t want these amazing sights recorded by a low-density lens, right? Well, there are a lot of people who think the same.

So, if you have a knack for photography and you live in the vicinity of some hot tourist location why wouldn’t you share your talent and make some money along the way?

Guided tours

Essentially this business opportunity is very similar to the car tours we have mentioned in one of the previous sections but this time you will do less driving and far more talking.

Also, we have to keep in mind that in most countries doing professional guided tours requires some sort of license or formal education so if you still don’t have these credentials sorted out now is the time to begin your training.

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But, if you are a history buff or simply like meeting new people you should make this option one of your priorities. Furthermore, this is yet another type of venture where the upfront costs are very affordable.

Souvenirs and gift shops

Yeah, this option may sound a bit on the nose and even worn out, but people like to bring some sort of memory about the places they have visited back home.

And then there are obligatory gifts for friends and family, local delicacies and beverages, and all other things that make one travel experience colorful and unique.

So, even though this market is very competitive there is still a lot of money to be made there. One of the simplest ways to make your store more competitive is to work on branding, develop some recognizable mascot or lay out the engagement with blogging or a strong social media presence.

Luggage storage

Last but not least, we would like to point out that a lot of people visiting your location may be simply passing by and making quick stops to check a couple of local attractions. Or they might need to spend some time waiting for the check-in. In either of these cases, they wouldn’t want to drag their suitcases around.

So, why wouldn’t you offer to safe-keep them until the owners come back to pick them up? Throw into the mix a warm breakfast or dinner and a cup of hot coffee and you’ll get a profitable business that will have no problem registering on the online radar and attracting an influx of new clients.

So, there you have it – the top six ideas to use the ongoing tourism resurgence and start your own gig in some of the associated sectors.

Of course, these few tips are only the tip of the iceberg and the opportunities for making money from tourism are practically limited only by your imagination and will to push forward. Well, now you know in which direction you should be going which is a great way to start your venture.

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  • Very nicely written and helpful points. Im.sure it will help many.Ypur photography is not amateur at all.Goodluck.

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