Business Opportunities in the Travel Industry

The world we live in today is dynamic and most people are. Do you love to travel the world and go places? You bet, I do. The Traveling Industry is a lucrative sector worth $8 Trillion a year and can greatly enhance the Gross Domestic Product (GDP) of and country.

Travel is a whopping $8 Trillion a year industry. It contributes in no small way to the economy and GDP of any country. The travel industry is a gold mine for both small and big business owners with the hinges never closed to unending opportunities. Here are list of things you can venture in this travel business.

TRAVEL AGENCY

Travel Agencies are largely becoming a common trend in recent times. These are companies that provides travel information and help to organize transportation, accommodation and tours for its clients. A great number of people like business men for instance with busy schedule, rely greatly on travel agencies to run booking and reservation for them.

A Travel Agent provides travel information and makes travel arrangements for all modes of transportation, accommodation and tours. To start a travel agency, you may need to partner with high-level travel websites with booking engine.

Most partnership may require a fee or you may have to be approved after you send your application, before you are given access to use their online facility which provides a B2B (Business to Business) platform for partners and travel agents in turn provides a B2C (Business to Customer) service for customers.

If you want to run a custom travel and booking system, you may consider using an API(Application Programming Interface) provided by them, with which you will use to build your system. Some popular websites to partner with include: Expedia, TBOHolidays, Travelfusion to mention but a few.

TAXI CAB BUSINESS

Taxi business is booming in the travel industry, you may want to consider services like UBER, whose services has become rampant world wide. The overwhelming need of taxi services keep rising everyday and fits into the travel industry perfectly. From picking a client from the airport, to touring around a city, the list is endless.

A BLOG ABOUT TRAVEL

If you are a traveler with lots of experiences, you may want to setup a blog and write about them. This keeps people informed about the places you’ve visited and how to travel to those places. If your content is relevant and exciting, your blog is sure to generate traffic which you can monetize eventually.

Two great examples are expertvagabond.com and nomadicmatt.com.

BE A TOUR GUIDE

Now, you’ve traveled to a country over and over again and you know every nook and cranny of that country. Have you considered becoming a tour guide? You can setup a tourist business to guide you travelers and take them to historical and fun spots of a city or country.

The travel industry may be saturated, but there is still enough room for anyone willing to take a bite.