The travel industry has seen a significant boom in recent years. Australia, for example, reported a steady increase in international arrivals since 2012. Moreover, 7.9 million international travelers arrived in the country in 2017 alone. Hence, this translates to $51 billion added to the economy, supporting around 600,000 jobs.
This is an ever-growing industry and for entrepreneurs looking to start a business, it is a lucrative market to tap into. To learn more, below are its six major sectors.
Airlines are often considered a different category from travel and tourism. However, the two industries often overlap due to the symbiotic relationship they both share. To illustrate, it is the tourism sector which allowed the industry to expand at phenomenal rates with capacity needing to grow by 40 to 50% in the coming years according to analysts. For this reason, airline industries hire a broad range of professionals ranging from pilots and mechanics to flight attendants and software developers. Further growth in this sector could only mean an increase in demand for these disciplines.
- Aviation Consulting Business
- Flight Catering Service
- Airport Currency Exchange Centers
- Flight Ticketing and Reservation Services
- Luggage Delivery/Storage Services
- Travel Agency
- Uniform Supplier for Aviation Employees
- Airline Recruitment Agency
- Aircraft Maintenance Service and Spare Parts Sales
Attractions and Recreation
Attractions are a key sector in the industry. After all, various tourist attractions are often the main reason why tourists flock to a destination. These could be in nature such as the Great Barrier Reef or man-made like the Sydney Opera House. Thus, for the administration, operation, and maintenance of these sites, this sector often involves professionals like curators, historians, tour guides and even lawyers.
Outdoor recreation is also a popular venture. As a result, activities such as the Sydney Harbor Bridge Climb often generate a lot of revenue, especially during peak seasons. In addition to that, venues that provide activities like these are also a hit with locals traveling domestically, ensuring stronger economic support.
- Guided City Tour Services
- Cafes and Bars
- Accommodation Rentals
- Car and Bus Shuttle Business
- Photography Services
- Souvenir Shops
- Local Cuisine Restaurants
- Canoe and Kayak Tours
- Snorkel Tours
- Survival and Outdoor Training Services
A rather straightforward sector at a glance, business tourism is a lot more complex than one may think. Tour wholesalers need to work hand-in-hand with local operators in cruises and museum curators in order to create a smooth tour experience for visitors and locals alike. They work closely with the other sectors such as transportation and accommodation. They must also be on top of information services, ready to answer a visitor’s inquiry about a place or a service.
In addition, a tour wholesaler can either function as their own operator, offering their own products on top of their standard package. Contiki Holidays, a coach tour company that deals with coach trips for 18-35-year-old travelers, is one such example. Furthermore, their packages also include sightseeing, culture, socializing and adventure.
- Ride-sharing services
- Ecotourism Services
- Bed & Breakfast
- Shuttle or taxi service
- Online Booking and Ticketing Service
- Vacation Property Rental Agency
- Crowdsourced Trips
- Backpacking Tours
- Responsible Tourism – Volunteer Work
- Virtual Tours – See 360 views of potential places to visit.
Hotels, motels and serviced apartment traditionally fulfilled the demand for accommodation, however; alternatives such as Airbnb and Stayz started to become popular over the years, acquiring a portion of its market share.
Nonetheless, the hotel industry still supports a significant number of jobs. In fact, this sector employs approximately 270,000 people in Australia, with the number expected to rise by 2025. Furthermore, many hotel construction projects are currently underway in anticipation, leading to increased possibilities for growth. Together with this sector are the following:
- Pet Hotels
- Property Rentals for big groups
- Vacation lodges for family or big groups
- Shared rental accommodations
- Hostel Architecture
- Interior Design for Accommodations
- Booking and Reservation services for Rentals
Food and Beverage
Similar to transportation, the food and beverage industry is a category on its own. Sometimes, accommodation packages exclude these establishments in order to drive down costs, while others offer these as a premium. To this end, resorts often have a string of various bars and restaurants located near their area making for easy inclusion. As a result, cultural tours focused on local cuisine are often offered as well.
- Food Delivery Service
- Catering Services
- Wholesalers for local restaurants and hotels
- Online cooking schools for local cuisines
- Local food reviewer/blogger
- Food chain franchise
- Healthy and organic meals
- Food tours and delivery services
Conferences and Conventions
A significant 35% of Australian locals traveled domestically for work last 2017. This rise in business tourism is due to the growing number of business conferences and conventions cropping up within the country.
The 2018 Australasian Bus Conference, for example, was able to draw in 100 bus operators and industry leaders like the Minister of Transportation. Furthermore, events like these bring together professionals from various fields in order to discuss specialized topics within their industry, driving more traffic to the locale.
Though they may be temporary affairs, conferences are frequently hosted in venues that can eventually provide permanent employment even if it’s only to a small number of professionals. In addition, once an event is in place, there is often a significant spike in temporary employment. Income from accommodation and souvenirs also go a long way in helping local communities.
- Conference Centers for Business Gathering
- Business Event Planner
- Photobooth services for fun conferences
- Guided Tours for Groups
- Hotel Accommodation for Team Building Trips
- Team Building Event Planning Services
- Booking and Reservation Services
What business in travel and tourism are you interested in starting? Let us know in the comments below. Besides, with all the intricacies involved in each sector of the industry, back-office and customer service support can go a long way in providing value to your customers.
Call us today and see how we can help you deliver your full potential.