What is Travel Trade and What You Need to Know About the Industry
Travel Trade is a term used to describe the buying and selling of goods or services between two countries. The main difference between travel trade and tourism is that travel trade involves the exchange of goods or services between businesses within a country. For example, a hotel chain might sell its rooms to another hotel chain. This would be considered a travel trade because both hotels are located within the same country. On the other hand, a tourist might visit a city and stay at a local hotel. This would be considered tourism because the visitor stays outside of his/her home country.
This is a growing sector of the global economy. In 2017, international travelers spent $1.3 trillion worldwide. That number is expected to increase to $2.5 trillion by 2025. And according to the World Tourism Organization, the travel trade sector employs over 100 million people around the globe.
It’s is a great way to earn extra income. If you’re interested in starting a travel trade business, here are some things you should consider.
How do I start my own travel trade business?
The first step in starting your own travel trade business is choosing an industry. There are many different industries for travel trade including:
Airline Industry – Travelers can buy airline tickets online from any airline. They can also book flights through third-party websites like Expedia.com.
Hotel Industry – Hotels offer room rates on their website. Guests can reserve rooms using credit cards. Many hotels will even allow guests to pay with cash if they prefer.
Cruise Line Industry – Cruise lines have cruise ships that sail around the world. These ships usually have restaurants, bars, lounges, spas, casinos, shops, pools, gyms, and more. Passengers can purchase food, drinks, souvenirs, and entertainment while onboard.
Car Rental Industry – Car rental companies rent out cars to customers who need them. Customers can either pick up the car at a location near where they live or they can drop off the vehicle at a location near where it needs to go.
Tours & Activities Industry – Tour operators organize tours for clients. Some tour operators specialize in certain types of activities such as hiking, biking, horseback riding, scuba diving, snorkeling, etc. Others offer general tours that include all kinds of activities.
Transportation Industry – Transportation companies provide transportation services for passengers. Airlines, trains, buses, taxis, limousines, and others are included in this category.
Making Money
The amount of money you can make depends on your skills as well as how many clients you have. You may want to start small and build up from there. It also helps if you know someone who has experience in this field. A good place to find potential clients is through networking events like Meetup groups.
