Economic crisis? What economic crisis? With the amount of traveling that people look to be doing, it seems like the worst is over. If you want to start online travel business, this may just be the time to do it.
People travel for many reasons, though mainly for holidays and business. With the advent of international budget airlines, travelers are finding it more affordable to fly to destinations they found difficult to afford before. Herein lies a very lucrative opportunity for online business entrepreneurs. Which is why this could be a good time to start online travel business today.
We have written quite a bit about the different business opportunities available on the Net, so much so that some readers have suggested we rename our blog “Starting an online business for dummies”. Starting an online business has become so simple and affordable that it’s no long uncommon to have teens starting own business.
For those of you who are interested in selling intangible products or services, you could start online travel business. The industry is still rather stable even with all the setbacks it has experienced over the years.
Types Of Travelers
The Internet has more or less created a border-less world, business-wise. Business is done on a global scale. Companies have gone multinational with offices on almost every continent. This has resulted in thousands of executives jet-setting around the globe daily for sales presentations, budget meetings and exhibitions or product launches.
People also travel for vacation. Every destination now caters to travelers with different spending power. It doesn’t matter if you are a budget traveler or one who can afford to splash on a US$5000 a night suite – there is something for everyone. In fact, international tourism has become so popular that it accumulated receipts worth over US$900 billion in 2008. Not everyone travels just to see a new place. Many elderly tourists do it to escape the cold winter, for instance. Some students do it as part of a live-and-learn experience. There are also those who travel to attend massive events like the Olympics or the FIFA World Cup.
Another growing tourism market is health tourism. This is where patients go to foreign lands seeking medical treatment or procedures and then recuperate comfortably in a holiday setting. South East Asian countries like Thailand and Malaysia are currently popular with Europeans for such packages. Certain medical treatments and procedures offered are world class while at a cost that is comparatively much cheaper than those offered in “more developed” countries.
What’s In It For Merchants?
For starters, merchants can sell travel packages depending on the needs of a traveler. Basically most travelers (business or holiday) would need travel tickets (bus, plane, train, ship), accommodation (hotel, chalet, serviced apartment) and insurance (travel, health, accident, property).
Holiday travelers may need tour packages while those interested in health tourism would need both good medical and holiday deals as well.
Merchants earn a lot of commission by selling such packages. As usual, merchants should target one niche per store and stick to it. This will help your store get ranked for certain keywords much faster once all the marketing and page optimization is done.
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