Quick Tips for Tourism Business.
Tourism is the world’s largest industry. If you are new to the tourism industry, or in need of a refresher, this article is designed to give you the knowledge needed to make your business a success.
Business tourism is the lucrative, fast growing segment of the world’s largest industry sector. Business travel is categorized as follows:
- Exhibition: B2B and B2C exhibition.
- Events: international events
- Meetings: Corporate and Government meetings
- Incentives: Mostly company incentives.
- Conferencing: Mostly association meetings.
Like most industries, the tourism industry requires you to have industry-specific knowledge and information to create and run a successful business. Understanding which agency does what, the distribution systems, recommended rates of commission, and the roles of various booking agents is essential for a sustainable profitable business.
In many developing and transition economies, tourism has merged as the dominant tool for economic growth.
- Business tourists are less cost sensitive than leisure tourists, spending twice as much per day.
- The purchase decisions are primarily influenced by their ability to spend the time efficiently within business travel.
- 75% of business travellers extended their trip for pleasure (stay another day campaign).
- Enormous potential in this market.
It takes more than just a great product or service to succeed in business. There are crucial steps to undertake before you dive head first into your business such as market research, planning and financial management.
- Opportunities exist to work with hotels to develop an in-house TV channel that features activities appealing to business tourists such as weekend tours, theatre, golf options, restaurants, special cultural and recreational events and departure flight information.
- Specialized site inspection tour operators and guides.
- Opportunities exist to work with hotels in order to upgrade their business support services
- Develop airport tourism by working with the airports to make an inventory of the activities available to business travellers.
- Gaps to be addressed may include business centres with internet access, exercise facilities, day rest rooms booked on an hourly basis, extended shopping options and short tours.
- Or develop 1-3hour tour packages for people in transit
- Executives are increasingly attracted to the adventure venue business trip, which combines team building and strategic planning needs with adventure travel.
- One company, for example, designs adventure vacations for organizations designed to boost morale and develop leadership in corporate employees, while providing a “perk” in the way of a rafting trip or other exciting recreational venues.
Before committing to either starting or buying your own tourism business, it’s important that you consider just how well suited you are to be owning and operating your own enterprise. Before you take the plunge, take some time to consider your plan.
- What is your main reason for getting into business? There needs to be an underlying passion to succeed.
- Do you have effective ways of coping with stress? Self-employment can be very stressful, so you’ll need strategies to cope.
- Do you adapt well to change? One of the certainties in business is change, and how this is responded to can have significant consequences for your business.
- Do you have a strong support network of family, friends and colleagues? Many business problems can be overcome with a strong support network.
- Are you able to focus your energies on a particular project? Focus is important for the small business owner.
- Would you describe yourself as risk averse? Working for yourself is generally accepted as being riskier than working for someone else.
- Do you sometimes put off making big or hard decisions for fear of getting it wrong or upsetting people?
- Business owners need to make important decisions, and they won’t please everyone all the time. You need to be confident about your decisions.
There are many marketing avenues that you can pursue, however trying to decide which ones will work for you can be difficult. Are you going to start a public relations strategy, target the international market by attending trade and consumer shows, or focus on online marketing. Whatever marketing avenues you decide to pursue just remember to plan ahead and develop a strong marketing strategy. I have always emphasised on the importance of having a good website for your company. A poorly designed website can repulse people from your business and can cause you to lose customers before you even have them. Get in touch with HyperEffects to work on creating, enhancing and making the website of your company more user-friendly.