10+ Best & Profitable Tourism Business Ideas [2023]

Discover the 10+ best and most profitable tourism business ideas for 2023. From travel agencies to tour guides to mobile apps and more, explore the best opportunities in the expanding tourism industry. Find out which idea will make you the most money and let your business dreams come true!
Newfoundr

By Nick Cotter
Updated Feb 07, 2024

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Hey there, future entrepreneur! Ready to dive into the exciting world of tourism? It's 2023, and the industry is buzzing with opportunities just waiting for you to seize them. The world is slowly but surely opening up again, and people are eager to explore, to experience, and to enjoy. They're yearning for new sights, sounds, tastes, and memories. The question is, are you ready to be the one to provide those unforgettable experiences?

Whether you're a seasoned business mogul looking for your next venture, or a bright-eyed newbie ready to take your first step into the world of entrepreneurship, this article is for you. We've put together a list of over 10 of the most profitable tourism business ideas for 2023. Ideas that not only promise financial success but also offer the chance to make people's travel dreams come true.

So, sit back, grab a cup of coffee, and let's embark on this journey together. Who knows? By the end of this article, you might just find the inspiration you've been searching for to kickstart your entrepreneurial journey in the tourism industry. Let's explore, shall we?

Tour Guide Service

A Tour Guide Service provides guided tours of various places for individuals and groups. This type of service is a great business idea because it allows people to customize their experience and enjoy a local perspective. It can also provide unique, educational experiences to tourists. Here are some advantages of starting a tour guide service:

  • A tour guide allows people to explore the sights in their own way with an experienced guide.
  • It allows tourists to learn more about the local culture, customs, and history.
  • It provides visitors with a unique experience that they might not be able to find elsewhere.
  • It can also be profitable since tour guides charge for their services.
image of a Tour Guide Service

Destination Management Company

A destination management company (DMC) is an organization that provides local services in a destination location. They help tourists organize accommodations, transport, restaurants, leisure activities and any other aspect of the trip. DMCs offer an integrated approach to managing and supporting a traveler's experience within a city or region.

  • DMCs can provide valuable local information and experiences that a traveler may miss otherwise.
  • DMCs can create customized tours for clients that are tailored to their interests.
  • DMCs often have access to exclusive deals that they can offer their customers due to the relationships they have with local vendors.
  • DMCs make planning trips more efficient by suggesting off-the-beaten-path activities, attractions and events in the destination.
  • DMCs are experts in the logistics of trip planning and can make sure each part of the trip flows smoothly.
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Examples of successful businesses:

Here is a list of example successful companies in the tourism business industry:

  • Expedia Group
  • TripAdvisor
  • Booking.com
  • Airbnb, Inc.
  • Carnival Corporation & plc
  • TUI Group
  • American Express Global Business Travel
  • Hilton Worldwide Holdings Inc.
  • Wyndham Destinations, Inc.
  • Marriott International, Inc.

Sightseeing And Charter Bus Tour Business

A sightseeing and charter bus tour business is an attractive business idea as it provides customers with an enjoyable and convenient way to explore local areas and attractions. This type of business has a wide variety of potential benefits, including:

  • The ability to offer a variety of tour packages tailored to different groups
  • Provides customers with a unique experience that is convenient and enjoyable
  • Low barrier to entry and relatively low operating costs
  • A steady stream of customers from both locals and tourists
  • A great opportunity for networking and marketing within the local community
  • The potential for long-term growth and stability

Travel Agency

A travel agency is a business that specializes in providing travel-related services to customers. It offers a broad range of services, including booking flights, rental cars, cruises, and vacation packages. There are many advantages to running a travel agency as a business:

  • Deep industry knowledge and access to exclusive deals
  • Flexible hours
  • High potential for growth and profit
  • Opportunity to help people create memorable experiences
  • No need for inventory or brick and mortar retail space

Hotel/resort/lodging Business

A hotel/resort/lodging business offers accommodation and hospitality services to travelers. It is a great business idea because it is a growing industry with plenty of potential for profit. Here are some reasons why:

  • Growth in the global tourism industry
  • Opportunity to provide excellent customer service
  • Able to target high-spending tourists
  • Lower startup costs compared to other businesses
  • Potential to generate revenue through advertisement, amenities, and other services

Bed And Breakfast

A bed and breakfast is a type of business where customers can come to stay for the night and also enjoy a morning meal. This type of business is becoming increasingly popular, as it provides customers with a cozy atmosphere to relax and enjoy their vacation or business trip. Bed and breakfasts make a great business idea for entrepreneurs, as it offers several benefits:

  • A unique experience - Customers can enjoy a unique experience compared to hotels or other accommodation options.
  • Low startup costs - Bed and breakfasts require relatively low startup costs due to the typically small size.
  • Local appeal - Bed and breakfasts often have a local appeal that can attract tourists looking to explore the area.
  • Adaptable - As they are relatively small in size, bed and breakfasts can be easily adapted according to customer needs.

Online Travel Booking Website

An online travel booking website is a web platform that enables customers to book travel services such as flights, hotels, cars, and excursions. It is a great business idea as it offers:

  • Convenience to customers who can make their travel bookings anytime, without leaving their home
  • Wider access to products, making it easier for customers to compare and find the best deals available
  • Cost savings to business owners due to the automation of booking processes
  • Increased revenue opportunities through direct bookings and leveraging data-driven insights into customer preferences

Travel App

A travel app is an application that provides users with information and services related to travel. It offers features such as flight search, hotel booking, vacation planning, and recommendations for sightseeing and activities. It can also help users plan their trips in-advance and keep track of expenses or even provide guidance on local customs and etiquette. A travel app would make a great business idea because it offers:

  • Fast, easy access to a wide range of travel-related information
  • The ability to compare prices between different providers
  • Personalized travel advice tailored to the individual user's needs
  • The opportunity to build relationships with customers before, during, and after the trip
  • Streamlined booking processes for flights, hotels, rental cars, and more
  • Opportunities for monetization through advertising or subscription fees

Cruise Line/resort Travel Business

A cruise line/resort travel business is a business that specializes in organizing and selling cruises and resort package vacations. It makes for a great business idea as it has many benefits, including:

  • High Demand - Cruise and resort vacations are highly in demand and continue to rise in popularity.
  • Supportive Supplier Network - Suppliers are often willing to provide generous service level agreements and discounts.
  • Low Overhead Cost - There is little overhead cost due to the nature of the business.
  • High Profit Margins - Cruise and resort packages offer high margins when managed correctly.
  • Flexibility - The travel business can be tailored to customer's needs and budget.

Event Planning Services

Event planning services are businesses which specialize in organizing events, such as weddings, corporate events, conventions and other parties. They may provide services in event management, catering, décor, lighting, sound systems and music selection. Event planning services can be a great business idea as they offer a range of services to meet their client’s needs. Here are some benefits of starting an event planning service:

  • You can choose your own working hours
  • You can cater the service to your client's needs
  • You can build relationships with other businesses in the industry
  • You have the chance to work with memorable events
  • You have the opportunity to build a strong brand presence

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