Tourism is a gigantic industry, from hospitality to food and beverage, tours, and plain consumerism. It really doesn’t matter if the tourists are relatively local or international, they tend to spend on their destination. The best part is that to “have the real experience”, these travellers choose more local and small establishments to consume.
Even though 2020 became a sucker punch for every industry, and 2021 won’t be as abundant as other years, holidaymakers are still a good way to take advantage of the season, either summer or winter.
To be ready to receive travellers from around the world, small businesses can recur to a working capital loan that covers the inventory or first big inversion of a holiday and pay it off with earnings throughout the season or year.
In some more popular places like London or other big cities, tourism is never short, but there are times in the year when more and more holidaymakers make their way to the country and, in doing so, help out the local economy. This is how.
Destinations get a steady income
Local pubs, souvenir shops, restaurants, and inns are normally a good business in the tourism industry, and if there is something of interest in the vicinity, said a monument, ruins, or an attraction, there is bound to be customers. It’s just a matter of knowing when and how much the high and low season will pour into the industry and, particularly, into your business and work with that.
Help job creation
As long as holidaymakers keep on coming, there will be job security for those in the industry. The more tourists, the better because there are more people to attend and, therefore, more jobs. Destination dwellers have a pretty good idea of how much crew needs to be hired in both low and high seasons to fulfil the market’s demand. Some people even work only on high season, while on school break, to help with expenses and save up.
Promote innovation and business opportunities
If you think hospitality is all there is in the industry, you lack imagination. Holidaymakers want to have fun, enjoy and take back home little items that remind them of their travel. Organising tours, shows, parties, selling souvenirs or experiences are just the tip of the iceberg of money earnings. The sky’s the limit to come up with new things for travellers to consume.
When a small business is used to the regular income that is created during the low season, they can take advantage of the high season extra income to invest this money into a bigger establishment, franchising or create new businesses. It’s a good way to spend money to make more money.
Reinvention of the wheel
The fact that a business works, doesn’t mean that it should stay the same. Holidaymakers are a great way for small businesses to create new value offers and stay relevant, invent a new menu, and basically, reinvent themselves during the low season. Also, travellers can share their own cultures with the locals, that could in turn, become a whole new offer, with dishes and activities closer to the tourist’s hearts.
There is no doubt that holidaymakers are the spine of the tourism industry and small businesses are part of that economic spill that comes with traveling. They bring authenticity to the experience and, in turn, get to make a good living out of it.
Some small business owners are even willing to forgo their own holidays and time off to take advantage of the situation. Especially now, that people are turning their eyes to buy local, quaint and real experiences and leaving behind big hotels for a more comfy place.
Don’t miss out on the opportunity to be part of an industry that, even though changes from week to week, is ever growing.
This content was originally published here.