Tourism Entrepreneurship: Importance and Types: Tourism Entrepreneurship can be defined as the business involving development and controlling a tourist company. No one can deny that tourism has grown significantly over the past few years. The curiosity among people to visit new places is increasing in most countries worldwide. Entrepreneurship has evolved greatly in the past few years, and the tourist industry isn’t an exception.
Also See: Corporate Entrepreneurship
Many important activities need to be performed to succeed as a tourism entrepreneur. People used to believe that it is pretty easy to generate huge profits as a travel entrepreneur, but the reality is beyond what anyone thinks. This post will talk about tourism entrepreneurship with a proper explanation.
What is the importance of entrepreneurship in tourism?
We can’t deny that tourism is a highly complex industry considered a distinct field. However, there are tremendous opportunities offered to entrepreneurs for developing businesses. They can create a great source of income by boosting their working capacity. We all know entrepreneurs think differently when compared with normal people.
The same goes for the tourism industry, where entrepreneurship can play a significant role, considering the present competition. Even the government of many nations has offered multiple benefits to the new entrepreneurs looking to establish a new business in the tourism industry. So, we want to suggest here that entrepreneurship is critical for developing the tourist.
Also See: Barriers to Entrepreneurship
There are tremendous new ideas presented by entrepreneurs that can be extremely useful in the long run. For e.g., companies started a commercial expedition to Mount Everest that significantly boosted Nepal’s economy. You can find many other examples where entrepreneurs completely revolutionized the tourist industry.
What are the major types of tourism entrepreneurship?
Tourism entrepreneurship is mainly classified into four different categories. Although there are many other options, we will mention the major ones here.
- Tour Operators
A tour operator combines various travel components like hotels, transportation, and other similar things to provide a single package to the customers.
- Travel Agents
A travel agent can be defined as an individual who makes travel arrangements for clients, including groups, corporations, and individuals. They work individually rather than a company that is commonly the case with tour operators.
Also See: Rural Entrepreneurship
- Transport Operators
These are the ones who offer formal transport solutions to the tourists. It can be giving rental homes or arranging tickets for their travel.
- Guiding
Another prominent type of tourism entrepreneurship is guiding the other individuals for travelling and other similar prospects. It is a popular work performed by ticketing agents, holiday sellers, etc.
Are there enough opportunities in the tourism sector?
If you talk about the present era, there are tremendous opportunities offered by the tourism industry for young entrepreneurs. You can easily find potential in various markets for business events, meetings, and traveling. There are many amazing things entrepreneurs can do to create a strong business. Tourism is an important activity that boosts a country’s economy, considering the plethora of opportunities provided by it. However, the resources need to be acquired and managed in a proper manner.
Also See: Difference Between Intrapreneur and Entrepreneur
So it was all about tourism entrepreneurship, its importance and examples.
