The tourism sector is growing rapidly in the last few decades. It has also given rise to many Travel and tourism industry across the world. If you look at the statistics, there are more than 200 million people employed in this sector and the sector earns more than $500 Billion every year. Take Expedia as an example. On the year 2016 alone, it earned more than $60 billion by booking of tickets, running websites for booking of hotels and accommodation etc. This trend will continue to rise in the years to come since the world is becoming closer due to the advancement of technology.
How much do travel agents earn?
First, I would like to mention that many universities across the world are offering degrees related to the Travel and Tourism industry. You can find many online courses in iata.org if you want to enhance your skills and knowledge for building a career in this industry which is growing like clockwork. Just go to the website and enroll for any course relevant to the Travel and tourism industry. You can learn anything from how to become entry-level travel agent to work at the senior management level.
The starting salary of a travel agent in the U.S starts from $30000 per year and it gradually increases as time passes. If you are living in a South Asian country, your earnings can be less but still good enough.
Source of their income
They earn most of their money from can rental booking, cruise lines, hotels, railways and many types of tours. In other words, they get a commission based upon the price of the product sold. Besides this, they earn certain bonuses, benefits, and other incentives.
Some big names in the industry
I have compiled the list of the largest Travel and tourism industry in the world. They are listed below:
Regency Travel & Tours
Based in Qatar, it earned the reward for the leading travel Agency in the world in 2016. It will help you to book the cheapest flights, find the best accommodation and also help you with car rental. They also have many attractive packages for the customers.
The Global Work & Travel Co
It is a travel agency which is more appealing to the youth. It is based in Australia and has offices in Canada UK as well. It has dealt with around 25000 passengers so far. The best feature about their service is that they offer working holidays, fun-filled adventure, and internships for the youth, and opportunities for volunteer work and many other things for the young people in at least 40 countries all over the world.
Al Naboodah Travel & Tourism Agencies LLC
One of the oldest agencies for tourism and travel in the UAE, it is a trusted brand in the industry. They have connections with almost all of the major airlines in the world.
If you are wondering about its accreditation, it is fully accredited by the IATA and also a member of the Travel and tourism industry Council. It is also certified by the ISO.
HRG in North America
When I went to Germany this year, my ticket was booked by the HRG agency. They also have an office in Germany. They are among the top 10 travel agencies in the world which earned around $16 billion on 2016 alone.
Who would not have heard of Expedia, the biggest name in the industry? I am sure that you must have come across the name at least once during your search on the internet. With annual earnings of around $60 billion in 2016, it is projected to grow by more than 8% every year.
It is well known for owning a lot of travel brands all over the world. Their main business is from websites which deal with travel fare, travel meta search engines Hotels.com, Orbitz, and HomeAway, etc. It was nominated for the travel agency of the year for 2016 but lost the prize to regency Travel & Tours from Qatar.
Carlson Wagonlit Travel
Based in Europe, it has its headquarters in Paris. Keep it in mind that they serve the “elite” customers, i.e. businessmen, special meetings and events for companies, and members of the government and Non-Governmental Organizations.
Can I set up my own industry?
Yes, you can. It is a very popular profession which is gaining ground. Many young people are doing this by themselves or working for an agency. Since this sector has seen a lot of changes in the past few decades, many people are switching to consultancy related to tourism based on cultures and the ocean.
Here are some of my tips on how you can set up your own industry related to tourism and travel
- The tourism sector has many options for you to choose from. For example, you can be a tour guide, start your own travel agency, run a business by arranging hotel and accommodation for tourist etc. Whatever you decide, make sure that it has demand in the market.
- Make sure that you do research on your competitors in the area of the industry you want to focus on. Do not go for a business with too much competition.
- The third step involves creating a plan for your business. Make sure that it contains vital information such as the business’s purpose and also take into factor the location, number of people to be employed and also the competition.
- Decide what services you will provide to your customers. Will it be just providing information for them or will you be doing everything starting from booking the flight to arranging a hotel to stay?
- You cannot do anything without money. Make a rough calculation on your expected expenses and look for potential investors.
- Once you have got the money, apply for a business license and start the marketing procedure.
Starting a career in the industry will not be so easy at the beginning since there are lots of competitors whom you will need to overcome. But if you have a desire to start one by yourself, you have to be very patient. If you not have that, I will suggest that you drop your CV in one of the leading Travel agencies. You May interested in Travel Agencies Online