Investing in Travel: Smart Ways You Can Make Money in the Tourism Industry

Investing in Travel: Smart Ways You Can Make Money in the Tourism Industry
  • Opening Intro -

    People love to travel.

    Whether it be for business or pleasure, you can always find individuals and families boarding flights and loading into the car to take off to vacation and business destinations.

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While travel paused for a while because of COVID, many borders are open now, and people are catching up on the travel they missed during the pandemic. That makes this a good time to start investing in the tourism industry.

By investing wisely, you can take advantage of growth in the market over the next few years.

Rent Out Campers and RVs

Vanlife has gotten popular over the past few years. Now, instead of renting hotel rooms, many people are renting vans, campers, and RVs for their road trips. This is often more affordable and gets them closer to nature and the sites they want to visit.

You can tap into this money-making industry by renting out your personal RV to travelers. This is an easy way to make money on something you already own.

Alternatively, you can invest in a few camper trailers with the intent of renting them out. There are online sites that cater to this business, allowing you to list your camper for consumers to view and reserve.

While you may need to get some extra insurance for your RV, often you can get this through the site you use to post your RV. Renting your RV to interested travelers can help cover your own monthly costs of owning and can help you build up some extra cash too.

Invest in an RV Park

Even if you’re not renting out your personal RV, you can make money from catering to RV travelers. RV travelers need somewhere to park each night so that they can rest and prepare for the next leg of their journey.

You can provide this by investing in an RV park. These are places that will always be in demand because they are necessary whether people are traveling for pleasure or living in an RV permanently as a cheaper alternative to a house.

RV parks and campgrounds don’t require too much maintenance. Additionally, because demand varies based on the season, you will have plenty of time to travel yourself during your park’s off season.

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You can talk to an RV park broker about this kind of investment.

Rent Out Your Timeshare

Timeshares have gotten a slightly negative reputation over the years. However, you can use yours to make money.

Similar to sites for renting out your home, there are websites that will allow you to list your timeshare residence as a vacation rental, giving you a way to make money on your unused vacancies. This helps you cover the annual cost of your timeshare and make profit for yourself.

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Invest in Travel Technology Business

More people than ever are booking their vacations and other travel needs online. Using sites such as Expedia and Travelocity, they are able to find the best prices on hotels.

Rideshare and rental car websites also make it easy for tourists to book their rides or vehicles online. Now you can invest in this travel technology similarly to how you invest in other stocks. You can tap into this industry by utilizing companies such as CodeGen and AWAY.

Travel is booming since restrictions have been lifted following the pandemic, and it’s expected to keep growing. You can invest in this lucrative industry by renting out property you already own for camping and vacationing and by purchasing new stock options.

Get started today, and watch your money grow.

Image Credit: by twenty20.com

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