Immerse in the travel and tourism industry that aims to offer enriching experiences and encourage sustainable global travel.
The travel and tourism industry has bounced back from COVID-19 and is picking up speed again. Its expected market growth and forecasted investment leap speak for themselves. The future of travel and tourism seems optimistic, powered by tech innovation and changing tourist’ preferences. And the industry has already started transforming the way we travel and experience the world.
As the industry recovers, its promising perspective and a heightened interest of investors open vast opportunities for travel and tourism startups to leverage:
Startups should remain pragmatic and understand that they’ll face numerous challenges on their way to success, such as fierce competition, customer hesitation, and funding hurdles.
We’re a one-stop shop for fundraising assistance, outsourced M&A advisory, business growth consultancy, and impeccable pitch deck design.
Check out our travel and tourism market research to discover industry trends, potential startup risks, and crucial tips on getting funding.
The travel and tourism market is set to reach $1.3T by 2032.
In 2023, the number of international tourists hit 80% of the levels seen before the pandemic.
In 2023, global tourist travel doubled compared to 2022.
In 2022, international tourism revenue hit $1T, up 50% from 2021.
Tourists feel safe to travel nowadays.
Having weathered the storm of COVID-19, the travel and tourism industry returns with new trends coming into play:
Eco-tourism: promoting green traveling and hotel initiatives for a more sustainable stay.
Uncharted destinations: a desire for off-the-beaten-path experiences like Colombia, El Salvador, etc.
Digital nomadism: traveling and working at the same time.
Wellness tourism: improving physical and mental health;
Multi-generational traveling: enjoying vacation with the whole family.
Experimental traveling: immersing in local culture, traditions, and history.
Why it matters: with a clear vision of industry trends, travel and tourism startups can innovate with confidence, cater to ever-changing customer needs, and secure a competitive edge in this dynamic environment.
So as not to lose out on success, startups should navigate the following challenges.
Low entry barriers attract lots of industry newcomers. And this makes the market highly saturated.
Stats: there are over 4K startups in the sphere of travel and tourism nowadays.
Competing with industry behemoths may lead to:
To capture a market share, travel and tourism startups need to:
The point is that the travel and tourism industry operates on thin profit margins. And it’s because of high marketing expenses, seasonal fluctuations, and substantial commission fees.
Tight profit margins may cause:
To address this challenge, founders need to:
No customer trust, no business growth. Client loyalty is pivotal for the travel and tourism industry.
Without customer trust, startups risk ending up like a one-time visit company rather than a repeat business. Plus, it may also:
To win tourists’ hearts, startups should:
The travel and tourism industry is one of the investors’ darlings.
Stats: by 2027, the travel and tourism industry is projected to attract nearly $22 billion in investments. Yet, fierce competition and possible economic slumps cast a shadow on this seemingly bright prospect.
If a startup loses out on fundraising, it usually leads to:
To nail down investments, travel and tourism startups need to:
Investors are highly interested in the travel and tourism industry because it’s resilient, has a fast-growing market, and promises high returns.
Nowadays, it may be quite challenging to secure the necessary funds for a travel and tourism startup. Yet, it’s possible, especially with the appropriate approach.
We typically finish everything in two to three weeks. However, during busy periods, it could stretch to a month. Please reach out to us for more detailed information.
Most travel and tourism startup pitch decks lack a persuasive investment storyline and a clear market decision. Plus, the absence of a robust business strategy and proof of progress. Like this, travel and tourism venture capitalists don’t get the full picture and may shift their focus to a more promising and urgent project.
The travel and tourism market is akin to a battlefield, with lots of companies trying to carve out a larger market share.
We help investors evaluate travel and tourism investment opportunities by conducting in-depth research and presenting valuable insights in a clear, visual format. Plus, we offer comprehensive fundraising services to travel and tourism and related companies in our portfolio.
Yes, we do! We provide travel and tourism M&A assistance by searching for promising deals, evaluating them, and guaranteeing seamless partnerships after the deal is finished.
Of course! We help link you up with the right venture capitalists in the travel and tourism space. By assessing your project’s team setup, round size, and product, we’ll guide you in partnering with investors throughout the entire deal and beyond.
Certainly! Our specialists deliver customized insights into the dynamic travel and tourism sector. Our in-depth research encompasses a thorough analysis of the industry landscape, competitive evaluations, and a broad market perspective, all designed to grant you a distinct edge. We leverage reliable data sources to help you recognize promising opportunities and potential challenges and identify current investment trends.
We ensure growth and fundraising guidance to the new market entrants, steering them right from the early Pre-Seed phase through Series C and beyond.
From end-to-end fundraising support to M&A advisory and growth hacking, Waveup will help catapult your travel and tourism project to new heights. Leave your email, and let's talk!
Dive deep into industry research with unparalleled depth and breadth
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Understand today’s trends and anticipate tomorrow’s shifts to ensure your business stays ahead