tourism is a multi billion dollar business

"People want to travel": 4 sector leaders say that tourism will change and grow

The global travel and tourism industry's post-pandemic recovery is gaining pace as the world’s pent-up desire for travel rekindles. Image: Unsplash/Anete Lūsiņa

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Shinya katanozaka, gilda perez-alvarado, stephen kaufer.

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In 2020 alone, the travel and tourism industry lost $4.5 trillion in GDP and 62 million jobs - the road to recovery remains long.
The World Economic Forum’s latest Travel & Tourism Development Index gives expert insights on how the sector will recover and grow.
We asked four business leaders in the sector to reflect on the state of its recovery, lessons learned from the pandemic, and the conditions that are critical for the future success of travel and tourism businesses and destinations.

The global travel and tourism sector’s post-pandemic recovery is gaining pace as the world’s pent-up desire for travel rekindles. The difference in international tourist arrivals in January 2021 and a similar period in January 2022 was as much as the growth in all of 2021. However, with $4.5 trillion in GDP and 62 million jobs lost in 2020 alone, the road to recovery remains long.

A few factors will greatly determine how the sector performs. These include travel restrictions, vaccination rates and health security, changing market dynamics and consumer preferences, and the ability of businesses and destinations to adapt. At the same time, the sector will need to prepare for future shocks.

The TTDI benchmarks and measures “the set of factors and policies that enable the sustainable and resilient development of the T&T sector, which in turn contributes to the development of a country”. The TTDI is a direct evolution of the long-running Travel and Tourism Competitiveness Index (TTCI), with the change reflecting the index’s increased coverage of T&T development concepts, including sustainability and resilience impact on T&T growth and is designed to highlight the sector’s role in broader economic and social development as well as the need for T&T stakeholder collaboration to mitigate the impact of the pandemic, bolster the recovery and deal with future challenges and risks. Some of the most notable framework and methodology differences between the TTCI and TTDI include the additions of new pillars, including Non-Leisure Resources, Socioeconomic Resilience and Conditions, and T&T Demand Pressure and Impact. Please see the Technical notes and methodology. section to learn more about the index and the differences between the TTCI and TTDI.

The World Economic Forum's latest Travel & Tourism Development Index highlights many of these aspects, including the opportunity and need to rebuild the travel and tourism sector for the better by making it more inclusive, sustainable, and resilient. This will unleash its potential to drive future economic and social progress.

Within this context, we asked four business leaders in the sector to reflect on the state of its recovery, lessons learned from the pandemic, and the conditions that are critical for the future success of travel and tourism businesses and destinations.

tourism is a multi billion dollar business

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Are you a 'bleisure' traveller, what is a ‘vaccine passport’ and will you need one the next time you travel, a travel boom is looming. but is the industry ready, how to follow davos 2022, “the way we live and work has changed because of the pandemic and the way we travel has changed as well”.

Tony Capuano, CEO, Marriott International

Despite the challenges created by the COVID-19 pandemic, the future looks bright for travel and tourism. Across the globe, people are already getting back on the road. Demand for travel is incredibly resilient and as vaccination rates have risen and restrictions eased, travel has rebounded quickly, often led by leisure.

The way many of us live and work has changed because of the pandemic and the way we travel has changed as well. New categories of travel have emerged. The rise of “bleisure” travel is one example – combining elements of business and leisure travel into a single trip. Newly flexible work arrangements, including the opportunity for many knowledge workers to work remotely, have created opportunities for extended travel, not limited by a Monday to Friday “9 to 5” workweek in the office.

To capitalize on this renewed and growing demand for new travel experiences, industry must join governments and policymakers to ensure that the right conditions are in place to welcome travellers as they prepare to get back on the road again, particularly those who cross international borders. Thus far, much of the recovery has been led by domestic and leisure travel. The incremental recovery of business and international travel, however, will be significant for the broader industry and the millions who make their livelihoods through travel and tourism.

Looking ahead to future challenges to the sector, be they public health conditions, international crises, or climate impacts, global coordination will be the essential component in tackling difficult circumstances head-on. International agreement on common – or at least compatible – standards and decision-making frameworks around global travel is key. Leveraging existing organizations and processes to achieve consensus as challenges emerge will help reduce risk and improve collaboration while keeping borders open.

“The travel and tourism sector will not be able to survive unless it adapts to the virtual market and sustainability conscience travellers”

Shinya Katanozaka, Representative Director, Chairman, ANA Holdings Inc.

At a time when people’s movements are still being restricted by the pandemic, there is a strong, renewed sense that people want to travel and that they want to go places for business and leisure.

In that respect, the biggest change has been in the very concept of “travel.”

A prime example is the rapid expansion of the market for “virtual travel.” This trend has been accelerated not only by advances in digital technologies, but also by the protracted pandemic. The travel and tourism sector will not be able to survive unless it adapts to this new market.

However, this is not as simple as a shift from “real” to “virtual.” Virtual experiences will flow back into a rediscovery of the value of real experiences. And beyond that, to a hunger for real experiences with clearer and more diverse purposes. The hope is that this meeting of virtual and actual will bring balance and synergy the industry.

The pandemic has also seen the emergence of the “sustainability-conscious” traveller, which means that the aviation industry and others are now facing the challenge of adding decarbonization to their value proposition. This trend will force a re-examination of what travel itself should look like and how sustainable practices can be incorporated and communicated. Addressing this challenge will also require stronger collaboration across the entire industry. We believe that this will play an important role in the industry’s revitalization as it recovers from the pandemic.

How is the World Economic Forum promoting sustainable and inclusive mobility systems?

The World Economic Forum’s Platform for Shaping the Future of Mobility works across four industries: aerospace and drones; automotive and new mobility; aviation travel and tourism; and supply chain and transport. It aims to ensure that the future of mobility is safe, clean, and inclusive.

Through the Clean Skies for Tomorrow Coalition , more than 100 companies are working together to power global aviation with 10% sustainable aviation fuel by 2030.
In collaboration with UNICEF, the Forum developed a charter with leading shipping, airlines and logistics to support COVAX in delivering more than 1 billion COVID-19 vaccines to vulnerable communities worldwide.
The Road Freight Zero Project and P4G-Getting to Zero Coalition have led to outcomes demonstrating the rationale, costs and opportunities for accelerating the transition to zero emission freight.
The Medicine from the Sky initiative is using drones to deliver vaccines and medicine to remote areas in India, completing over 300 successful trials.
The Forum’s Target True Zero initiative is working to accelerate the deployment and scaling of zero emission aviation, leveraging electric and hydrogen flight technologies.
In collaboration with the City of Los Angeles, Federal Aviation Administration, and NASA, the Forum developed the Principles of the Urban Sky to help adopt Urban Air Mobility in cities worldwide.
The Forum led the development of the Space Sustainability Rating to incentivize and promote a more safe and sustainable approach to space mission management and debris mitigation in orbit.
The Circular Cars Initiative is informing the automotive circularity policy agenda, following the endorsement from European Commission and Zero Emission Vehicle Transition Council countries, and is now invited to support China’s policy roadmap.
The Moving India network is working with policymakers to advance electric vehicle manufacturing policies, ignite adoption of zero emission road freight vehicles, and finance the transition.
The Urban Mobility Scorecards initiative – led by the Forum’s Global New Mobility Coalition – is bringing together mobility operators and cities to benchmark the transition to sustainable urban mobility systems.

“The tourism industry must advocate for better protection of small businesses”

Gilda Perez-Alvarado, Global CEO, JLL Hotels & Hospitality

In the next few years, I think sustainability practices will become more prevalent as travellers become both more aware and interested in what countries, destinations and regions are doing in the sustainability space. Both core environmental pieces, such as water and air, and a general approach to sustainability are going to be important.

Additionally, I think conservation becomes more important in terms of how destinations and countries explain what they are doing, as the importance of climate change and natural resources are going to be critical and become top of mind for travellers.

The second part to this is we may see more interest in outdoor events going forward because it creates that sort of natural social distancing, if you will, or that natural safety piece. Doing outdoor activities such as outdoor dining, hiking and festivals may be a more appealing alternative to overcrowded events and spaces.

A lot of lessons were learned over the last few years, but one of the biggest ones was the importance of small business. As an industry, we must protect small business better. We need to have programmes outlined that successfully help small businesses get through challenging times.

Unfortunately, during the pandemic, many small businesses shut down and may never return. Small businesses are important to the travel and tourism sector because they bring uniqueness to destinations. People don’t travel to visit the same places they could visit at home; they prefer unique experiences that are only offered by specific businesses. If you were to remove all the small businesses from a destination, it would be a very different experience.

“Data shows that the majority of travellers want to explore destinations in a more immersive and experiential way”

Steve Kaufer, Co-Founder & CEO, Tripadvisor

We’re on the verge of a travel renaissance. The pandemic might have interrupted the global travel experience, but people are slowly coming out of the bubble. Businesses need to acknowledge the continued desire to feel safe when travelling. A Tripadvisor survey revealed that three-quarters (76%) of travellers will still make destination choices based on low COVID-19 infection rates.

As such, efforts to showcase how businesses care for travellers - be it by deep cleaning their properties or making items like hand sanitizer readily available - need to be ingrained within tourism operations moving forward.

But travel will also evolve in other ways, and as an industry, we need to be prepared to think digitally, and reimagine our use of physical space.

Hotels will become dynamic meeting places for teams to bond in our new hybrid work style. Lodgings near major corporate headquarters will benefit from an influx of bookings from employees convening for longer periods. They will also make way for the “bleisure” traveller who mixes business trips with leisure. Hotels in unique locales will become feasible workspaces. Employers should prepare for their workers to tag on a few extra days to get some rest and relaxation after on-location company gatherings.

Beyond the pandemic, travellers will also want to explore the world differently, see new places and do new things. Our data reveals that the majority want to explore destinations in a more immersive and experiential way, and to feel more connected to the history and culture. While seeing the top of the Empire State building has been a typical excursion for tourists in New York city, visitors will become more drawn to intimate activities like taking a cooking class in Brooklyn with a family of pizza makers who go back generations. This will undoubtedly be a significant area of growth in the travel and tourism industry.

Governments would be smart to plan as well, and to consider an international playbook that helps prepare us for the next public health crisis, inclusive of universal vaccine passports and policies that get us through borders faster.

Understanding these key trends - the ongoing need to feel safe and the growing desire to travel differently - and planning for the next crisis will be essential for governments, destinations, and tourism businesses to succeed in the efforts to keep the world travelling.

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Executive Summary

1 introduction, 2 global travel and tourism, 3.1 general, 3.2 key details for 2019, 3.3 travel by canadians, 3.4 indigenous tourism, 3.5 canada–united states tourism, 3.6 international competitiveness, 4.1 destination canada, 4.2 federal tourism strategy, 4.3.1 2008–2013, 4.3.2 2016–2017, 4.3.3 2019, 4.3.4 2021, 4.4 other government players, 5 looking ahead.

Canada’s multi-billion-dollar tourism sector employs hundreds of thousands of Canadians and is supported by all levels of government.

In 2020, due to the COVID-19 pandemic, global tourism and travel sector revenue decreased by 49% from the previous year, to US$4.7 trillion. Global tourism employment fell by 19% to 272 million jobs. Similarly, the Canadian sector earned $49.5 billion in 2020, a decline of 40% from 2019, while domestic employment fell to 1.6 million direct and indirect jobs, a decrease of 24%. About 28% of Canadian tourism revenue is generated from inbound visits.

In 2019, Canadians made 37.8 million foreign trips consisting mainly of 27.1 million visits to the United States. Additionally, Canadians made 10.7 million trips to other countries, most frequently Mexico (1.8 million), Cuba (964,000), the United Kingdom (770,000), China (666,000) and Italy (619,000).

According to the World Economic Forum’s Travel & Tourism Competitiveness Report 2019 , which ranks the most competitive countries for travel and tourism, Canada ranked ninth out of 140 countries studied, down from eighth place in 2013. Canada ranked first in several sub-categories, such as safety and security, environmental sustainability and air transport infrastructure. Conversely, Canada was found to be deficient in several areas, including price competitiveness and international openness.

Other studies have found that tourism demand is concentrated in Canada’s largest cities, with Toronto, Vancouver and Montréal accounting for 75% of overall visitors and most of this activity taking place during the summer months. There are also challenges stemming from labour shortages, a lack of investment and promotion, and a lack of coordination of tourism policy between all levels of government.

Destination Canada (formerly the Canadian Tourism Commission) is a federal Crown corporation responsible for national tourism marketing and is governed by the Canadian Tourism Commission Act . In 2019, the federal government announced Creating Middle Class Jobs: A Federal Tourism Growth Strategy , which is based on the following three pillars: building tourism in Canada’s communities; attracting investment to the visitor economy; and renewing the focus on public-private collaboration.

Between 2008 and 2020, the federal government invested approximately $1 billion in the tourism industry. In 2021, it announced another $1 billion in funding, including the Tourism Relief Fund.

If international borders continue to reopen and the industry continues its steady overall growth of the recent years prior to the pandemic, it will again contribute to Canada’s economic well-being. And although the United States continues to be Canada’s biggest tourism trading partner, stakeholders might continue their efforts of focusing on more growth-oriented, lucrative emerging markets to better diversify tourism interests to help Canada fulfil its tourism potential.

Canada’s tourism industry is an important contributor to Canadian economic growth. This industry – which comprises hospitality and travel services to and from Canada – is a multi-billion-dollar business that employs hundreds of thousands of Canadians and is supported by all levels of government. This HillStudy provides information about Canada’s tourism industry, travel patterns of visitors to and from Canada, the importance of the United States (U.S.) to Canada’s tourism economy and the role of the federal government.

The global tourism sector suffered substantial declines in activity due to the COVID-19 pandemic. Since this HillStudy incorporates data from 2019 and 2020, special attention should be paid to both explicit tourism figures and relative comparisons to previous years due to the extraordinary effects of the pandemic.

According to the Tourism Industry Association of Canada, “travel and tourism” includes “transportation, accommodations, food and beverage, meetings and events, and attractions,” such as festivals, historical/cultural institutions, theme parks and nature settings. 1

The World Travel & Tourism Council’s latest annual research explains the COVID 19 pandemic’s impact on the global travel and tourism sector:

The sector suffered a loss of almost US$4.5 trillion in revenues worldwide, standing at US$4.7 trillion in 2020.
In 2019, the sector contributed 10.4% to the global gross domestic product (GDP); this decreased to 5.5% in 2020 due to ongoing mobility restrictions.
In 2020, 62 million jobs were lost, representing a drop of 18.5% of global sectoral employment, leaving just 272 million employed compared to 334 million in 2019.
Globally, domestic visitor spending decreased by 45% and international visitor spending declined by 69.4%. 2

3 The Canadian Tourism Industry: Facts and Figures

Only about 28% of Canadian tourism revenue (about $21.3 billion) is generated from inbound visits. The remainder represents domestic spending – i.e., what Canadians spend on domestic and foreign tourism activities. Table 1 provides further information about the industry’s recent performance.

Note: Domestic spending includes spending while on a trip in Canada, spending on airfares with Canadian carriers on outbound trips and spending on tourism-related goods, e.g., camping equipment. International spending includes spending while on a trip in Canada but excludes any pre-trip purchases. GDP refers to gross domestic product.

There are two ways to categorize jobs in tourism:

Jobs in tourism-dependent industries – the total number of jobs in industries where a significant portion of the revenue is in tourism; this includes accommodation, passenger transportation, food and beverage, entertainment and recreation, and travel services.
Jobs directly supported by tourism – the share of jobs in the economy servicing visitors as opposed to local clients. These are jobs that would not exist without visitors; e.g., in food and beverage, a certain portion caters to local clients, and the portion that caters to visitors is captured in this number.

Figure 1 provides further details about international arrivals to Canada.

Figure 1 – Selected Information on International Arrivals to Canada

This figure shows the change between 2019 and 2020 of the value of tourism in Canada (from $23.1 billion to $4 billion); the total number of overnight arrivals of non-residents (from 22,145,406 to 2,959,885); the number of overnight arrivals from overseas (from 7,140,864 to 1,031,096); and the number of overnight arrivals from the United States (from 15,004,542 to 1,928,789). Typically, over 50% of United States visitors arrive by automobile.

According to Destination Canada, prior to the pandemic, Canada benefited from the fact that the tourism sector was booming globally. Since 2000, tourism has been growing approximately three to four times faster than the global population and about 1.5 times faster than the overall global GDP . Furthermore, notwithstanding the COVID-19 pandemic, this was expected to continue into the mid-2020s. In fact, 2017’s travel and tourism sector growth of 4.6% exceeded the global GDP growth rate of 3.7%; that is, for the seventh successive year, the sector outpaced global GDP growth, which itself had the strongest growth a decade. 3

However, even with this strong performance, Canada’s tourism industry potential remains significantly underdeveloped. Specifically, even though it has outpaced global population and GDP growth, Canadian tourism growth has lagged behind global tourism growth for several years (see section 3.6 of this Hill Study). 4

Moreover, tourism represents a much smaller fraction of Canada’s exports when compared to peer countries such as the U.S., Japan, the United Kingdom and Australia. Studies suggest there is an opportunity for Canada to more than double its international arrivals and associated revenues by 2030. 5 This could be achieved, in part, by capitalizing on “substantial opportunities to increase the number of tourists to Canada from the United Kingdom, China, France, Germany and Australia.” 6

Beyond its role in helping to create revenue and both direct and indirect jobs in the Canadian tourism industry, the efficient promotion of tourism can be seen as a valuable investment in Canada’s overall economy. A 2013 Deloitte study has shown that “a rise in business or leisure travel between countries can be linked to subsequent increases in export volumes to the visitors’ countries.” 7

In 2019, the Canadian tourism sector had its best year on record, reaching 22.1 million international overnight arrivals, a 4.8% increase over the previous year. Similar to other years, the vast majority (67.7%) came from the U.S.; the top three non-U.S. sources of visitors were the U.K. (875,632), China (715,474) and France (668,490). 8

Destination Canada reported that “air and sea arrivals from the Europe region were mostly on par with 2018 levels, with the exception of France, which led the region (+7.0%).” 9 However, there were mixed results from the Asia-Pacific region as the biggest decline came from the region’s largest market, China (-9.1% in air and sea arrivals), with smaller downward trends from Japan (-1.9%) and Australia (-0.4%). More positively, air and sea arrivals from South Korea were slightly ahead of 2018 levels, while India led the region in year-over-year growth (+9.1%). 10

In North America, the U.S. provided an increase in arrivals on overnight trips entering Canada by air and auto of 6.4%. Mexico was the only one of Destination Canada’s long-haul markets to record double-digit year-over-year growth in overnight arrivals by air and sea (12.3%) in 2019. 11

Canada’s rising popularity among Chinese travellers is particularly noteworthy, as China is now Canada’s second-largest overseas tourism source after the U.K. 12 This is partly attributable to Canada’s having been granted Approved Destination Status by the Chinese government. In 2018, Canada welcomed a record 737,000 Chinese tourists, “surpassing the 700K mark for the first time and doubling the number of annual travellers since 2013, with an average annual growth rate of 16%.” 13 Travelling mainly during July and August, “Chinese tourists spend on average about $2,850 per trip to Canada, staying for around 30 nights.” 14

In 2019, Canadians made 37.8 million foreign trips consisting mainly of 27.1 million visits to the U.S. Although travel to the U.S. declined by 2.3% in 2019 compared to 2018, Canadians “spent $21.1 billion on their trips to the United States in 2019, up 4.8% from a year earlier.” 15

Additionally, Canadians made 10.7 million trips to other countries, the most common of which were Mexico (1.8 million), Cuba (964,000), the U.K. (770,000), China (666,000) and Italy (619,000). 16

Canadians also enjoy travelling within the country, making 275 million domestic trips in 2019, down 1.0% from 2018. Spending on trips within Canada declined 0.3% year over year to $45.9 billion. 17 The top locations were Ontario (116.5 million visits), Quebec (56.9 million visits), British Columbia (34.2 million) and Alberta (32.4 million); this includes both intra and inter-provincial/territorial domestic travel. 18

Canada’s Indigenous tourism sector is diverse and comprises different business models. Although its key drivers of employment and GDP come from air transportation and resort casinos, “it is the cultural workers, such as Elders and knowledge keepers, who define many of the authentic Indigenous cultural experiences available to tourists in Canada.” 19 Moreover, when compared with Indigenous tourism enterprises without a cultural focus, those involved in cultural tourism rely more on visitors from foreign markets as part of their customer base.

Prior to the pandemic, Canada’s Indigenous tourism sector had been rapidly outpacing overall Canadian tourism activity. Specifically, the Indigenous tourism sector’s GDP rose 23.2% between 2014 and 2017, reaching $1.7 billion. 20

Lastly, Indigenous tourism businesses cite access to financing as well as marketing support and training as some of the main barriers to growth. 21

Given its proximity and long shared border, the U.S. is by far the biggest source of Canada’s tourism visitors: in 2018, about two-thirds of all foreign visitors were Americans, 57% of whom arrived by automobile. 22 The U.S. is also the most visited foreign destination by Canadians.

U.S. arrivals to Canada reached 14.44 million in 2018, up 1% over 2017 and the highest level recorded since 2004. American tourists like to take advantage of their long weekends for travel, with Memorial Day (the last Monday in May), Independence Day (4 July) and Labour Day (the first Monday in September) contributing to the largest weekend spikes in road arrivals in 2018. 23

Americans spend around $700 per trip to Canada, staying an average of five nights. In 2018, they preferred mainly nature-based activities, including natural attractions, hiking or walking in nature, and viewing wildlife. 24

As shown in Figure 2, analysis of various factors over a 20-year period shows that the number of Americans travelling to Canada relates more to the Canadian/U.S. dollar exchange rate than to changes in the U.S. GDP .

Figure 2 – Index Comparing the Number of U.S. Visits to Canada, the Canadian/U.S. Dollar Exchange Rate and the Change in the U.S. Gross Domestic Product (GDP), 2000–2019 (2000 = 100)

This figure is a line graph showing three lines corresponding to the change between 2000 and 2019 in the number of U.S. visitors to Canada, the Canadian dollar to U.S. dollar exchange rate and the U.S. gross domestic product. The lines for the number of U.S. visitors to Canada and the Canadian dollar to U.S. dollar exchange rate follow one another closely, while the line for the change in U.S. gross domestic product does not and has its own slope.

Source: Figure prepared by the Library of Parliament using data obtained from Statistics Canada, “ Chart 1: Tourists to Canada from abroad, annual ,” The Daily , 20 February 2020; Federal Reserve Bank of St. Louis, “ Canadian Dollars to U.S. Dollar Spot Exchange Rate ,” FRED, Database, accessed 20 August 2021; and World Bank, “ GDP (constant 2010 US$) – United States ,” Database, accessed 20 August 2021.

According to the World Economic Forum’s Travel & Tourism Competitiveness Report 2019 , Canada ranked ninth out of 140 countries studied, down from eighth place in 2013. 25 Canada was ranked first in several sub-categories, such as safety and security, environmental sustainability and air transport infrastructure.

In contrast, Canada was found to be deficient in several areas, such as price competitiveness and international openness (e.g., visa requirements, air service agreements).

A 2018 report further indicated the following challenges facing the Canadian tourism sector:

CONCENTRATED DEMAND – Toronto, Vancouver and Montréal (Canada’s three largest cities) account for 75% of all visitors, and most of this activity takes place during the summer months. Plus, 70% of visitors to Canada come from the U.S., making the sector very vulnerable to the vagaries of the American economy.
ACCESS – Coming to (and travelling within) Canada can be expensive, difficult and time-consuming; this is true for travel both inter-regionally (e.g., visiting a national park from a large city) and within urban centres.
LABOUR SHORTAGES – Similar to many sectors that service the public, the tourism industry has been facing labour shortages for some time. In fact, this sector “could face a shortage of 120,000 people by the mid-2020s, and up to 230,000 people by 2030.”
LACK OF INVESTMENT/PROMOTION – As hotels face up to 95% occupancy during the summer months, there are insufficient room-nights for additional large-attendance events such as conventions, conferences and festivals. Also, compared to peer countries, Canada spends less on marketing and promotion per international tourist arrival (in some cases up to 20% less). One of the contributing factors is that most tourism businesses are small enterprises that face difficulties in securing capital.
GOVERNANCE – Given that the sector is extremely diverse and made up of many destinations in different regions, successful efforts for one region or operator will not necessarily carry over to other parts of the country or service providers. Also, as tourism policies and programs are spread across numerous organizations within every level of government, making a well-coordinated and integrated Canadian approach is difficult. 26

These assessments suggest that even though Canada is doing well in certain areas, other jurisdictions may be greatly improving their ability to attract international tourism. Changing trends in consumer preferences may also play a role in determining which destinations may be more popular than others at any particular time.

4 The Role of the Federal Government

Destination Canada is a federal Crown corporation responsible for national tourism marketing and is governed by the Canadian Tourism Commission Act . It targets the following markets “where Canada’s tourism brand leads and yields the highest return on investment”: Australia, Canada, China, France, Germany, Japan, Mexico, the U.K. and the U.S. 27

In 2019, the federal government announced its new tourism strategy entitled Creating Middle Class Jobs: A Federal Tourism Growth Strategy . It is based on the following three pillars:

BUILDING TOURISM IN CANADA’S COMMUNITIES – expand from the concentration of international visitors to Canada’s three largest cities over a few (mostly summer) months by helping communities “exploit and develop the characteristics that make them special. In so doing, they will be better able to convince tourists to get off the beaten path, explore the lesser-known parts of the country, and to visit during the off-peak seasons.”
ATTRACTING INVESTMENT TO THE VISITOR ECONOMY – to combat the lack of investment in Canada’s tourism sector, the strategy aims to improve coordination among jurisdictions and help attract private investment by establishing “Tourism Investment Groups in every region of Canada to enable the development of impactful tourism projects, including large-scale destination projects.”
RENEWING THE FOCUS ON PUBLIC–PRIVATE COLLABORATION – with the establishment of the Economic Strategy Table for Tourism, the federal government aims to stimulate and sustain growth in Canada’s tourism sector by working collaboratively with industry to ensure that tourism is on the front lines of economic policy making. This could include addressing “the high cost of travelling to and within Canada, labour shortages and the lack of investment. It could also look at competitiveness, sustainability, the sharing economy and digital platforms.” 28

Part of the focus on improving tourism has been improving accessibility. To that end, in 2018, the Government of Canada introduced Bill C-81, the Accessible Canada Act , which “aims to achieve a barrier-free Canada through the proactive identification, removal, and prevention of barriers to accessibility in all areas under federal jurisdiction, including transportation services such as air and rail.” 29 The bill received Royal Assent in 2019.

4.3 Federal Funding Initiatives

In 2008–2009, the federal government invested over $500 million in the tourism industry to develop facilities and events, and to promote tourism. This is in addition to investments in other areas that affect tourism, such as improvements for Parks Canada and border services. 30 In 2013, funding of $42 million was allocated to improve visa services, 31 an area where Canada has been found to be deficient.

Since 2016, the regional development agencies have allocated over $196 million to tourism businesses, and the Business Development Bank of Canada has provided more than $1.4 billion in financing. Export Development Canada assists Canadian tourism businesses that aim to expand into global markets. 32 Budget 2017 provided Destination Canada with permanent funding of $95.5 million per year for tourism-related work, up from $58 million. 33

Budget 2019 announced that starting in 2019–2020, $58.5 million over two years would go towards the creation of a Canadian Experiences Fund. The Fund supports “Canadian businesses and organizations seeking to create, improve or expand tourism-related infrastructure—such as accommodations or local attractions—or new tourism products or experiences.” These investments would focus on tourism in rural and remote communities, Indigenous tourism, winter tourism, inclusiveness (especially for the LGBTQ2 communities) and farm-to-table/culinary tourism. 34

Additionally, Budget 2019 included $5 million to Destination Canada for a “tourism marketing campaign that will help Canadians to discover lesser-known areas, hidden national gems and new experiences across the country.” 35

Budget 2019 also included the establishment of the Economic Strategy Table dedicated to tourism, which will bring together “government and industry leaders to identify economic opportunities and help guide the Government in its efforts to provide relevant and effective programs for Canada’s innovators.” 36

Announced in Budget 2021, the Tourism Relief Fund is a $500 million national program that is part of a $1 billion package to support the Canadian tourism sector. 37 Its goal is to position Canada as a destination of choice when domestic and international travel is once again deemed safe (i.e., post-pandemic) by:

empowering tourism businesses to create new or enhance existing tourism experiences and products to attract more local and domestic visitors; and
helping the sector reposition itself to welcome international visitors by providing the best Canadian tourism experiences to the world. 38

Initiatives under this fund will help tourism businesses and organizations adapt their operations to meet public health requirements; improve their products and services; and position themselves for post-pandemic economic recovery. 39

Part of this funding includes Destination Canada’s $2-million investment along with $950,000 of in-kind support to the Indigenous Tourism Association of Canada to “support the recovery of Indigenous tourism businesses.” 40

Several federal government institutions also play key roles in shaping the outcome of Canada’s tourism economy. For example, the federal government is responsible for the following:

establishing ticket taxes and travel tariffs;
providing customs and border services; and
addressing matters related to national security.

The National Capital Commission and Parks Canada also help ensure that iconic Canadian places are protected and preserved for current and future visitors to enjoy. As well, provincial and territorial governments help develop and promote tourism in Canada.

The Canadian tourism industry was greatly affected by the global COVID-19 pandemic. However, if international borders continue to reopen and if the industry continues its steady overall growth of the recent years prior to the pandemic, tourism will again contribute to Canada’s economic well-being. And although the U.S. continues to be Canada’s biggest tourism trading partner, stakeholders might continue their efforts of focusing on more growth-oriented, lucrative emerging markets to better diversify tourism interests and help Canada fulfil its tourism potential.

World Travel & Tourism Council, Economic Impact Reports . [ Return to text ]
Ibid. [ Return to text ]
Ibid., p. 7. [ Return to text ]
Destination Canada, China . [ Return to text ]
Statistics Canada, “ Canadians made fewer trips within Canada and around the world in 2019 ,” The Daily , 9 December 2020. [ Return to text ]
Ibid., p. 14. [ Return to text ]
Ibid., p. 15. [ Return to text ]
Destination Canada, United States . [ Return to text ]
Destination Canada, Who we are . See also the Canadian Tourism Commission Act , S.C. 2000, c. 28. [ Return to text ]
Innovation, Science and Economic Development Canada, “ Creating Middle Class Jobs: A Federal Tourism Growth Strategy ,” Creating Middle Class Jobs: A Federal Tourism Growth Strategy . [ Return to text ]
Ibid.; and Accessible Canada Act , S.C. 2019, C. 10. [ Return to text ]
Government of Canada, “ Chapter 3.1: Connecting Canadians With Available Jobs –Temporary Resident Program ,” Jobs, Growth and Long-Term Prosperity: Economic Action Plan 2013 , Budget 2013. [ Return to text ]
Government of Canada, “ Chapter 2: Building a Better Canada – Launching a Federal Strategy on Jobs and Tourism ,” Investing in the Middle Class , Budget 2019. The Government of Canada’s regional development agencies are the Atlantic Canada Opportunities Agency (ACOA); Canada Economic Development for Quebec Regions (CED); Canadian Northern Economic Development Agency (CanNor); Federal Economic Development Agency for Southern Ontario (FedDev Ontario); Federal Economic Development Agency for Northern Ontario (FedNor); Prairies Economic Development Canada (PrairiesCan); and Pacific Economic Development Canada (PacifiCan). [ Return to text ]
Government of Canada, “ Chapter 2: Building a Better Canada – Launching a Federal Strategy on Jobs and Tourism ,” Investing in the Middle Class , Budget 2019. “LGBTQ2” refers to lesbian, gay, trans, queer and Two-Spirit. [ Return to text ]
Government of Canada, Tourism Relief Fund . [ Return to text ]
Destination Canada, Destination Canada providing $2 million in funding to Indigenous Tourism Association of Canada ( ITAC ) . [ Return to text ]

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Tourism sector

Global tourism can have some clear positive effects on the economic and social well-being of both tourists and local populations. However, the tourism sector can also bring far-reaching negative human rights impacts on workers, local communities and tourists, in addition to impacts on the environment – both local and global, through the air travel of tourists, for example. A number of the risks workers face in the tourism sector are shared with workers generally . However, there are specific risks for workers in the tourism sector; marginalised groups such as women, children, migrant workers and indigenous communities all over the world are the ones most heavily affected by the adverse impacts of tourism, especially in economically underdeveloped countries.

Photo by Janis Oppliger on Unsplash

The human rights risks of tourism include:

abuses of labour rights and poor working conditions, including a lack of written contracts, long working hours and excessive overtime, lack of protective gear, which can take the form of modern slavery and exploitation;
subjecting marginalised groups, such as women, children, migrant workers, persons with disabilities or indigenous peoples, to discriminatory practices by companies or tourists;
negative impacts on land rights;
negative impacts on culture of communities and heritage sites;
negative impacts on the environment and climate change.

These risks are amplified by local or worldwide economic crises or other events that affect tourism, such as terrorism, natural disasters and the COVID-19 pandemic , which has put 100-120 million jobs in the industry at risk .

Accordingly, several states have addressed the human rights risks of tourism in their National Action Plans (NAPs). For instance, Poland’s NAP provides for regulatory amendments to address sexual exploitation of minors in the hospitality industry. Spain’s NAP aims to promote self-regulation codes in line with various frameworks that provide for responsible tourism. Germany’s NAP plans to increase financial support for the initiative the Round Table on Human Rights in Tourism .

Fuelled by high incidence of informality in the sector, there is a high risk of modern slavery and child labour. A significant number of forced labour cases involve migrant workers in the hospitality industry across the globe – in Qatar or the US , or in the construction of the infrastructure for major entertainment events as the Sochi Winter Olympics in 2014 and the much-anticipated 2022 FIFA World Cup . The ILO has estimated that there are between 13-19 million children working in an occupation tied to tourism, which represents some 10-15% of the tourism workforce. Child labour is often used in hospitality, or entertainment, such as hotel personnel, or guides for tourists , as well as in the vast supply chain for tourism industry, such as in the production of souvenirs, for example.

Sexual exploitation of women and children is also a prevalent issue in the tourism sector. A 2017 ILO Report estimated that 19% (4.8 million people) of all modern slavery cases are sexual exploitation cases, 21% (1 million people) of the victims are underaged, and 99% of the victims of forced sexual exploitation were women and girls. ECPAT International’s 2016 Global Study on Sexual Exploitation of Children in Travel and Tourism found a direct link between the growth of and advancements in travel and tourism with specific risks for children, and identified significant legislative and policy gaps globally that cause the protection of children to lag behind the industry. Extraterritorial commercial child sexual exploitation and abuse was also a topic of special interest for the U.S. Department of State’s Trafficking in Persons Report 2020 , which highlighted a weak rule of law and poverty in destination countries, as well as the increased accessibility of travel that perpetrators take advantage of. The 2020 Report also identified the trends that hinder the protection of children from sexual exploitation in tourism, such as the so-called “voluntourism,” “orphanage tourism”, online platforms and electronic payments. UNICEF’s 2017 Report on children and hotel industry in Mexico also underlined child labour and sexual exploitation, along with issues with decent work for parents and caregivers and the pressure of tourism on basic services in local communities as pressing for children’s human rights in Mexico.

Tourism also has various negative environmental impacts, especially in economically underdeveloped countries, which rely on the revenue from tourism and subsequent foreign investments. International travel and other dimensions of tourism contribute towards climate change , which itself then impacts on the local communities and their human rights. According to a 2019 Report transport-related emissions from tourism are expected to account for 5.3% of all man-made CO2 emissions by 2030. However, the loss of biodiversity and depletion of natural resources such as water, are also significant negative impacts of tourism on the environment. Considering environmental impacts of tourism sector, conducting or strengthening environmental impact assessments (EIA) have been proposed for tourism-related projects. For example, Equitable Tourism Options (EQUATIONS) recently proposed including EIAs for tourism-related projects in the Indian EIA framework. To improve existing EIA frameworks in respective states, 2011 EIA Technical Review Guidelines for Tourism‐Related Projects were developed by experts from CAFTA-DR countries.

The protection of human rights in the tourism sector is guaranteed by various generally applicable international frameworks, such as the core UN international human rights instruments and the ILO Conventions . Considering its economic, social and environmental impacts, the sustainable development of tourism sector has a crucial role in the realization of the 2030 Agenda for Sustainable Development . SDGs 8 (Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all), 12 (Ensure sustainable consumption and production patterns) and 14 (Conserve and sustainably use the oceans, seas and marine resources for sustainable development) include tourism-specific targets.

The UNWTO Global Code of Ethics for Tourism is a voluntary set of 10 principles addressed to various actors within the tourism industry and aims to ensure that benefits are maximized without adverse environmental, cultural or social impacts. Stakeholders can refer to the World Committee on Tourism Ethics with the questions regarding the scope and interpretation of the Code. In 2017, the ILO produced Guidelines on Decent Work and Socially Responsible Tourism , which set out common principles and policy framework to guide actors in tourism towards the internationally accepted labour standards and promote decent work in the industry.

Notable initiatives and studies for implementing human rights in the travel and tourism sector have been implemented by various actors. Some examples include:

International Tourism Partnership has launched the Principles on Forced Labour that is designed to guide hotel industry to preventing forced labour in their business activities and supply chains.
Global Sustainable Tourism Council has developed Performance Indicators for hotels and tour operators that aspire to guide the respective industries to contribute to sustainable tourism.
A Practitioner’s Guide for Human Rights Impact Assessment (HRIA) in Tourism, developed by Twentyfifty, Hamburg Foundation for Business Ethics and Institute for sustainable tourism, is designed to aid practitioners conduct HRIAs in different sectors within the industry, such as a tourism destination with beach hotels and excursions.
The Roundtable Human Rights in Tourism , a non-profit association promoting human rights, has produced several operational guidelines and tools for the actors and contexts in the industry of tourism. Recently it also published a Human Rights Impact Assessment Report for the tourism industry in Thailand and Myanmar, underlining main contextual human rights impacts, including labour rights, economic inclusion, environmental impacts, children’s rights, etc.

Other important studies include: Impact Assessment of Tourism on Communities and Children in Zanzibar , which has been conducted by UNICEF Tanzania in collaboration with Zanzibar’s state institutions;
Human Rights Impact Assessments (HRIAs) in India and Kenya conducted by the Swiss travel agency Kuoni.

UNICEF Tanzania, Assessment of the Impact of Tourism on Communities and Children in Zanzibar , 2019;

The UNICEF, Children and the hotel industry in Mexico , 2017;

The U.S. Department of State, Trafficking in Persons Report 2020;

The UNWTO’s Global Report on Women in Tourism , 2019 edition;

The UNWTO Manual on Accessible Tourism for All , 2015;

The UNWTO, Global Code of Ethics for Tourism;

The UNWTO, COP25 Report , 2019;

The ILO, Guidelines on Decent Work and Socially Responsible Tourism , 2017;

San Marino Declaration of Accessible Tourism , 2014;

The European Network for Accessible Tourism (ENAT), Code of Good Conduct , 2015;

ECPAT International, Global Study on Sexual Exploitation of Children in Travel and Tourism , May 2016;

The Business and Human Rights Resource Centre, On Shaky Ground: Migrant Workers’ Rights in Qatar & UAE Construction , 2019;

Amnesty International, Destination: Occupation;

Tourism Watch and Working Group on Tourism and Development, Tourism in Sri Lanka: Human Rights Due Diligence of Tour Operators in Post-Conflict Areas Report , 2015;

Roundtable Human Rights in Tourism, Human Rights Impact Assessment in Thailand and Myanmar , 2019;

Institute for sustainable tourism, Hamburg Foundation for Business Ethics and twentyfifty, a Practitioner’s Guide for Human Rights Impact Assessment (HRIA) in Tourism , 2017;

International Tourism Partnership, the Principles on Forced Labour;

The Myanmar Centre for Responsible Business (MCRB), the Danish Institute of Human Rights and the Institute of Human Rights and Business, the Myanmar Tourism Sector Wide Impact Assessment , 2015;

Kuoni, Human Rights Impact Assessment (HRIA) in India , 2014;

Kuoni, Human Rights Impact Assessment (HRIA) in Kenya , 2012;

Tarik Dogru et al., Employee earnings growth in the leisure and hospitality industry , Tourism Management, Volume 74, 2019,

Andreas Neef, Tourism, Land Grabs and Displacement , 2019

What National Action Plans say on Tourism sector

The Belgian NAP does not explicitly address the Tourism sector.

Pillar 2: The Corporate Responsibility to Respect Human Rights

Strand 2: promotion of corporate due diligence in the field of human rights.

Action Point 2.2 [page 55]

The Ministry of Economy, Development and Tourism will:

Create working groups in conjunction with the Under-Secretariat of Fisheries and Aquaculture and the Under-Secretariat of Tourism, which will have the duty to analyse and create mechanisms allowing to monitor these sectors regarding their respect for human rights. It will encourage and work with SEP for the adoption of an audit system in the field of human rights.

Strategy “Commitment for the future of Colombia” [“Compromiso por el futuro de Colombia”]

Job creation: the government seeks increasing employment through a strategy that combines support to Small and medium enterprises (which generate around 90% of employment in the country), acceleration of infrastructure projects, incentives to orange economy [economía naranja] projects _ , development in connectivity and digital transformation and support to sector specially impacted by the pandemic such as tourism and the hotel industry.

1. Key areas for action

Challenges in corporate practice.

2.1 Ensuring the protection of human rights in supply and value chains

The current situation [Page 20-21]

With support from the Federal Government funded German Global Compact Network, the “Round Table on Human Rights in Tourism” was launched in 2012. Its aim is to specify the precise requirements of the UN Guiding Principles on Business and Human Rights for the tourism industry and to develop, in a multi-stakeholder format, solutions to human rights challenges that are specific to tourism.

→ The “Round Table on Human Rights in Tourism”, a model initiative for the development of a specific sectoral understanding of due diligence with regard to human rights, will receive increased financial support from the Federal Government.

IV. Italian ongoing activities and future commitments

Sustainable development.

“Italy, with regard to the Initiative undertaken in December 2019 by the new EU Commission for a Green Deal that aims by 2050 to a climate-neutral Europe, has established a fund for public investment (€ 4.24 billion for years from 2020 to 2023). It is intended to support innovative investment projects and programmes with a high level of environmental sustainability, which will be used to support investments in relation to circular economy, as well as in de-carbonisation, urban regeneration, sustainable tourism, adaptation and mitigation of risks from climate change.” (p. 34)

ANNEX 1 – Accountability Grid and Assessment Tools for the Implementation of the NAP

“2. Update the implementation assessment information of Legislative Decree No. 231/2001 in order to evaluate its extension in terms of objectives and application of the administrative liability of legal persons, and to pursue the following objectives in this area:

– the fight against the crisis and the rate of unemployment suffered by economic sectors most affected by measures to counter the epidemic emergency (catering and the gastronomic sector; tourism/hotel sector; small businesses/individuals in the craft and retail sectors of Made in Italy )” (p. 61)

B. PILLAR I: The State duty to protect human rights

B.1. foundational principles.

Guiding Principle 2 . States should set out clearly the expectation that all business enterprises domiciled in their territory and/or jurisdiction respect human rights throughout their operations.

The self-regulation codes will also be promoted, taking as an example relevant sector experiences, such as the Global Code of Ethics for Tourism of the World Tourism Organization (WTO) or the Code of Conduct for the protection of children and adolescents against sexual exploitation in the Tourism and Travel Industry, as well as the relevant labor conventions of the ILO.

2 National Action Plan on Business and Human Rights 2020-23

2.1 pillar 1: state duty to protect.

Guiding Principles 1 to 3

2.1.2 Operational principles: legislative and information policy measures

Measure 8 Human rights in tourism The tourism sector is a major driver of the Swiss economy. However, tourism can have adverse impacts on human rights. For example, local communities may be forced to vacate an area to make way for new hotels, workers may suffer human rights abuses, and children may be exploited and fall victim to sex tourism (cf. Measure 27 below). The federal government supports the Roundtable on Human Rights in Tourism assessment of human rights impacts along the tourism value chain. This project, which will initially focus on Thailand, adopts a multi-stakeholder approach and seeks to develop practical guidelines for the tourism industry as a whole. The World Tourism Organization (UNWTO) plays a key part in implementing the UN Guiding Principles in the tourism sector. For example, it has developed and adopted a Global Code of Ethics for Tourism, which acknowledges respect for human rights as a fundamental principle.22 As a member of the UNWTO, the federal government is committed to actively promoting implementation of the UN Guiding Principles by the tourism industry.

2.2 Pillar 2: the corporate responsibility to respect human rights

2.2.2 Operational principles: human rights due diligence

Guiding Principles 16 to 21

Measure 27 Promote efforts to end all forms of child exploitation in supply chains

The federal government also takes action to prevent the exploitation of children in travel and tourism. The ‘Don’t look away’ initiative seeks to raise public awareness of the problem. Tourists and travellers who suspect cases of child sexual exploitation can go to the website, fill out the online report form and send it directly to the Federal Office of Police (fedpol). Increasing numbers of European countries are now joining the campaign. As part of its membership of ECPAT International, which works to end all forms of child sexual exploitation, the federal government launched the ‘Don’t look away’ campaign (ne-detournez-pas-le-regard.ch), regularly attends meetings organised by the network and contributes to discussions.

Can ‘voluntourism’ outgrow the white saviour stereotype and make a positive change post-pandemic ?

Senior Lecturer, Massey University

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Sharon McLennan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Massey University provides funding as a member of The Conversation NZ.

Massey University provides funding as a member of The Conversation AU.

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As the tourism industry emerges from pandemic shutdowns and border closures, so too is “voluntourism”, the sometimes controversial combination of overseas volunteer work and more traditional tourist experiences.

Although hard to measure, pre-pandemic estimates suggest voluntourism was worth US$2 billion annually , with up to ten million volunteers globally. While COVID shut the practice down for the duration, it remains a multi-billion-dollar industry , now poised to return and rebuild .

But volunteer tourism has met with considerable criticism. Voluntourists have been accused of putting vulnerable people at risk ( including children ), commodifying volunteer work , perpetuating neo-colonialism and reinforcing a “white saviour” complex.

Voluntourism is also largely unregulated , raising important ethical questions about who it really aims to serve – travellers or hosts. These issues are now being felt in the Pacific, where voluntourism is a relatively new but growing industry. As Simone Kaho wrote of her experience in Tonga:

In many cases, voluntourism asks the local community to stand back, and allow themselves to be helped. It turns helping into a business model.

My research in Fiji has also highlighted the problems associated with the commercialisation and commodification of volunteering. These are real and important issues that need close examination as tourism in general picks up.

Behind the ‘bula smile’

The Fiji case study – conducted with an international, for-profit, specialist voluntourism agency – tells a complex story about the benefits and downsides of voluntourism.

Volunteers are hosted by local families and included in household life, attending church or religious functions, learning to cook Fijian food, and spending time with children and other family members. Through this, they gain an understanding of life behind the famous “bula” smile. As one staff member said:

The host may get angry with you if you leave the light on, you may feel like you are back living with mum and dad because they may give you a lunch box, things like that. But it’s important that they see the person who is paid to smile at the Hilton, what they are like at home with their kids, how they make ends meet, how they eat.

Read more: COVID-19 has devastated the popular but flawed volunteer tourism business – here's what needs to be done

Hosts often put considerable energy into sharing their way of life and teaching volunteers Fijian culture. Most hosts and staff took pride in helping travellers find their way around and teaching them Fijian ways. In turn, this helped Fijian staff build knowledge and pride in their own culture.

Also the good thing is that we keep up with our culture. Because if you are talking about it every day and you show them and try to talk about it, then the history remains […] Now when we go to the village we do the sevusevu [kava ceremony] and all those things, and we go with the elders. It was our mothers that did that, but now we are doing it, the next generation. When we have volunteers in a Fijian village we will go to any lengths to give them what they want, to try and serve them […] But of course then the volunteers change to become more Fijian!

A chance to improve voluntourism

The growth of voluntourism in Fiji follows half a century of mass tourism , in which contact between Fijians and tourists has been largely limited and manufactured. Hosts embrace the opportunity to interact with tourists more directly and to build connections across the globe.

However, the commercial nature of the encounter has the potential to significantly undermine these connections. The large fees paid by voluntourists mean they – like any tourist – are consumers.

Volunteers have certain expectations, ranging from the mundane (internet access, good food and logistical support) to the more profound (a sense of accomplishment, a feeling they’ve made a difference). They will complain if these expectations aren’t met.

The pandemic also raised questions about the sustainability of voluntourism. The organisation I studied cut its global workforce significantly. In Fiji it had provided jobs for about a dozen Fijian staff, as well as home-stay income for many households.

Read more: Volunteer tourism: what's wrong with it and how it can be changed

While there is evidence that reliance on customary knowledge, systems and practices helped tourism workers to survive and even thrive during the pandemic, the future for many is uncertain.

COVID-19 has been something of a wake-up call that we need to move beyond voluntourism as a pseudo-development practice or as a commodified, profit-making experience. This is an opportunity for the industry to take on board the criticisms, examine past practice and reassess the role and impact of volunteering.

Rather than rush back to business as usual, this is the perfect moment to look at reconfiguring the industry in line with the principles of sustainability and regenerative tourism . In the process, perhaps voluntourism’s strengths – building cross-cultural relationships, learning and solidarity – can contribute more to meaningful social and environmental change.

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The multibillion-dollar sleep tourism industry is booming as more Americans travel to rest in AI-powered beds and suspended cocoons

More hotels are offering a slew of amenities to help guests feel rested and rejuvenated as 94% of Americans surveyed, say they want to enjoy slow travel.

More travelers are forgoing itineraries jam-packed with activities from dawn to dusk. Instead, they’re consulting pillow menus and retiring on the early side.

Welcome to the age of sleep tourism, where a growing number of hotels are offering amenities and services, including access to a slate of in-house sleep experts, to help guests get a healthy dose of rest. The sleep tourism market is estimated to grow by nearly 8% and by over $400 billion between 2023 and 2028, according to an analysis by HTF Market Intelligence .

“Guests are increasingly valuing sleeping when they’re traveling and getting a good night’s rest on the road,” says Rebecca Robbins , a sleep scientist at Harvard’s Division of Sleep Medicine and co-author of Sleep for Success! .

The growing $814 billion wellness tourism industry has capitalized on an overwhelming interest in “slow travel”—voyaging for relaxation and reconnecting with wellness habits. In one recent survey , a vast majority of respondents—over 94%—said they want to experience slow travel. This comes as more hotels across the globe are becoming ambassadors in sleep tourism, offering sleep trackers, retreats and guidance from sleep doctors.

“Gone are the days of traveling and coming home exhausted,” Robbins says. “The idea that travel could restore you—to cognitively learn things and experience new things and also physically and mentally get the rest you need to power your trip and to allow you to return home rested—is a really exciting proposition.”

In a survey of over 600 travelers, Robbins, who also teaches sleep science classes at Sonesta hotels, found only one in three were satisfied with their sleep during their last travel experience. “One of the most important outcomes from that study found that sleeping while traveling was a significant predictor of the likelihood a guest would return.”

Robbins says while hotels often focus on promoting their nightlife options and restaurants, they can also benefit from travelers’ desire and need to improve their sleep. “After all, hotels are the core provider of a good night’s rest,” she says.

Sleep tourism hot spots

Hotels have long provided amenities like masks, blackout shades, and comfortable pillows, but many brands are expanding their suite of sleep-boosting offerings. Several of Hilton’s locations offer “power down” amenities, including temperature-adjusting mattresses and dim light settings, according to Amanda Al-Masri, the vice president of wellness at Hilton .

“We know a good night’s rest can make or break a trip as well as provide major positive benefits for creativity, mood, and brain health,” says Al-Masri, who notes that Hilton’s latest wellness trends report found the number one reason for travel is to rest and recharge.

Other Hilton properties are similarly expanding their sleep-boosting services. The Rome Cavalieri, A Waldorf Astoria Hotel , offers guests pillow menus, while Conrad Bali has an additional paid experience called SWAY, where guests enjoy a 60-minute sleep therapy session while suspended in cocoon hammocks.

“Travelers engaging in sleep tourism are taking that extra step and seeking out unique experiences, amenities, and environments that help them achieve their sleep and relaxation goals,” says Al-Masri.

Park Hyatt New York offers a Bryte Restorative Sleep Suite , a 900-square-foot room with an AI-powered smart bed to adjust mattress pressure points. The room also has essential oil diffusers and sleep-related books. London-based hotel Zedwell offers soundproof rooms free of distractions like TVs and monitors. Sonesta’s Rest & Renew program at the four-star Benjamin Royal in New York offers sleep kits with masks, a sleep lullaby music library, white noise machines, ten different pillow options , and a power napping kit.

For those who want to dedicate their entire getaway to wellness, Six Senses , with locations across the globe, including in Greece, India, and Fiji, gives guests a curated sleep program. The stay includes sleep meditations and a two-night sleep tracker, providing insights into sleep duration and quality, along with guidance from in-house sleep doctors. A five-night stay starts at over $1,000, and guests can typically go from three to 10 nights.

The prioritization of sleep education

Robbins says the collective sleep epidemic plaguing many is cause for concern as optimal sleep remains a vital pillar of healthy physical and mental well-being. One in three adults do not get the recommended hours of sleep each night, perpetuated by 24/7 technology and the rise in mental health conditions like anxiety and depression that can keep people awake.

The discrepancy paints a larger picture highlighting the undereducation in sleep science, Robbins says. “There’s really no formal education,” she says. “There’s a tremendous opportunity to improve our collective sleep health.”

For many, there’s no better time to prioritize sleep than on vacation . For those who can access them, amenities that can help improve sleep quality and duration include thick curtains to block out light, a distraction-free room, and resources on wind-down routines such as mindfulness guides.

Travelers who return feeling rejuvenated just may use what they learned in their daily life once the hustle commences.

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Coastal tourism: Oregon’s multi-billion dollar treasure

Oregon’s coastal tourism economy building for impact

Travelers remember the first thing about Oregon’s natural beauty that made them gasp — whether it was a glimpse of Mt. Hood, riding through the Columbia River Gorge, or seeing the powerful Pacific crash against its rugged shores.

Tourism in Oregon is a $12.3 billion industry employing 115,400, according to state agency Travel Oregon, making it an important “export-oriented” industry. Outside the urban areas, tourism generates roughly 10% of jobs. As today’s adventure seekers are climbing cliffs, kayaking, biking, camping and hiking, OSU and the College of Business are poised to help this industry grow. And it is impactful.

Tourism in coastal communities also contributes to Oregon’s “blue economy,” a collection of industries that have touchpoints with ocean and marine resources and function best under a sustainable business model — one that allows not only for economic growth but also protects ocean and river resources for future generations. Alongside sustainable fishing or ocean wave-based energy, coastal tourism contributes to Oregon’s position among the nation’s leaders for the blue economy.

OSU is currently helping to define the state’s blue economy in support of the Marine Studies Initiative as well as the university’s Vision 2030 strategic plan. As a yardstick the European Union recently valued their blue economy at more than $550 billion annually.

According to Miles Phillips, associate professor of the College of Business with OSU Extension and Oregon Sea Grant, sustainable tourism and outdoor recreation in coastal regions have room for growth, and consistent with our land grant mission, we have the need to better prepare communities for tourism business.

“We’re planning ahead for big opportunities within guided experiences, or adventure tourism,” said Phillips. “These visitors tend to have a higher spend as tourists, and this brings greater opportunities for business development.”

For example, Phillips runs a program called GORP — the Guide and Outfitter Recognized Professional program which certifies participants to lead tourist adventures. He’s also preparing for a national conference on sustainable tourism.

oregon state university OSU college of business

The October 2019 Conference on Sustainable Tourism & Outdoor Recreation in Astoria, Oregon, calls on private industry, local businesses, government agencies and professionals from Extension and Sea Grant to explore funding models, research and case studies focused on sustainable tourism and outdoor recreation. Phillips expects the conference to elevate the resources and opportunities available in Oregon. The conference is open to public attendance.

Bike Newport owner Daniella Crowder speaks well of the support networks available to business owners. “Living in Newport and being on the Destination Newport committee, the city’s all-volunteer marketing committee, we are always working together to bring visitors here,” Crowder said.

Crowder runs the bike shop with her husband, Elliott, who sits on the Oregon Bicycle Pedestrian Advisory Committee and Oregon’s Scenic Bikeways committee. They’re both very actively promoting coastal tourism and building their business community network.

“We’re very plugged in, and we’re involved in bike events all over the state,” she said. “We’re big advocates for more trails. We are working with the city, Travel Oregon and the Oregon Coast Visitor Association to create more hiking and biking trails in Newport. This brings more sustainable tourism and adventure tourism to the area, and it’s great for our community.”

Bike Newport rents, sells and repairs bicycles as well as supports bicycle touring, which brings bikers to other tourism businesses. For example, Bike Newport will lead a trip to a microbrewery in Yachats, a plus-20 mile trip south, and arrange transportation back to Newport for weary bikers.

Tourism businesses all face similar challenges — small businesses and family businesses needing skilled employees, or entrepreneurial self-employed service providers needing good marketing, business upskills and community support. The college’s hospitality management degree option is offered online and at OSU Cascades — addressing Oregon’s growing need for business skills related to tourism.

These concerns are live on the ground in Lincoln County with Dave Price, MBA ’03, director of small business development and community education at the Oregon Coast Community College in Lincoln City.

“By most counts, more than 90% of Lincoln County businesses are microenterprises — classified as five total employees or less,” Price said. “And it’s very hard to find a business that’s not impacted by tourism in Lincoln County.”

Price cites the contractors maintaining and improving vacation rental homes, hotels and restaurants. He says their project work, pickup trucks and work belts might not apparently influence tourism, but certainly during the recession, many business owners put maintenance and improvement projects on hold, and the community was impacted.

Price’s initiatives provide business training and workshops to small business owners and potential entrepreneurs, including a nine-month small business management program. He sees great potential for sustainable tourism.

“There’s been plenty of talk about how Lincoln County can set itself apart by becoming ‘Oregon’s Greenest Beach,’” Price said.

“We’ve looked at bans on Styrofoam containers or a plan to use transient room tax funds to subsidize private businesses’ investments in compostable tableware. We, and others, have an eye on tourists who realize one stretch of sand is very much like the next, but finding a vacation community that syncs with one’s closely-held values could be a powerful attractor.”

Misty Anderson, innkeeper of the Heceta Lighthouse Bed and Breakfast located in Yachats, Oregon, knows what it’s like to command a special niche of tourism. A protected heritage site operated by the U.S. Forest Service, similar to the Timberline Lodge, a stay at the inn is a special experience. Anderson admits she’s lucky, “I’m not paying for internet marketing because we just have the reputation.”

The 125-year-old house has “all of those challenges and that charm,” and Anderson makes certain to provide the nicest linens, the softest robes, the fluffiest towels, and a seven-course breakfast.

“All of our food and wine is Pacific Northwest, as local as we can get it,” Anderson said. “From our inn’s culinary garden to the Florence Farmers Market to the garden at my house, everything is as local as we possibly source it. We really want to feature for those people who come from all over the world what Oregon and the Pacific Northwest has to offer.”

Photos courtesy of Oregon Sea Grant and Heceta Head Lighthouse

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English Listening Lesson on Tourism

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THE LESSON ON TOURISM

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THE ACTIVITIES

Listening gap fill.

Tourism has _____________________ the past few decades. It is actually quite a new thing. It _____________________ fifty years ago. The only people who travelled then were rich, and they _____________________. I guess tourism started in the late 60s and early 70s when airplane travel became cheap. The _____________________ suddenly became very _____________________. Everyone wanted their two weeks of sun in the summer. Tourism today is a multi-billion-dollar industry. There _____________________ the Earth untouched by tourism. The number of tourists _____________________. Millions of people from Russia, India and China are now taking vacations. Tourism really is making the world a global village. I’m not sure _____________________ or a bad thing.

CORRECT THE SPELLING

Tourism has changed a lot over the past few edacdes . It is ctaualyl quite a new thing. It probably didn’t exist fifty years ago. The only people who travelled then were rich, and they were called travelers. I guess tourism started in the late 60s and early 70s when raaneipl travel became cheap. The idea of foreign travel snuddley became very popular with millions. Everyone wanted their two weeks of sun in the summer. Tourism today is a multi- loilinb -dollar ndtuysir . There is hardly a ncrroe of the Earth dthouncue by tourism. The number of tourists is also rtcginkoe . Millions of people from Russia, India and China are now taking antsaoivc . Tourism really is making the world a global village. I’m not sure if this is a good or a bad thing.

UNJUMBLE THE WORDS

Tourism past a few lot decades over has the changed . It is actually quite a new thing. It probably didn’t exist fifty years ago. The rich were then travelled who people only , and they were called travelers. I guess tourism started in the late 60s became early when travel and 70s airplane cheap. idea foreign suddenly The of travel became very popular with millions. weeks their Everyone two wanted of sun in the summer. Tourism today is a multi-billion-dollar industry. of corner a hardly is There Earth the untouched by tourism. The number of tourists is also rocketing. Millions of people from Russia, India and China are now taking Tourism . vacations making is really the world a global village. if a a sure is or not this good I’m bad thing.

DISCUSSION (Write your own questions)

Student tourism survey.

Write five GOOD questions about tourism in the table. Do this in pairs. Each student must write the questions on his / her own paper.

When you have finished, interview other students. Write down their answers.

Now return to your original partner and share and talk about what you found out. Change partners often.
Make mini-presentations to other groups on your findings.

Write about tourism for 10 minutes. Show your partner your paper. Correct each other’s work.

______________________________________________________________________________

1. VOCABULARY EXTENSION: Choose several of the words from the text. Use a dictionary or Google’s search field (or another search engine) to build up more associations / collocations of each word.

2. INTERNET INFO: Search the Internet and find more information about tourism. Talk about what you discover with your partner(s) in the next lesson.

3. MAGAZINE ARTICLE: Write a magazine article about tourism. Read what you wrote to your classmates in the next lesson. Give each other feedback on your articles.

4. TOURISM POSTER Make a poster about tourism. Show it to your classmates in the next lesson. Give each other feedback on your posters.

5. MY TOURISM LESSON: Make your own English lesson on tourism. Make sure there is a good mix of things to do. Find some good online activities. Teach the class / another group when you have finished.

6. ONLINE SHARING: Use your blog, wiki, Facebook page, MySpace page, Twitter stream, Del-icio-us / StumbleUpon account, or any other social media tool to get opinions on tourism. Share your findings with the class.

Check your answers in the article at the top of this page.

Birding (Yes, Birding) Is a Multi-Billion Dollar Ecotourism Industry

Photo illustration by Sarah Rogers/The Daily Beast

Millions of birders around the world set out to catch a rare glimpse of plumage, a bold stroke of color, or to hear an unusual song—and they're changing the face of tourism.

Brandon Withrow

I will never forget the first time I got lost in the eyes of a ruby-throated hummingbird. It was late in spring seven years ago and I was writing out on our patio. Flashes of her green back cut through our garden, darting from petunia to petunia. My eyes shifted up from the laptop, finding her only inches away. We briefly stared quietly at each other, frozen in time at 53 beats per second.

Over the years, while I’ve added feeders—seed, suet, and nectar—and enthusiastically packed my camera and binoculars for the nearest nature preserve, I’ve found that compared to serious birders, I’m still just a novice birder, or maybe just an avid bird-lover.

Determined birders are ornithological junkies, compelled to travel long distances by their love of spotting a rare species. In fact, they are part of a growing multi-billion dollar ecotourism industry. And birding, as it turns out, is not only the perfect excuse for travel, but also part of a practical global conservation effort to help both birds and humans thrive.

It is estimated that over $800 billion is spent a year in outdoor recreation in the United States, with birdwatching having an economic benefit of $41 billion dollars. Roughly $17.3 billion is spent annually in wildlife-watching trip-related expenses in the U.S., with more than 20 million Americans taking birding-specific trips.

Courtesy Brandon Withrow

One of those birding hotspots is the Rio Grande Valley in Texas, which I visited last October as part of a press trip to ride an extensive new cycling trail system.

This is a region that closely combines both the dry prairie landscape and the colorful tropical palette of the Gulf, bringing in a spectacle of birds that not only call this home, but make this a regular stop during migration. Here I first experienced the end-of-day cacophonous descent of red-crowned parrots into the trees.

Every November, the Birding Festival centered in Harlingen, Texas, brings in 2 million over a five-day event, with each birder hoping to tick off a large number of unique and exotic species on their avian bucket-list.

It was on this cycling trip that I met Dorian Anderson , one of the industry’s most passionate birders, with an incredible photographic eye . As we biked the region’s rail-trails, I could hear him identifying the call of birds.

Anderson is not your typical birder, however. With a doctorate in developmental genetics and post-doctoral work under his belt, he found himself falling in love with birding. In 2014, he spent a year on his bike traveling the country finding birds and blogging about it —he is currently writing a book about the experience.

Coutersy Brandon Withrow

“I wanted out from my career,” Anderson tells me, “and the bike trip was something sufficiently grand, sufficiently different, and sufficiently individualistic that I could go and do it. I don’t really work well in structures. That’s not really my style.”

Anderson figured that if he connected seven key areas across the country at the right time of the year, he could get in a list of 600 species. So he embarked on his road trip with no real cycling experience, getting 40 flats—until he finally bought kevlar tires. He rode in deep snow below freezing temperatures, was attacked by dogs, hit by a vehicle, and nearly struck by lightning. But he did meet fellow birders along the way, who helped him with supplies, places to stay.

“From an ecotourism standpoint,” says Dorian Anderson, “the Lower Rio Grande Valley has a great product. Birders are looking for species you can’t see in other places and the Rio Grande Valley is so good because you can see all of these Mexican birds there.” Anderson annually leads group tours for the festival.

Birders who travel large distances tend to do it in more traditional ways—they either fly into places like the Rio Grande Valley or take a road trip. They also tend to be baby boomers, those who are in a place in life that allows for disposable income and prolonged travel.

Since it brings in money, ecotourism is frequently seen as an incentive for protecting habitats and species.

“This is particularly true with birding ecotourism,” says Matthew Jeffery, the director of programs and deputy director (international) at the National Audubon Society , “because birding ecotourists typically have a lighter footprint from not wanting to disturb the birds and are often pioneers for furthering conservation projects to protect the habitats of wild and rare bird species.”

To that end of protecting habitats, organizations like the National Audubon Society are working on building birding-based ecotourism in developing countries. It is intended to be a win-win for those living there, protecting the area’s natural treasures and providing income.

“This can be seen in the Northern Colombia Birding Trail project from Audubon and its partners—Patrimonio Natural, the Asociación Calidris, and support from USAID,” says Jeffery. (This last summer, Anderson also helped the National Audubon Society develop birding itineraries for Colombia.)

Colombia is a birder paradise, with over 1900 bird species—more than anywhere else on the planet, with several only found in certain regions of the country. The country is the only home for eight species of hummingbird, including the stunning shimmering-green and purple-bearded Buffy Helmetcrest .

“This project trained 43 local guides with environmentally focused practices,” says Jeffery, “20 of which worked in bird-based tourism, and resulted in 53 percent of those working in bird-based tourism seeing an increase in their income.”

Projects like this create partnerships with local governments and by focusing on communities near important habitats, they help to form what he says are “buffer communities,” where they are “able to strengthen their involvement in conservation often resulting in a reduction of habitat degradation and sometimes restoration.”

Due to Audubon’s pragmatic approach, which builds its local programs off of trade-offs and economic incentives with local governments and representatives, they have not been without criticism from other conservationist organizations who find it too compromising.

Yet they have taken an approach that intends to move the needle when they can.

Birding ecotourism in smaller economies like Colombia becomes a way not only to find rare birds—at least for a Northern American or European birder—but also to use global adventures in lush natural habitats to infuse the dollars into developing regions through lodges or tour guides, making natural conservation efforts worthwhile to communities.

You don’t have to travel far, however, to find stunning birds—your backyard will do fine.

Jeffery notes that many in the United States DIY their birding. (In my own backyard, for example, I can find upwards of 20 species of birds—including goldfinches, cardinals, woodpeckers, and nuthatches—all at one time in the spring.)

Within communities across the country, it is frequently possible to find birding festivals within a short driving distance. These festivals help to bring in outside dollars.

In Northwest Ohio, for example, where habitat restoration projects and wildlife refuges are getting attention, birding has grown in leaps and bounds, making festivals like The Biggest Week in American Birding possible.

“The Biggest Week in American Birding festival, which will mark its tenth year next May, has put our region on the map internationally as one of the premier birding destinations in North America,” says Scott Carpenter, the director of public relations for Metroparks Toledo .

The festival is a chance to find the mass migration of approximately 20 colorful warbler species in one fell swoop, including water birds like egrets and the elegant great blue heron. Venturing away from these marshlands to the local woodlands, and an array of woodpeckers from the downy and hairy to the iconic red-crested pileated are possible.

“Over 20 years ago,” says Carpenter, “when I was an outdoors columnist for newspapers, birders and tourism professionals talked about the spring songbird migration and how it was the best kept secret in our region.”

When he would travel to Leamington, Ontario, he’d find banners along the streets welcoming birders.

“I found it strange that the south shore of Lake Erie didn’t receive that kind of notice,” Carpenter tells me. “After all, we have the same birds, earlier, and fantastic access to public lands where people can enjoy them. So, a few years ago, when I saw ‘Welcome Birders’ on banners lining the streets in my hometown of Oregon, Ohio, it was a dream realized. Black Swamp and Biggest Week made that happen.”

Sponsored by the Black Swamp Bird Observatory at Magee Marsh, the festival drew in approximately 90,000 people from 52 countries (six continents) in the spring of 2018, with birding bringing $40 million into the region annually.

The area hopes to keep capitalizing on these efforts, making others aware of their natural resources through new bike and hiking trails in the park system, camping, and water kayaking trails along the Maumee River, and the development of the Treehouse Village set to have its first guests next year.

Whether it’s birding festivals in Northwest Ohio or the Rio Grande Valley, or even hawk migrations in Cape May, NJ, or millions of sandhill cranes along the Platte River in Nebraska, birding ecotourism is big business in the United States and an emerging industry powerhouse for developing countries.

Globally, millions of birders like me set out for a chance to see that rare plumage, that bold stroke of color, or to hear that unusual song—even if not every species will visit you face-to-face and acknowledge your existence, like my hummingbird did.

Got a tip? Send it to The Daily Beast here .

How religious pilgrimages support a multi-billion dollar industry

A Catholic pilgrim looks at Virgin Mary statues in a gift shop during the Feast of the Assumption on Aug. 15, 2011 in the Sanctuary of Our Lady in the French pilgrimage city of Lourdes.

LONDON -- International religious pilgrimage: the business of devotion and divinity, miracles and mysticism for millions of worshippers. It is both a life-affirming contemplation for the faithful and the lifeblood of the communities surrounding popular shrines.

Global “pilgrimage tourism” encompasses a multitude of businesses from tour operators and shrine administrators, to road-side souvenir stalls and pilgrims’ hostels.

Religious travel generates at least $8 billion a year for shrine-centered economies and provides employment for thousands, according to academics — and being able to measure the celestial and spiritual elements of pilgrimage in monetary terms is far from a modern phenomenon; it’s as ancient as the act of spiritual travel itself.

“Pilgrimage has always been commercial, as has religion,” Manchester University professor Ian Reader told CNBC. “The roots of tourism are in pilgrimage, as the first package tours in Europe were organized by Venetian merchants controlling the Mediterranean. They ran tours to the Christian Holy Land in medieval times.”

Space Tourism to Become a Multi-Billion Dollar Industry by 2030

If trends continue, space tourism could be a major industry in just a few years. ¦ NASA-Imagery / Pixabay

Getting out of Earth’s atmosphere and entering space is becoming easier and cheaper by the day.

Compared to the $20 million that Dennis Anthony Tito, the first space tourist , had to pay back in 2001, modern space tourism prices seem like chump change.

As futuristic as it may sound, future space tourists will also have more options than just spending their time gazing at Earth from the ISS.

Space hotels, theme parks, and long-haul passenger flights are some of the examples of the business niches in space tourism .

Several countries’ space companies are all vying for a piece from the space economy pie that’s getting bigger and bigger.

Space Tourism is Shaping to become a Booming Business

SpaceX is readying its Starship for its first flight by 2020. Elon Musk’s company wants to send people to Mars as early as 2024 , ahead of establishing a permanent Martian camp.

Earlier this year, Virgin Galactic ‘s VSS Unity , or SpaceShipTwo, reached the edge of space again, this time with a test passenger on board.

As its reusable rocket technology advances, Blue Origin is also planning on sending passengers into Earth’s orbit. Jeff Bezos has high hopes in his massive New Glenn rocket to take on Musk’s Falcon Heavy.

And, according to a report from UBS AG Group, they’ve all the reason to engage in a tech war over flying people into orbit.

In a report, UBS predicts the space industry as a whole would be worth $800 billion by 2030 and one trillion dollars in 2040.

UBS forecasts space tourism to become a $3 billion market, and flying passengers from point-to-point on Earth, or commercial suborbital flights, to represent $23 billion in business opportunities.

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The professional sports industry is a multi-billion dollar business. Every weekend, fans flock in their thousands to watch their favorite team play, whether it be a soccer match in the English Premier League or a National Basketball Association game. Millions more also tune into the games back home, making the professional sports market a highly lucrative one for broadcasters and advertisers alike. In an increasingly commercialized industry, brands seek to take advantage of the sporting world's biggest names in order to sell their products in stadiums, on television, and on social media. Following the easing of coronavirus (COVID-19) restrictions worldwide, there is a strong case to suggest that the professional sports industry has bounced back stronger than ever, with record revenues and attendances in a number of key areas.

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Market size, market segments, industry trends, industry leaders, regional overview, state of the industry, industry definition.

Revenue of the Big Five soccer leagues in Europe from 2006/07 to 2021/22, with a forecast to 2023/24 (in billion euros)

Further details: Visit original statistic Revenue of the Big Five soccer leagues in Europe from 2006/07 to 2021/22, with a forecast to 2023/24 (in billion euros)

Revenue from the global professional sports market reaches into the billions each year. Much of this revenue is generated through sponsorship, merchandising, and media rights, with the best leagues and competitions being broadcast across the world. With more money in the industry, teams can afford to spend huge amounts on the very best players. Some of the highest earning sports stars earn millions for their services and through sponsorship deals.

Broadcast revenue earned by clubs in the Premier League in 2021/22, by club (in million GBP)

Further details: Visit original statistic Broadcast revenue earned by clubs in the Premier League in 2021/22, by club (in million GBP)

With potentially millions of eyes on any given sporting event or match, broadcasters know the value of securing both domestic and overseas rights deals with some of the world's biggest sports leagues. Ticketing revenue is also a huge part of the industry, with the biggest sports teams selling out their stadiums to thousands of fans every week. For many, nothing quite compares to the excitement of going to a game.

Average number of sports-focused streaming services used by sports fans in the United States in 2022, by age

Further details: Visit original statistic Average number of sports-focused streaming services used by sports fans in the United States in 2022, by age

Although much of professional sport, including the laws and the whole spectacle, has remained unchanged for decades, recent technological advancements have changed the industry for both the players and the fans. In-stadium experiences such as live player stats and food delivery straight to your seat have changed the way fans watch live sport. Back home, fans can consume professional sport content in a range of ways, from listening to podcasts to watching highlights online or on their phones.

Average attendance of the Big Five soccer leagues in Europe from 2013/14 to 2022/23, by league

Further details: Visit original statistic Average attendance of the Big Five soccer leagues in Europe from 2013/14 to 2022/23, by league

The most popular sports leagues are watched by millions across the world. In recent years, the National Football League (NFL) has seen its reach grow massively, with several regular season games now taking place outside of the United States. In the world of soccer, the Premier League is often touted as the best league in the world. It is the German Bundesliga, however, which typically boasts the highest average per game attendance of the biggest European soccer leagues.

Average per game attendance of the four major sports leagues in North America in 2022/2023

Further details: Visit original statistic Average per game attendance of the four major sports leagues in North America in 2022/2023

The interest in professional sports leagues varies from region to region. While the Big Four leagues are king in North America, cricket is one of the main passions in other areas of the world, including in parts of Asia and in the UK. The latter is also a hotspot for rugby, which is equally enjoyed in areas of Europe, South America, and Australasia. Soccer nevertheless remains a powerhouse of global professional sport, with its global appeal culminating in the FIFA World Cup every four years.

The professional sports industry encompasses mainstream and niche sports from across the world. While some of the big players in the industry include football, basketball, baseball, and soccer, there is also a huge appeal for sports such as cricket and hockey. The industry can also be broken down into the aforementioned team sports, and individual sports such as tennis and golf. However, the professional sports industry is about much more than just what happens on the pitch. It also includes the fan experience and the incredible revenue potential within the market. Revenue steams from broadcasting rights, sponsorship deals, and ticket sales have transformed professional sports into a multi-billion dollar industry and into an appealing prospect for brands and advertisers alike. For decades, one of the key indicators of success for any given sports league have been the attendance figures, while TV viewership and online engagement have become more recent measures of success.

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We have liftoff: Space Tourism and the Space Economy

The past year has been revolutionary for the space economy, with space tourism finally becoming a reality. While traveling to the stars seemed like a far-fetched dream, companies like SpaceX , Blue Origin and Virgin Galactic have seemingly made it possible, each having flown their first tourist-focused missions in 2021.

Following the milestone number of successful commercial space launches in 2021, it seems like every week there are new announcements of plans for space travel. With more private citizens than ever before making the trip outside of the Earth’s atmosphere in 2022, it is clear that Space Tourism is now a reality. But what does the emergence of space tourism mean for the space economy?

What is space tourism?

Simply put, space tourism refers to the activity of traveling into space for recreational purposes. While to many it seems like an unattainable dream, the concept of space tourism isn’t new, with Dennis Tito, the first space tourist, having paid $20 million in 2001 to go to the International Space Station (ISS) aboard the Russian Soyuz spacecraft.

While approximately 600 people have traveled into space, only a small fraction of them have been space tourists, meaning they traveled into space for leisure or recreational purposes, and not for any scientific research. Between 2001-2009 eight space tourists reached orbit, each of them utilizing government rockets and/or government space stations for their journey. In fact, the 2021 SpaceX voyage was the first all-private mission to orbit with the crew even planning their own itinerary.

The rapid growth of interest in space tourism has resulted in many companies researching, designing and testing spacecraft to carry tourists to space on a regular basis. Companies such as SpaceX and Virgin Galactic are leading the space tourism industry in outlining plans to deliver various forms of commercial space travel in the near future. Individuals who one daydream of being space tourists will be able to choose from three different types of space travel; suborbital space tourism, orbital space tourism, or lunar space tourism.

Suborbital Space Tourism

Suborbital space flights will aim to reach an altitude that will qualify as reaching space but will not achieve a full orbit. The spacecraft will fly at low speeds with its trajectory intersecting the atmosphere of the surface and will fall back to the earth after the engines are shut off. Suborbital space tourists will reach altitudes of approximately 100 kilometers and will have a few minutes in space, they will also experience some moments of weightlessness as the spacecraft free falls back to earth.

The suborbital space tourism market is currently dominated by two competing companies: Virgin Galactic, which debuted on the public market in 2019 and Blue Origin, the private space company funded almost exclusively by Amazon founder Jeff Bezos. Tickets for Virgin Galactic suborbital space flights are being sold at a cost of $450,000 for the 90-minute spaceflight.

Orbital Space Flights

Orbital space flights will reach altitudes of over 400 kilometers and orbital space tourists tend to spend days or even more than a week in space. The spacecraft will be placed on a trajectory to remain in space for at least one full orbit and should achieve the orbital velocity to remain in the orbital path. Due to the increased length, speed and distance, orbital space flights are significantly more expensive than suborbital space flights, with SpaceX’s four passengers on their September 2021 orbital space flight allegedly paying $50 million per ticket.

While in the past orbital space tourism has been largely limited to a few flights to the International Space Station that used Russian Soyuz spacecraft, new companies entering the market are making orbital space tourism more possible. SpaceX, founded by Elon Musk, has been the market leader, having launched the first all-private orbital space flight in 2021.

Lunar Space Tourism

Lunar space tourism aims to complete full trips to the moon with a suitable lunar spacecraft. While no lunar space tourism flights have yet been launched, plans to launch Lunar tourism on the moon’s surface or around it between 2023 and 2043 have been announced.

SpaceX announced plans for the dearMoon project in 2021, the first ever lunar space tourism mission. The project is being financed by Japanese Billionaire Yusaku Maezawa, with a proposed launch in 2023. It will make use of a SpaceX Starship spacecraft with the aim of achieving a single circumlunar trajectory around the Moon. The mission is expected to last 6 days and is currently looking for eight crew members to take part in this historic project.

The space economy

The space economy, as defined by OECD , includes the full range of activities and the use of resources that create value and benefits to human beings while exploring, researching, understanding, managing, and utilizing space. It comprises all public and private sectors involved in developing, providing and using space-related outputs, space derived products and services as well as the scientific knowledge that comes from various space research. Space tourism is a small subsector of the larger space industry that is expected to see exponential growth in the coming decades.

The space economy can be further divided into two categories, space-for-earth and space-for-space activities. Space-for-earth activities are the activities that produce goods or services in space for use on earth. These activities currently dominate the space economy in terms of revenue and include activities such as telecommunications and internet infrastructure, earth observation capabilities, national security satellites, and more. In contrast, space-for-space activities are the activities that produce goods or services in space for use in space. These activities are currently experiencing high levels of growth, with space tourism opening the door for businesses to start creating an array of space-for-space goods and services over the next several decades.

The space economy is one that is continuously growing and evolving alongside the development of the space sector as well as the further integration of space into our society and economy.

Current trends in the space industry including the increasing public interest and investment in space activities worldwide, the unprecedented levels of private investment in space ventures, and the growing space industry revenues have led predictions of the space industry being the next trillion-dollar industry by 2040.

The space tourism market

Space tourism has finally become a reality, and while the ticket cost is still unobtainable to most, the cost of booking a trip to the stars is expected to gradually decrease as companies continue to find new and innovative ways to make space tourism more efficient and inexpensive.

Due to significant technological innovations coupled with the increased interest in having access to space, the space tourism market is expanding at a rapid growth rate.

(Graph 1: 2021 Global Space Tourism Market Share)

The global space tourism market size was valued at USD 598 million in 2021, with the commercial space tourism market dominating in 2021, gaining a market share of 56.7%. In 2021 alone, there were thirteen commercial spaceflight missions undertaken, with Virgin Galactic, Blue Origin, SpaceX, and NASA having undertaken the majority of spaceflight missions to transport non-astronaut individuals across space and bring them back to Earth after a certain period.

(Graph 2: U.S. Space Tourism Market Size 2020-2030)

North America led the overall market in 2021, with a market share of 38.3%. The U.S. Space tourism market is the largest globally, valued at USD 191.6 Million in 2021. Factors including advancements in technology, rising interest in space travel, and increased focus on research and development activities for space tourism are some of the factors fueling the growth of the market. The U.S. Space tourism market is expected to expand at a compound annual growth rate (CAGR) of 37.1% from 2022 to 2030, meaning the space tourism market is predicted to be a multi-billion-dollar market in the coming decade.

The future of Space Tourism

Space tourism is expected to grow far beyond tourists traveling to space just for the ride, with orbital space flights involving tourists staying in space for a period of time, while the international space station is the only habitable structure in space now, companies have begun to look beyond this.

Designs for Voyager Station , the first ever space hotel were released in 2019 by the Gateway Foundation. The project is now being overseen by Orbital Assembly Corporation , a space construction company, who has recently taken over the project from the Gateway Foundation and is now aiming to launch two space stations with tourist accommodation: Voyager Station, the original design, as well as a new concept design Pioneer Station . Voyager Station is scheduled to open in 2027 and will accommodate an expected 400 tourists. The Pioneer Station is expected to open in three years, housing 28 tourists at a much smaller capacity. While the international space station is primarily a place of work and research, Orbital Assembly’s space hotel fulfills a different niche; they offer a destination for space tourists. While collaborations between Orbital Assembly and the companies organizing space flight such as Virgin Galactic, Blue Origin and Elon Musk’s company SpaceX have not been publicly announced, they are expected.

It is likely that space tourism will continue to grow in the years to come, and competition between private space companies for leadership will intensify. There is no doubt that private space tourism will have a substantial economic impact. While space tourism is currently a small subsector of the larger space economy, it will redefine it in the coming decades.

It is likely that the space tourism industry will evolve during the next decade, as barriers to entry will be reduced, competition will grow, costs will be lowered, and eventually, space travel will be affordable for everyone. The future of space tourism has the ability to positively impact many socioeconomic factors on Earth including creating jobs, educating citizens about space and fostering further innovation in the space economy.

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38 Billion-Dollar Business Ideas You Can Start Today [2024]

Interested in starting a Billion Dollar business idea but not sure what it is?

Launching billion-dollar business ideas takes patience and a well-thought strategy. Luckily, there are different billion-dollar startup ideas you can start in 2024.

We put together 38 of the best billion-dollar ideas you can start.

For each business idea, we’ll show you real-world examples of other billion dollar business ideas so you see what it takes.

Here's the full list:

1. Start a men's underwear brand ($477K/month)

Underwear is essential to any person’s wardrobe, and the men’s underwear industry has grown quite large.

Many companies, such as Calvin Klein, Ralph Lauren, and Hugo Boss, specialize in men’s underwear. These companies have been able to keep up with the demand of this growing industry by offering quality products at reasonable prices.

The demand for men’s underwear has risen because it offers an alternative to traditional cotton briefs. Men are increasingly realizing that they don’t want the same old thing when it comes to their underwear; they want something that feels like luxury and provides them with comfort and support.

With so many opportunities available today, it’s easy to see why more people are turning to this industry to start their businesses.

How much you can make: $800 — $475,000,000/month

How much does it cost to start: $4,000 (?)

How long does it take to build: 470 days (?)

Case Study How We Built A Boxer Briefs Brand To $5K/Month With Zero Experience Founder Krystian Frencel shares how he built a men's luxury underwear brand, Bunch of Animals, to $5,000/month with no previous e-commerce or product creation experience, offering softer than soft boxer briefs featuring seamless designs in collaboration with artists from around the world. $5K Monthly Revenue 12 31.3K

2. Start a NFT marketplace ($30K/month)

An NFT marketplace is an online site for crypto-collectibles and non-fungible tokens where traders can buy-sell and discover exclusive digital items.

Launching an NFT marketplace requires setting up a blockchain network, integrating a chosen digital wallet, and creating smart contracts. Finally, you need to build a customer-facing web application.

Experts estimate that NFT marketplaces will continue experiencing a YoY growth of 30.72% .

Therefore, NFTs are becoming some of the most profitable blockchain-based experiments.

How much you can make: $30,000/month

How long does it take to build: 60 days (?)

Case Study How We Accidentally Built The Most Advanced NFT System In The World RMRK developed the most advanced NFT system in the world, generating $1 million per month in volume and $30k per month in revenue, due to founder Bruno's hack to put NFTs onto a chain without smart contracts. $30K Monthly Revenue $350K Startup Costs 3 9.94K

3. Start a construction company ($350K/month)

Running a construction company can be very rewarding and require hard work, attention to detail, and a hustle mentality.

Construction companies are responsible for building/designing a variety of apartments, buildings, properties, housing, infrastructure, facilities & developments, motorways, roads, paths, pavement, and more.

How much you can make: $10,000 — $10,000,000/month

How long does it take to build: 120 days (?)

Case Study How I Gamed The YouTube Algorithm and Went Viral With 25M Views Mountain Fire Woodworks founder Cameron Vilcsak shares how he used YouTube to promote his log cabins, chainsaw carvings, and passion for woodworking, culminating in one of his videos that has gone viral with over 25 million views and counting. $40K Monthly Revenue $50K Startup Costs 10 8.52K

4. Start a hair product line ($551K/month)

Starting a hair product line can be a fun and profitable way to build a new income stream. It's also fairly easy, as long as you plan it out (and maybe do a little bit of market research before creating your sales funnel). There's a reason we often talk about trends in hip-hop and pop culture when we talk about hairstyles — they often have a lot to do with advancements in the hair product industry. The industry is expected to grow to 102 billion dollars by 2024 .

How much you can make: $550 — $2,000,000/month

How long does it take to build: 365 days (?)

Case Study How I Started A $650K/Month Hair Extensions And Products Business Private Label Extensions is a hair distribution and technology company that builds hair brands from A to Z for entrepreneurs, achieving over $650,000 in monthly sales and ranked #278 of the fastest-growing companies by Inc Magazine for 2018. $650K Monthly Revenue $14K Startup Costs 17 37.4K

Learn more:

5. Start a recruiting agency ($270K/month)

The global online recruitment market size was $29B in 2019 and is projected to reach $43B by 2027.

The best way to assess the success of a Recruiting Agency is to review what their clients say about them and the results achieved for those clients.

As a recruiter, you dream of landing your first client, but once you do, you realize it’s only the start of what you hope will be a successful business. Have you ever wondered how to start a recruiting agency business? There’s so much you can learn from books, but nothing beats getting real-world experience.

How much you can make: $100 — $320,000/month

How long does it take to build: 90 days (?)

Case Study How I Started A $3M/Year Remote Worker Recruitment Agency DistantJob is a unique recruitment agency that specializes in finding full-time remote employees, and with $3 million in annual revenue, they offer small to medium-sized tech companies an edge over big competitors who are not willing to hire remotely. $290K Monthly Revenue 19 11.6K

6. Start a crypto cybersecurity system ($230K/month)

Cybercriminals can gain access to entire investments by stealing crypto wallet account keys. Therefore, you must treat crypto accounts with the utmost caution.

Cyber security experts focus on helping companies secure their networks and data from attacks by cybercriminals. Blockchain technologies are receiving massive attention from the research community in different application fields.

Becoming a cybersecurity expert focusing on crypto can be a rewarding career. Coinbase and other cryptocurrency exchanges use blockchain in cybersecurity, allowing users to trade everything from Bitcoin to Litecoin and Ethereum on the company’s secure blockchain platform.

How much you can make: $91,000 — $2,000,000/month

How long does it take to build: 300 days (?)

Case Study How I Started A $45K/Month Cybersecurity Consulting Firm For Startups Cybersecurity consulting firm Eden Data, launched in March 2020, scaled to four team members and generated over $45k MRR without large startup costs through their unique Virtual CISO offering, which outsources cybersecurity and compliance needs for a flat monthly price, rather than charging by the hour or for long-term commitments. $230K Monthly Revenue 12 34.8K

7. Start a food truck ($125K/month)

Food trucks are a highly profitable business that offers customers a variety of meal options out of a mobile truck. This basically operates inside a large vehicle equipped with kitchen and food products. Starting a food truck is a dream for many people, but it's more challenging than it looks. To make it work, you need the ideal location and menu.

To start a food truck business in a particular city, it is mandatory to check what kind of food trucks are already operating, identify a gap, and bring in some new experiences. Then, with the right plan and the right approach, you can be on your way to starting your own food truck empire.

How much you can make: $29,166 — $61,650,000/month

How long does it take to build: 75 days (?)

Time commitment per week: Min. 5 hours/week

Case Study How I Took Food Trucks Corporate And Built A $18M Business Food Fleet grew over 160% in just one year and managed over 20 million in sales for its clients, securing multiple contracts with the likes of Sodexo, Levy Restaurants and more, due to its understanding of catering client needs and its advanced turnkey and design services. $1.5M Monthly Revenue 15 14.9K

8. Start an ecommerce marketing agency ($74.8K/month)

Ecommerce agencies help online sellers achieve their eCommerce business goals through creative, technology, and marketing skills.

Hiring an eCommerce agency enables online sellers to start an eCommerce business or grow an existing one without employing full-time staff.

The eCommerce industry is often changing, and online sellers must match the current trends or risk being paced out by the competition. Balancing between production, launching creative services, and working on growing their eCommerce brands can be extremely difficult. Thus, the brands have no other option than hire eCommerce agencies.

Starting an eCommerce agency can be a profitable and fulfilling business opportunity. If you plan to state your eCommerce agency, educate yourself on the current trends and focus on building digital skills. You may focus on a particular niche or offer end-to-end services to your customers.

How much you can make: $1,500 — $465,583,333/month

How much does it cost to start: $1,500 (?)

How long does it take to build: 52 days (?)

Case Study How I Started A $120K/Month Online Course For Social Media Marketing Agencies Iman Gadzhi made over $1.2M in profit within two years with his social media marketing agency and education company, where he teaches entrepreneurs how to start and scale a profitable SMMA, with over 45 of his students making over six figures with their SMMA, and over 300 students having quit their regular jobs. $120K Monthly Revenue 15 14.5K

9. Start a supplements company ($585K/month)

A supplement business makes money by selling dietary supplements, vitamins, protein powders, and health foods to customers.

These products are often sold directly to customers or through distributors and retailers.

Your target customers will likely include fitness enthusiasts, health-conscious individuals, wellness influencers, and those who prioritize their nutrition daily.

Starting a supplement brand is becoming increasingly popular because it's relatively inexpensive, and you can run the business from your home.

How much you can make: $1,000 — $3,500,000/month

How long does it take to build: 220 days (?)

Case Study How An Active Duty Soldier Built $6M/Year Bare Performance Nutrition A military officer turned entrepreneur built sports nutrition brand Bare Performance Nutrition from $15,000 in year one to on track to generate $6m in revenue this year, leveraging social media platforms and creating interactive, relatable and valuable content to create a community and a brand voice. $3.5M Monthly Revenue $20K Startup Costs 26 41K

10. Start a niche web design business ($65K/month)

Niche web design business focuses on a specialized market such as law, home improvement, videography, fashion, etc. typically, when a web designer niches down their services, they are simply choosing to concentrate on one industry and create websites for businesses within the particular niche. To become a niche web designer, consider honing the following skills and personal qualities:

Visual design, HTML, CSS, JavaScript
Strong communication skills
Analytical thinking and problem-solving skills
Teamwork and research skills
Attention to detail

Narrowing your focus to a particular niche gives you a higher chance of becoming a recognized expert and places you in a better position to charge more for your services.

How much you can make: $200 — $200,000/month

How much does it cost to start: $1,000 (?)

How long does it take to build: 40 days (?)

Case Study How I Started A $30K/Month Web Development And Marketing Agency Focused On Locksmiths The Locksmith Agency, run by Samuel Wilson, a licensed locksmith with over 10 years of digital marketing experience, is making $30k+ per month by providing digital marketing services such as Website Development, SEO, and Google Listing optimization services specifically for the locksmith industry. $30K Monthly Revenue $500 Startup Costs 8 6.53K

11. Start a mobile app development business ($79.2K/month)

Mobile app development is the process of creating software applications that run on mobile devices. These apps can be used for a variety of purposes, including games, productivity, and social networking.

Starting a mobile app development business is a great way to enter the world of software development. This type of company is growing in popularity as businesses are looking for ways to reach their customers through mobile apps.

To start a mobile app development company, you need to have strong technical skills and be able to develop high-quality software. You should also have a good understanding of how to market and sell mobile apps

How much you can make: $7,500 — $2,333,333/month

How much does it cost to start: $7,500 (?)

Case Study How We Started A $82K/Month Custom iOS And Android Apps Development Agency "We started a custom iOS and Android app development consultancy that now makes nearly seven-figures a year by landing clients like Great Clips and the USA CUP after building successful concept apps." $80K Monthly Revenue $500 Startup Costs 12 10.8K

12. Build an iPhone app ($5.14K/month)

The iPhone is the most popular mobile device in the world. It has changed how we interact with information, entertainment, and communication.

The iPhone has also changed the way we interact with each other. Since its release in 2007, it has become a staple in most people’s lives. It is more than just a phone; it is a tool for staying connected to friends and family and creating new connections.

The iPhone app market is an ever-changing landscape of innovation: it’s not just about making something that works well; it’s about creating something that stands out from the crowd.

It would help if you had something that appeals to your audience to succeed in this market. This can be as simple as ensuring your app has a catchy name or as complex as developing an entire brand identity around your app’s functionality.

How much you can make: $150 — $2,000,000/month

How much does it cost to start: $6,500 (?)

How long does it take to build: 180 days (?)

Case Study How I Created A $60K/Month App That Collects In-Person Payments Through Stripe Payment.co, an app built on top of the Stripe payment gateway for creating card-present charges, has grown to process over $70M in volume annually since launching in 2015, with the app collecting a 1% service fee on every single charge. $60K Monthly Revenue $0 Startup Costs 15 19.4K

13. Start a dropshipping business

Dropshipping is a business model where you sell products to customers without holding inventory.

Instead, when a customer makes a purchase, you buy the product from a third-party supplier, who then ships it directly to the customer.

To start a dropshipping business on a budget, choose a niche or category of products you want to sell.

Next, set up an online store using platforms like Shopify or WooCommerce. Then, find reliable suppliers from platforms like AliExpress, list their products on your store, and focus on marketing and customer service to grow your business.

Remember to carefully manage your expenses and monitor your profit margins to ensure profitability.

How much you can make: $6,000 — $3,000,000/month

How much does it cost to start: $6,000 (?)

Time commitment per week: Min. 10 hours/week

Case Study How I Started A $100K/Month Business Mentoring Dropshipping Entrepreneurs Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump. $100K Monthly Revenue $1K Startup Costs 16 24.9K

14. Start a digital agency ($163K/month)

A digital agency’s task is to make a business reach its advertising, marketing, or technology-related goals. Anyone with enough knowledge and passion for digital marketing can start and run a profitable digital marketing agency. With the proper skill set, the right tools, and the right mindset, you can start a successful digital agency.

The global digital agency market reached a value of nearly $305B in 2020 . The future growth prospects of the digital agency market are projected to be high due to the rising population of people consuming and creating content through digital channels.

How much you can make: $6,500 — $43,700,000/month

Case Study How I Started A $22K/Month One-Stop Shop Marketing Company For E-commerce Businesses Power Move Marketing is an innovative digital marketing company founded by Hailey Brooke McFadden, which has achieved an impressive monthly income of $22,075 and is projected to make almost $300,000 in its first year, by offering a one-stop-shop for e-commerce businesses looking for a marketing powerhouse with a female positive culture. $22K Monthly Revenue $400 Startup Costs 15 11K

15. Start a SEO agency ($163K/month)

An SEO agency is a company that provides search engine optimization services to businesses. The function of an SEO agency is to help businesses rank higher in search engines through organic or paid means.

SEO is a rapidly growing industry, with experts across all aspects of the field already making six-figure incomes and expecting to see these earnings grow dramatically over the next few years. Getting into SEO today, before it gets too saturated, will allow you to establish a strong base in a new career, with an excellent chance for success.

It’s easier than ever to start your SEO agency. The tools are there, and the competition isn’t as stiff as it used to be. If you’re considering starting an SEO or digital marketing agency, it might be a good idea to learn how other digital agencies succeed.

How much you can make: $1,000 — $1,800,000/month

Case Study How I Started An SEO Agency For Lawyers Generating $3.6M/Year Rankings.io is a hyper-focused SEO agency that helps elite personal injury law firms dominate first page rankings and was ranked #858 in the Inc. 5000 list of the fastest-growing companies in America for 2018, with a current revenue just under $300,000 per month, with plans for a record-breaking year. $700K Monthly Revenue 46 37.5K

16. Start a stationery business ($16.3K/month)

A stationery business sells stationery products such as paper goods, notebooks, greeting cards, and envelopes.

The best part about starting a stationery business is that it's relatively easy and inexpensive to get started.

Since there are so many different types of products available in this industry, there are endless opportunities for creativity, customization, and expansion.

You could even start out small by selling your products on Etsy or eBay before opening up an actual storefront.

How much you can make: $200 — $1,000,000/month

How much does it cost to start: $1,250 (?)

Case Study How I Started A $12K/Month Business Selling Productivity Planners Online Chasing Planner Peace is a planner company that has expanded from selling planner inserts on Etsy, to offering a one-stop shop customizable planner experience with over 300 inserts, a planner line, and various other related products, gaining a monthly revenue of around $25,000 at its busiest time of year. $22.5K Monthly Revenue 25 62.4K

17. Start a RV rental business ($80K/month)

An RV rental business involves acquiring a fleet of recreational vehicles to rent out as campers for travelers and vacationers.

As an RV rental business owner, you supply motorhomes equipped with living essentials for road trips and outdoor getaways.

With flexibility around RV classes from luxury to budget rates, building inventories and customizing rental packages can create diverse revenue streams.

For hospitality-inclined founders seeking an accessible franchise, an RV rental company presents a promising venture as pandemic-weary travelers prioritize domestic trips focused on flexibility and the outdoors.

How much you can make: $2,000 — $250,000/month

Case Study How We Started A Camper Van Rental Business and Quit Our Full Time Jobs ROAMERICA, a campervan rental company founded by Taylor Hood and Gretchen Bayless who quit their full-time jobs to focus on their business and have expanded their fleet quickly to meet the demand of adventure-seeking customers, with most of their web traffic coming from organic Google searches and a focus on social media and brand awareness. $10K Monthly Revenue $25K Startup Costs 13 37K

18. Start a youtube channel

For anyone looking to start a successful YouTube channel, there are plenty of YouTube channel success stories that can be used as inspiration and encouragement. In addition, YouTube has an established monetization system and boasts incredible popularity, making it a potential platform for revenue generation.

In this article, we'll look at different approaches you can use to help promote your channel and grow your viewers. While there's no quick and easy way to success, you can take these tips to build your own YouTube Channel Success story. If you love content creation, you can capitalize on YouTube's popularity to earn extra income.

If you want to join the Youtube partner program to monetize your channel, you will need to reach a minimum of 1,000 subscribers and 4,000 watch hours in the previous 12 months.

How much you can make: $800 — $4,500,000/month

How much does it cost to start: $500 (?)

How long does it take to build: 48 days (?)

Case Study How This Couple Makes $5K/Month Generating Content About Ways To Make Money Online Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth. $5K Monthly Revenue $500 Startup Costs 9 14.3K

19. Start a jewelry making business ($363K/month)

The global jewelry market size was valued at $278B in 2018 and is expected to reach $292B by 2025.

The industry comprises manufacturers, wholesalers, retailers, and jewelry designers. Unlike many other industries that have gone through leaps in technology, the jewelry industry has remained untouched for over 40 years.

If you know how to make jewelry, then this might be a great way to make some extra money.

How much you can make: $1,000 — $2,000,000/month

How much does it cost to start: $3,500 (?)

Case Study How A Teacher Started A Successful Handmade Jewelry Business Online A primary school teacher found his passion for jewelry-making, turning it into a successful business generating $2500-3000 per month through sales at the Creative Queenstown Arts and Crafts Market, online, and through stockists, with plans to expand and eventually make it his full-time profession. $2.5K Monthly Revenue 7 42.1K

20. Start an in-home senior care business

With the busy lifestyle, family members are often absent and employ in-home caregivers to look after the elderly parents.

Caregivers assist the elderly with personal care routines, including bathing, grooming, dressing, toileting, and exercising. Caregivers also oversee medication & prescription usage and administer medicine.

Researchers anticipate a shortage of more than 100,000 caregivers for the elderly in the next decade. Therefore, starting an in-home senior care business is a great opportunity if you enjoy caring for the elderly and spending time with them. You can choose to work as an overnight caregiver or whichever work schedule suits you.

How much you can make: $250,000/month

How long does it take to build: 150 days (?)

Case Study How I Started A $250K/Month A Home Care And Nursing Service Provider The CareSide scaled to $5 million in revenue over 3 years by utilizing a data-driven approach to sales and marketing, with a focus on Google Adwords and Facebook ads, and implementing extensive automation into back end systems. $250K Monthly Revenue $200K Startup Costs 11 15.5K

21. Start a legal services business

Cryptocurrency lawyers are professionals who offer sophisticated and knowledgeable legal counsel to clients navigating the rapidly evolving cryptocurrency and blockchain space. They provide clients guidance concerning litigation, money transmission, token offerings, and other crypto-related issues.

To become a cryptocurrency lawyer, you should have in-depth knowledge about token issues. Besides, you should have a certified degree of law from an accredited institution. Lawmakers in Washington D.C. and across the world continue figuring out how to establish laws and guidelines to make crypto safer for investors and less appealing to cybercriminals.

Therefore, this is a great opportunity for crypto lawyers to participate in shaping the future of crypto transactions.

How much you can make: $4,500 — $250,000/month

Case Study We Are A Multi-Million Dollar Legal Service Business, Giving A Voice To The Bullied This case study follows the growth from scratch of a Personal Injury and Criminal Defense law firm that started from direct mail campaigns and has now expanded into a multi-million dollar-a-year business with the goal of becoming an 8 figure firm, while maintaining a customer-centric approach and fostering a culture of innovation and excellence. $250K Monthly Revenue $200 Startup Costs 6 6.39K

22. Start a skin care product line ($109K/month)

The skincare business is a multi-billion dollar one, and it shows no sign of slowing down. New anti-aging products are entering the market at a nearly exponential rate, and the competition for consumers' money is growing more and more.

The industry was valued at 130 billion USD in 2021 and will expand at an annual growth rate of 4.6% up to 2030. This is surely a type of business that you should not miss. You'll need to build your creativity on your products and make sure that it is all safe and useful in improving the skin of your customers.

How much you can make: $300 — $1,000,000/month

How long does it take to build: 165 days (?)

Case Study How Two Moms Started A Business Selling Homemade Body Butter Two moms start a side hustle selling all-natural body products, doubling sales since their launch in 2017 with over 75 craft shows, promoting a non-profit source for their shea butter and self-promotion through podcasts, lining up retail interest from exposure. $2K Monthly Revenue $10K Startup Costs 7 33.9K

23. Start a fashion business ($13.3K/month)

In 2022, the fashion industry was valued at $473.42B, with a growth rate of 8.3% over last year . To become successful in this highly competitive & ever-growing industry, you must have passion, perseverance, and the ability to take risks.

With platforms like TikTok and Instagram, the way that fashion products are marketed online has completely changed, so it’s essential to keep up with these trends.

How much you can make: $100 — $40,480,000/month

Case Study How I Make $10K/Month Selling Printable Sewing Patterns From My Fashion Blog Learn how this DIY blogger turned sewing pattern maker generates over $10k per month in passive income, and discover her tips for building an authentic brand on a budget. $10K Monthly Revenue $50 Startup Costs 7 26.7K

24. Start a custom prints business ($632K/month)

Custom print businesses often focus on printing everything, including business cards, photos, and even custom T-shirts.

To start an online custom prints business, choose a niche to help your business stand out and attract the right target audience. Then, focus on producing quality prints of different sizes, materials, and designs. You may hire designers online or search for designs in online design communities. Then, validate the designs before you begin mass production. Finally, set up an online store, and launch the business.

Remember that with the growth in popularity of selling custom prints, expect to face stiff competition. Therefore, you should market your custom prints on social media to maximize your reach.

How much you can make: $3,700 — $3,000,000/month

How much does it cost to start: $3,000 (?)

Case Study How I Stumbled Into A $300K Business Framing Tweets Framed Tweets, an online store that offers customers the opportunity to frame tweets as art, started by grossing $20k in its first year and increasing to $110k in the second year, and now has monthly gross sales of $20k from Instagram ads, spending about $300 a day. $9.5K Monthly Revenue $999 Startup Costs 55 42.2K

25. Start a 3D Printing Business ($260K/month)

3D printing is a process that assembles objects layer by layer and starting a business in this industry can be a very creative venture.

You will need investment in the right equipment and materials, and the acquisition of 3D modeling and design skills. You will also need to regularly calibrate and maintain your 3D printers to deliver consistent results.

Plan how you'll handle shipping and logistics, and leverage technology to find new applications of 3D printing in all industries.

How much you can make: $42,000 — $330,000/month

How long does it take to build: 360 days (?)

Case Study How I Started A $330K/Month Ecommerce Specialized In 3D Printing Founder Roy Kirchner shares how he started an eCommerce business specializing in 3D printing with an initial investment of $65,000, which now averages monthly gross sales of $330,000 and has partnered with international manufacturers and local businesses while offering technical support and education. $330K Monthly Revenue $65K Startup Costs 18 29.9K

26. Become a social media consultant ($13.4K/month)

Social media has become popular due to its ability to link businesses to their target customers. Social media consultants are professionals who help their clients improve, optimize and grow their social media presence. Becoming a social media consultant comes with work flexibility and higher earning potential, but it also takes time and work commitment to grow the business.

To become a social media consultant, you must first become adept at using social media platforms and industry tools. Take online or offline courses like content marketing, public relations, and communication skills. Social media experts can choose a general practice or opt to focus on a niche.

How much you can make: $100 — $990,000/month

How long does it take to build: 30 days (?)

Case Study How I Bootstrapped A Social Media Automation Tool To $2MM/Year MeetEdgar, a bootstrapped social media automation tool founded in 2014 by Laura Roeder, has grown to $4 million in annual recurring revenue and more than 5,000 customers, with a team size of two dozen, achieved through content marketing, social media marketing, and organic search. $333K Monthly Revenue 20 14.7K

27. Start a wellness and natural health business

Have you been toying with the idea of starting a business in the medical sector? How about the wellness and natural health business?

With an approximately 6.4% YoY growth rate, the health and wellness industry is one of the best business ideas you will think of starting today. Health and wellness professionals include health coaches, personal trainers, and even yoga teachers.

If you plan to start a health and wellness business in 2024, find your area of focus, and determine the kind of service or product you will provide. Research the market and find an ideal location.

You may choose the eCommerce or hybrid model, where you have a physical office and online consultation.

How much you can make: $25,500 — $200,000/month

Case Study I Created A $2.7M/Year Software That Extends People's Lives By Analyzing Their DNA Founder and CEO of SelfDecode, Joe Cohen, explains how his company helps people discover personalized diet, supplement, and lifestyle recommendations based on DNA and lab tests; generating about $2.7 million in revenue over the past year and raising $8 million in a crowdfunding campaign, SelfDecode provides personalized health recommendations prioritized on unique genetic variants, marking the future of healthcare. $200K Monthly Revenue $500K Startup Costs 11 6.4K

28. Become a real estate agent ($350K/month)

Real estate agents are professionals who assist clients in marketing and selling their properties. They also assist the buyers in purchasing properties. Their services include meeting clients, advising them about market conditions, and providing guidance through the process of buying or selling properties.

A real estate career can be financially rewarding. However, the work requires good management skills, organization skills, customer service, handling complex paperwork and socially promoting yourself.

The pros of becoming a real estate agent include earning extra commission from clients and also setting your own working hours.

How much you can make: $5,000 — $1,500,000/month

Case Study How I Became A Real Estate Agent And Started My Own Firm Residential real estate company, Vesta Preferred, celebrates their 10th year of operation with 80% referral-based business and focus on relationship building, recently achieving their goal of 1000 new leases and $120M in real estate sales in 2019. $350K Monthly Revenue $5K Startup Costs 19 7.93K

29. Start an etsy shop

Etsy has been around for over a decade, and the platform has become more popular for creators, entrepreneurs, and consumers.

The platform started as a place for crafters to sell their supplies and handmade goods. Now it has become a venue for artists and small businesses of all kinds to sell their products.

If you just started your shop or want to sell your products on Etsy, there are many different ways to kill on the platform. With the tips and advice of Etsy sellers who’ve been in your position, you’ll soon be successful!

How much you can make: $100 — $750,000/month

30. Start a digital marketplace

A digital marketplace is a platform creating avenues for buyers and sellers to transact. The service matches potential buyers with sellers and provides a secure trading platform.

These platforms do not own any products traded via them; hence they are low-cost and low-maintenance business ideas and generate a passive income over their lifetime.

All you need is to build an application like Alibaba or Amazon and provide a secure escrow service so traders trust your platform.

How much you can make: $12,500 — $6,660,000/month

Case Study Empire Flippers: $20M/Year Helping People Buy And Sell Websites Empire Flippers is a thought leader in brokering online business deals, having brokered over $50 million worth of deals and grown their pool of potential buyers by hundreds every month through a focus on content marketing and middle-of-funnel content. $350K Monthly Revenue 19 10.1K

31. Start a cleaning business ($87.5K/month)

Starting a cleaning business is an excellent opportunity to be your boss and make money doing what you love. This business is relatively easy to create and does not require much equipment or funds.

There are many cleaning services, so deciding what services (or combination of services) you will offer and what hours of the day or week those services will be available is essential.

To start cleaning service, you’ll want to consider investing in professional cleaning equipment such as a vacuum cleaner, a quality mop, and a good cleaning bucket. You will also need to buy environment-friendly cleaning products such as detergent, bleach, paper towels, and trash bags.

How much you can make: $2,000 — $708,333/month

Case Study How I Started A $100K+/Month Home Cleaning Service For Busy Individuals And Airbnb Hosts MaidThis®, launched by Neel Parekh in Los Angeles with just one cleaner in 2013, has achieved over $10 million in total revenue by focusing on cleaning Airbnbs and vacation rentals, thanks to its successful remote business model and new-age marketing tactics, and has now launched MaidThis Franchise to expand the business further. $100K Monthly Revenue $800 Startup Costs 21 20.6K

32. Start a newsletter ($3M/month)

Did you know that in the past five years, there has been more than a 50% increase in the number of people who read newsletters?

Newsletters are one of the few things you can use to market yourself as a trusted expert. A well-written newsletter can educate your subscribers and build connections with them.

Email newsletters are a great way to connect with customers and potential customers. It’s a newsletter’s job to inform, persuade, and sell to your audience.

How much you can make: $100 — $3,000,000/month

How much does it cost to start: $400 (?)

How long does it take to build: 22 days (?)

Case Study How I Started A $36M/Year Stock Market Research Newsletter Financial media company MarketBeat, founded by Matt Paulson, provides objective financial information and real-time market data to empower individual stock investors to make better trading decisions, generating approximately $8 million in revenue in 2019 and ending the year with over 1.3 million unique email subscribers due to a freemium model with 75% of revenue from advertising and 25% from subscriptions. $3M Monthly Revenue 1727 26.8K

33. Create an online course ($118K/month)

An online course business involves creating and selling digital classes teaching specialized skills or knowledge to subscribed students.

As an entrepreneurial course creator, you identify educational gaps around topics you have expertise in and develop engaging video lessons and supplementary materials.

With flexibility around self-paced or cohort-based structures, building a student base provides passive income potential.

For founders who enjoy information-sharing, launching an online course platform presents a lucrative way to monetize your instructional talents with small startup costs by serving eager lifelong learners seeking convenient access to emerging subjects.

How much you can make: $350 — $3,735,000/month

How much does it cost to start: $1,850 (?)

Case Study How This 28-Year-Old Couple Quit Their Jobs And Make $20K/Month Running A Blog Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management. $20K Monthly Revenue $500 Startup Costs 21 27.7K

34. Start an online fitness business ($15.8K/month)

Thinking of starting an online fitness business?

Online fitness is growing rapidly in popularity because it’s convenient, affordable, and accessible to everyone. The best part is that you can stay in your home to start.

Starting an online fitness business can be a great way to make money and help people. When you start an online fitness business, you don’t have to worry about overhead costs like rent or maintaining a physical location - all you need is a computer and an internet connection to get started.

How much you can make: $2,000 — $108,333,333/month

How much does it cost to start: $2,000 (?)

Case Study How I Started A $48K/Month Business With An Online Fitness Training Service This case study is about a former personal trainer who launched his online personal training platform, TeamFFLEX, starting with no money and a lot of drive, and grew it into a 6-figure business in less than a year, now doing $48,000 a month with potential for continued growth. $82K Monthly Revenue $500 Startup Costs 13 25.6K

35. Start a storage rental business

Are you planning to start a passive income business? Storage unit business is an excellent choice for passive income.

Storage spaces offer a solution for people and businesses with too many things but lack enough space to store the items. Besides, the demand for storage space has increased and is expected to reach over $64 billion in the next few years.

Therefore, if you have some idle land, you can construct storage spaces for rental, ideal for industrial, commercial, and residential clients. If starting a storage business, remember location is a critical factor, and do market research to find out the market rates.

36. Start a construction equipment rentals company

Construction equipment rental can be a profitable business idea, and the need for equipment rental has grown over the last few years. With the increased cost of construction equipment, renting has been a solution for many businesses. Especially new startups in the construction industry are opting for equipment rentals instead of purchasing as this is more cost-effective.

If you are starting a tools and equipment rental business, study the market and find which type of construction equipment gets more demand. Focus on regions where you will have more customers and less competition. Offering quality service will attract repeat business and more referrals.

How much does it cost to start: $5,000 (?)

37. Become an Airbnb host

If you are interested in becoming an Airbnb host, the first step is to create a listing for your property or a portion of it on the Airbnb platform.

This will allow travelers from all over the world to rent your space and enjoy a personalized and unique accommodation experience.

By creating a welcoming atmosphere and providing excellent service to your guests, you can enhance your profile and attract even more visitors to your property.

With the potential to earn a steady stream of passive income, becoming an Airbnb host can be an excellent way to monetize your property.

How much you can make: $1,333 — $270,000/month

How long does it take to build: 215 days (?)

Case Study How I Bootstrapped An Airbnb Management Service To $35K/Month HostButlers is Ireland's first professional property concierge service for short-term rentals on Airbnb, boasting over 200,000 hosted guests and profitability from month 5. $35K Monthly Revenue 16 22.8K

38. Start a furniture business ($124K/month)

The furniture industry involves designing, manufacturing, and selling various types of furniture for household and commercial purposes. With the increase in flexible workspaces and the real estate industry’s growth, the furniture business’s demand is boosted.

The furniture business is easy to start and does not require high investments. However, it is first essential to know your niche, for example, office, domestic, home furniture, and luxury items.

The furniture business needs a lot of preparation and prior knowledge. Taking business classes, learning about your local market, and making a solid business plan is advisable. In general, if your products are unique and one of a kind, consumers will be willing to pay a higher, including the shipping cost.

How much you can make: $1,700 — $999,999/month

Case Study How I Took My Woodworking Hobby Full Time To Build A Successful Brand Sasha Weekes, owner of Timber Grove Studios, turned her fine arts and cabinetmaking education into a successful home-based woodworking business that grew from a side project to netting 20-50% profits month-to-month and up to $10,000 in sales during peak periods through Etsy, with her company's growth continuing to increase through other social media outlets. $6.5K Monthly Revenue 12 58.6K

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A group of people, many wearing head scarves, under an elaborate visual.

‘To the Future’: Saudi Arabia Spends Big to Become an A.I. Superpower

The oil-rich kingdom is plowing money into glitzy events, computing power and artificial intelligence research, putting it in the middle of an escalating U.S.-China struggle for technological influence.

More than 200,000 people converged on the Leap tech conference in the desert outside Riyadh in March. Credit... Iman Al-Dabbagh for The New York Times

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By Adam Satariano and Paul Mozur

Adam Satariano reported from Riyadh, Saudi Arabia, and Paul Mozur from Taipei, Taiwan.

Published April 25, 2024 Updated April 26, 2024

On a Monday morning last month, tech executives, engineers and sales representatives from Amazon, Google, TikTok and other companies endured a three-hour traffic jam as their cars crawled toward a mammoth conference at an event space in the desert, 50 miles outside Riyadh.

The lure: billions of dollars in Saudi money as the kingdom seeks to build a tech industry to complement its oil dominance.

To bypass the congestion, frustrated eventgoers drove onto the highway shoulder, kicking up plumes of desert sand as they sped past those following traffic rules. A lucky few took advantage of a special freeway exit dedicated to “V.V.I.P.s” — very, very important people.

“To the Future,” a sign read on the approach to the event, called Leap.

A view at night from above a city lit up with lights.

More than 200,000 people converged at the conference, including Adam Selipsky, chief executive of Amazon’s cloud computing division, who announced a $5.3 billion investment in Saudi Arabia for data centers and artificial intelligence technology. Arvind Krishna, the chief executive of IBM, spoke of what a government minister called a “lifetime friendship” with the kingdom. Executives from Huawei and dozens of other firms made speeches. More than $10 billion in deals were done there, according to Saudi Arabia’s state press agency.

“This is a great country,” Shou Chew, TikTok’s chief executive, said during the conference, heralding the video app’s growth in the kingdom. “We expect to invest even more.”

Shou Chew, TikTok’s chief executive, promoted the video app’s growth in Saudi Arabia during the Leap conference. Iman Al-Dabbagh for The New York Times
One of the booths at the Leap conference, which was attended by executives from Google, Amazon, TikTok and others. Iman Al-Dabbagh for The New York Times
A robotic dog walking through the Leap conference. Iman Al-Dabbagh for The New York Times

Everybody in tech seems to want to make friends with Saudi Arabia right now as the kingdom has trained its sights on becoming a dominant player in A.I. — and is pumping in eye-popping sums to do so.

Saudi Arabia created a $100 billion fund this year to invest in A.I. and other technology. It is in talks with Andreessen Horowitz, the Silicon Valley venture capital firm, and other investors to put an additional $40 billion into A.I. companies. In March, the government said it would invest $1 billion in a Silicon Valley-inspired start-up accelerator to lure A.I. entrepreneurs to the kingdom. The initiatives easily dwarf those of most major nation-state investments, like Britain’s $100 million pledge for the Alan Turing Institute.

The spending blitz stems from a generational effort outlined in 2016 by Crown Prince Mohammed bin Salman and known as “Vision 2030.” Saudi Arabia is racing to diversify its oil-rich economy in areas like tech, tourism, culture and sports — investing a reported $200 million a year for the soccer superstar Cristiano Ronaldo and planning a 100-mile-long mirrored skyscraper in the desert.

For the tech industry, Saudi Arabia has long been a funding spigot. But the kingdom is now redirecting its oil wealth into building a domestic tech industry, requiring international firms to establish roots there if they want its money.

If Prince Mohammed succeeds, he will place Saudi Arabia in the middle of an escalating global competition among China, the United States and other countries like France that have made breakthroughs in generative A.I. Combined with A.I. efforts by its neighbor, the United Arab Emirates, Saudi Arabia’s plan has the potential to create a new power center in the global tech industry.

“I hereby invite all dreamers, innovators, investors and thinkers to join us, here in the kingdom, to achieve our ambitions together,” Prince Mohammed remarked in a 2020 speech about A.I.

His ambitions are geopolitically delicate as China and the United States seek to carve out spheres of influence over A.I. to shape the future of critical technologies.

In Washington, many worry that the kingdom’s goals and authoritarian leanings could work against U.S. interests — for instance, if Saudi Arabia ends up providing computing power to Chinese researchers and companies. This month, the White House brokered a deal for Microsoft to invest in G42, an A.I. company in the Emirates, which was intended partly to diminish China’s influence.

For China, the Persian Gulf region offers a big market, access to deep-pocketed investors and a chance to wield influence in countries traditionally allied with the United States. China’s form of A.I.-powered surveillance has already been embedded into policing in the region .

Some industry leaders have begun to arrive. Jürgen Schmidhuber, an A.I. pioneer who now heads an A.I. program at Saudi Arabia’s premier research university, King Abdullah University of Science and Technology, recalled the kingdom’s roots centuries ago as a center for science and mathematics.

“It would be lovely to contribute to a new world and resurrect this golden age,” he said. “Yes, it will cost money, but there’s a lot of money in this country.”

The willingness to spend was front and center last month at a gala in Riyadh hosted by the Saudi government, which coincided with the Leap conference. Hollywood klieg lights blazed in the sky above the city as guests arrived in chauffeured Maseratis, Mercedes-Benzes and Porsches. Inside a 300,000-square-foot parking garage that had been converted two years ago into one of the world’s largest start-up spaces, attendees mingled, debated opening offices in Riyadh and sipped pomegranate juice and cardamom-flavored coffee.

“There’s something happening here,” said Hilmar Veigar Petursson, the chief executive of CCP Games, the Icelandic company behind the popular game Eve Online, who was at the gala. “I got a very similar sense when I came back from China in 2005.”

A Sci-Fi Script

Prince Mohammed’s Vision 2030 project, unveiled eight years ago, seems taken from a science-fiction script.

Under the plan, new futuristic cities will be built in the desert along the Red Sea, oriented around tech and digital services. And the kingdom, which has piled billions into tech start-ups like Uber and investment vehicles such as SoftBank’s Vision Fund, would spend more.

That drew Silicon Valley’s attention. When Prince Mohammed visited California in 2018, Sergey Brin, Google’s co-founder, escorted him through a tree-lined path at the company’s campus. Tim Cook, Apple’s chief executive, showed him the company’s products. The prince also traveled to Seattle, where he met with Bill Gates of Microsoft; Satya Nadella, the company’s chief executive; and Jeff Bezos of Amazon.

It was a key moment for Saudi Arabia’s tech ambitions as Prince Mohammed presented himself as a youthful, digitally savvy reformer. But enthusiasm dimmed a few months later when Jamal Khashoggi, a Washington Post columnist and critic of the crown prince, was killed at the Saudi Consulate in Istanbul. Prince Mohammed denied involvement, but the C.I.A. concluded that he had approved the killing .

For a brief period, it was seen as untoward to associate with Saudi Arabia. Business executives canceled visits to the kingdom. But the lure of its money was ultimately too strong.

A.I. development depends on two key things that Saudi Arabia has in abundance: money and energy. The kingdom is pouring oil profits into buying semiconductors, building supercomputers, attracting talent and constructing data centers powered by its plentiful electricity. The bet is that Saudi Arabia will eventually export A.I. computing muscle.

Majid Ali AlShehry, the general manager of studies for the Saudi Data and A.I. Authority, a government agency overseeing A.I. initiatives, said 70 percent of the 96 strategic goals outlined in Vision 2030 involved using data and A.I.

“We see A.I. as one of the main enablers of all sectors,” he said in an interview at the agency’s office in Riyadh, where employees nearby worked on an Arabic chatbot called Allam.

Those goals have permeated the kingdom. Posters for Vision 2030 are visible throughout Riyadh. Young Saudis describe the crown prince as running the kingdom as if it were a start-up. Many tech leaders have parroted the sentiment.

“Saudi has a founder,” Ben Horowitz, a founder of Andreessen Horowitz, said last year at a conference in Miami. “You don’t call him a founder. You call him his royal highness.”

Some question whether Saudi Arabia can become a global tech hub. The kingdom has faced scrutiny for its human rights record, intolerance to homosexuality and brutal heat. But for those in the tech world who descended on Riyadh last month, the concerns seemed secondary to the dizzying amount of deal-making underway.

“They are just pouring money into A.I.,” said Peter Lillian, an engineer at Groq, a U.S. maker of semiconductors that power A.I. systems. Groq is working with Neom, a futuristic city that Saudi Arabia is building in the desert, and Aramco, the state oil giant. “We’re doing so many deals,” he said.

Torn Between Superpowers

Situated along the Red Sea’s turquoise waters, King Abdullah University of Science and Technology has become a site of the U.S.-Chinese technological showdown.

The university, known as KAUST, is central to Saudi Arabia’s plans to vault to A.I. leadership. Modeled on universities like Caltech, KAUST has brought in foreign A.I. leaders and provided computing resources to build an epicenter for A.I. research.

To achieve that aim, KAUST has often turned to China to recruit students and professors and to strike research partnerships , alarming American officials. They fear students and professors from Chinese military-linked universities will use KAUST to sidestep U.S. sanctions and boost China in the race for A.I. supremacy , analysts and U.S. officials said.

Of particular concern is the university’s construction of one of the region’s fastest supercomputers, which needs thousands of microchips made by Nvidia, the biggest maker of precious chips that power A.I. systems. The university’s chip order, with an estimated value of more than $100 million, is being held up by a review from the U.S. government, which must provide an export license before the sale can go through.

Both China and the United States want to keep Prince Mohammed close. A.I. ambitions add a new layer of geopolitical significance to a kingdom already key to Middle East policy and global energy supplies. A 2016 visit to Saudi Arabia by Xi Jinping, China’s leader, paved the way for new tech cooperation. Accustomed to top-down industrial policy, Chinese companies have expanded rapidly in the kingdom, forming partnerships with major state-owned companies. The United States has pushed Saudi Arabia to pick a side, but Prince Mohammed seems content to benefit from both nations.

Mr. Schmidhuber, the researcher leading KAUST’s A.I. efforts, has seen the jostling up close. Considered a pioneer of modern A.I. — students in a lab he led included a founder of DeepMind, an innovative A.I. company now owned by Google — he was lured to the desert in 2021.

He was reluctant to move at first, he said, but university officials, via a headhunter, “tried to make it more attractive and even more attractive and even more attractive for me.”

Now Mr. Schmidhuber is awaiting the completion of the supercomputer, Shaheen 3, which is a chance to attract more top talent to the Persian Gulf and to give researchers access to computing power often reserved for major companies.

“No other university is going to have a similar thing,” he said.

Some in Washington fear the supercomputer may provide researchers from Chinese universities access to cutting-edge computing resources they would not have in China. More than a dozen students and staff members at KAUST are from military-linked Chinese universities known as the Seven Sons of National Defense, according to a review by The New York Times. During the Trump administration, the United States blocked entry to students from those universities over concerns they could take sensitive technologies back to China’s military.

“The United States should quickly move to deny export licenses to any entity if the end user is likely to be a P.R.C. actor affiliated with the People’s Liberation Army,” Representative Mike Gallagher, a Republican from Wisconsin, said in a statement.

A senior White House official, speaking on the condition of anonymity, said that the default U.S. policy was to share technology with Saudi Arabia, a critical ally in the gulf, but that there were national security concerns and risks with A.I.

The Commerce Department declined to comment. In a statement, China’s Ministry of Foreign Affairs said, “We hope that relevant countries will work with China to resist coercion, jointly safeguard a fair and open international economic and trade order, and safeguard their own long-term interests.”

A KAUST spokeswoman said, “We will strictly comply with all U.S. export license terms and conditions for the full life cycle of Shaheen 3.”

Mr. Schmidhuber said the Saudi government was ultimately aligned with the United States. Just as U.S. technology helped create Saudi Arabia’s oil industry, it will play a critical role in A.I. development.

“Nobody wants to jeopardize that,” he said.

The Gold Rush

Aladin Ben, a German Tunisian A.I. entrepreneur, was in Bali last year when he received an email from a Saudi agency working on A.I. issues. The agency knew his software start-up, Memorality, which designs tools to make it easier for businesses to incorporate A.I., and wanted to work together.

Since then, Mr. Ben, 31, has traveled to Saudi Arabia five times. He is now negotiating with the kingdom on an investment and other partnerships. But his company may need to incorporate in Saudi Arabia to get the full benefit of the government’s offer, which includes buying hundreds of annual subscriptions to his software in a contract worth roughly $800,000 a month.

“If you want a serious deal, you need to be here,” Mr. Ben said in an interview in Riyadh.

Saudi Arabia was once viewed as a source of few-strings-attached cash. Now it has added conditions to its deals, requiring many companies to establish roots in the kingdom to partake in the financial windfall.

That was evident at GAIA, an A.I. start-up accelerator, for which Saudi officials announced $1 billion in funding last month.

Each start-up in the program receives a grant worth about $40,000 in exchange for spending at least three months in Riyadh, along with a potential $100,000 investment. Entrepreneurs are required to register their company in the kingdom and spend 50 percent of their investment in Saudi Arabia. They also receive access to computing power purchased from Amazon and Google free of charge.

About 50 start-ups — including from Taiwan, South Korea, Sweden, Poland and the United States — have gone through GAIA’s program since it started last year.

“We want to attract talent, and we want them to stay,” said Mohammed Almazyad, a program manager for GAIA. “We used to rely heavily on oil, and now we want to diversify.”

One of the biggest enticements for A.I. start-ups is the chance to make the deep-pocketed Saudi government a customer. In one recent meeting, Abdullah Alswaha, a senior minister for communications and information technology, asked GAIA’s start-ups to suggest what they could provide for the Saudi government, including for megacity projects like Neom . Afterward, many of the companies received messages introducing them to state-owned businesses, Mr. Almazyad said.

“I would say this process at the first stages is not organic,” he said. “You don’t find this in Silicon Valley. Eventually the process will be organic.”

Deciding to set up in Riyadh comes with challenges. There’s the heat, reaching more than 110 degrees in the summer, as well as the adjustments of moving to a deeply religious Muslim kingdom. While Saudi Arabia has loosened some restrictions in recent years, freedom of speech remains limited and L.G.B.T.Q. people can face criminal penalties.

Mr. Almazyad, who hopes to eventually study in the United States, said cultural differences could make it hard to recruit international A.I. talent. But he cautioned against underestimating Saudi Arabia’s resolve.

“This is just the beginning,” he said.

Adam Satariano is a technology correspondent based in Europe, where his work focuses on digital policy and the intersection of technology and world affairs. More about Adam Satariano

Paul Mozur is the global technology correspondent for The Times, based in Taipei. Previously he wrote about technology and politics in Asia from Hong Kong, Shanghai and Seoul. More about Paul Mozur

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It is estimated that over $800 billion is spent a year in outdoor recreation in the United States, with birdwatching having an economic benefit of $41 billion dollars. Roughly $17.3 billion is ...
Sports Tourism: Worldwide Phenomenon
Sports Tourism is a multi-billion dollar business, one of the fastest growing areas of the $4.5 trillion global travel and tourism industry. It has become a vast international business attracting media coverage, investment, political interest, traveling participants and spectators.
How religious pilgrimages support a multi-billion dollar industry
Saudi Arabia has just approved a development plan costing $16.5 billion to improve transport facilities -- including a new rail line dubbed "Mecca Metro" -- for the annual 2.5 million pilgrims ...
Medical tourism: An emerging global healthcare industry
Medical tourism is a multi-billion dollar industry today and continues to grow. There is a current competition to see what countries will capitalize on this growing global industry. The phenomenon of the industry is the amount of resources countries around the world are putting into attracting the medical tourist by offering high quality, low ...
Public relations worldwide
The global public relations (PR) industry is a multi-billion-dollar business. In 2023, the PR market size worldwide will surpass an estimated 107 billion U.S. dollars, with forecasts adopting a ...
Space Tourism to Become a Multi-Billion Dollar Industry by 2030
In a report, UBS predicts the space industry as a whole would be worth $800 billion by 2030 and one trillion dollars in 2040. UBS forecasts space tourism to become a $3 billion market, and flying passengers from point-to-point on Earth, or commercial suborbital flights, to represent $23 billion in business opportunities.
Professional Sports
Travel, Tourism & Hospitality ... The professional sports industry is a multi-billion dollar business. Every weekend, fans flock in their thousands to watch their favorite team play, whether it be ...
We have liftoff: Space Tourism and the Space Economy
The U.S. Space tourism market is expected to expand at a compound annual growth rate (CAGR) of 37.1% from 2022 to 2030, meaning the space tourism market is predicted to be a multi-billion-dollar market in the coming decade. The future of Space Tourism
38 Billion-Dollar Business Ideas You Can Start Today [2024]
11. Start a mobile app development business ($79.2K/month) 1. Start a men's underwear brand ($477K/month) Underwear is essential to any person's wardrobe, and the men's underwear industry has grown quite large. Many companies, such as Calvin Klein, Ralph Lauren, and Hugo Boss, specialize in men's underwear.
'To the Future': Saudi Arabia Spends Big to Become an A.I. Superpower
Saudi Arabia created a $100 billion fund this year to invest in A.I. and other technology. It is in talks with Andreessen Horowitz, the Silicon Valley venture capital firm, and other investors to ...
Turkey in talks with ExxonMobil over multibillion-dollar LNG ...
Turkey is in talks with US energy giant ExxonMobil over a multibillion-dollar deal to buy liquefied natural gas, the Financial Times reported on Sunday. The country is seeking to build a "new supply portfolio" that will make it less reliant on any single partner, Turkey's Energy Minister Alparslan Bayraktar told the FT in an interview.
Honda and Canada Near Multibillion-Dollar Pact on EV Factory (1)
The deal, expected to be announced within a week, involves a multibillion-dollar commitment by Honda for new facilities to process cathode active materials, build batteries, and assemble battery-powered vehicles — making southern Ontario a key hub of company's EV manufacturing plans in North America.
Cleanlab Announces Billion-Dollar Breakthrough in Detecting
Based on groundbreaking research, Cleanlab's Trustworthy Language Model solves a multi-billion-dollar problem by bringing LLM hallucinations under...
Turkey in talks with ExxonMobil over multibillion-dollar LNG deal, FT
Turkey is in talks with US energy giant ExxonMobil over a multibillion-dollar deal to buy liquefied natural gas, in an effort to curb its dependence on Russian energy, the Financial Times reported ...
Focus: As shale oil output slows, one deepwater port struggles for
As U.S. shale oil boomed last decade, an oil pipeline company pitched an ambitious multi-billion-dollar export port off the Texas coast to ship domestic crude to buyers in Europe and Asia.
SunRail reveals costs for Sunshine Corridor expansion in Orlando
The expansion from the airport to the convention center would have a capital cost of $1.75 billion to $2.4 billion, with $23.2 million in annual operating costs.