During a tour, the consumer can get involved in the activities that he or she is interested in, such as diving, skiing, or mountain climbing. The tour may also be arranged in a group with similar age and interests. This is a good way to develop new friendships and socialize. Besides, adventure tours usually include a certain level of fitness. The average duration of a tour is one day. These tours are a good way to see a city while being in a group.
As the tours and travel industry is worth over $150 billion, venture capital is pouring in. It’s not surprising that investors are betting on the future of this industry. If a new startup could capture even one percent of that number, it would become a unicorn. In addition to increasing sales, online distribution platforms have made their business model easier to adopt. A business can also use the power of online marketing to reach a larger audience.
The biggest downside of online travel agencies is that they don’t have all the information that consumers need to make a decision. Often, these agencies partner with outside tour booking platforms. Because of this, they don’t have full control of all costs. However, this has changed after Booking Holdings bought Fareharbor in February 2017. The company has now processed over $1 billion in transactions and is on track to hit the billion-dollar mark this year.