Creating new revenue strategies
Your revenue growth strategy will be contingent on a number of scenarios and estimates that you model and plan for. Tourism businesses, especially those that rely on international travellers, are in a unique situation because the future of travel is dependent on border openings and complex government negotiations and you will need to consider your costs in different scenarios.
As health regulations and physical distancing requirements change, the impact on revenue will vary. Some tourism sectors will be more negatively impacted by the rules than others, however, new consumer preferences and expectations will play a role in demand and spend too.
Here are some sector-specific considerations when estimating future revenue: