The global travel and tourism sector generated a staggering $9.9 trillion for the global economy in 2023, accounting for about 9.1% of the total global GDP. However, even with its significant contribution, many destinations and tourism businesses struggle to sustain steady revenue during the off-season tourism period. For example, according to KRG Hospitality, nearly every hotel experiences an off-season where occupancy rates can drop by as much as 30% due to the low number of visitors to the destinations the hotels are located in. This seasonal decline often leads to challenges like reduced cash flow, underutilized resources, and workforce downsizing, putting considerable strain on tourism entities.
In this blog, we'll dive deep into why tourism sees a dip during off-season phases, explore the underlying reasons behind the reduction in visitors’ number, and discuss strategies that destinations and tourism businesses can adopt to stay profitable year-round.
Read full blog here: https://blog.smart-guide.org/en/how-destinations-and-tourism-businesses-can-overcome-off-season-challenges-to-boost-year-round-visits-and-revenue