Traveling has become a very popular activity among the Gen Z and Millennial generations. With some traveling restrictions being let up, more and more people are ready to see the world again. For many, traveling doesn’t just have to be a hobby or reserved for vacation— it can actually make you money.
You’re probably wondering how this is possible because it takes a lot of money to even be able to travel in the first place. These days, it’s possible to be able to monetize off of almost anything, and traveling is no exception. Here are three ways you can make money from your love of traveling.
#1: Start a Travel Blog
This is a popular way that travelers attempt to monetize their hobby. You’re probably wondering how a simple blog makes money, and how does it make enough money to count as passive income. There are actually several ways a blog can generate revenue:
- Affiliate marketing: where you promote products for a company in exchange for a commission. This is probably one of the most common ways blogs make money.
- Advertising: when companies run ads on your blog. You usually get paid if someone clicks on the ad from your blog. This is another popular way bloggers get paid.
- Online courses: Bloggers, especially travel bloggers, can host online classes to teach things like a foreign language, or even just the history of a particular country you like to travel to often. You also have the option to write and sell a How-To guide in the form of an e-book from your blog.
There are many other ways you can monetize your blog, you just have to find your niche and find which method(s) works best for you.
Buy Unique Products in Bulk and Sell Online
As a traveler, you know that there are some things available in some countries that aren’t available in your home country. This can be due to legal restrictions, or simply because there doesn’t seem to be a market for it in your country. If you think some foreign items (such as food and drinks) have the potential to sell (legally) where you live, you have the option of buying that product in bulk and selling it online.
This and other e-commerce techniques are great ways to make money. You can even store the products in your home instead of renting a storage space or other building. Just be aware of all of the rules and regulations associated with buying in bulk and selling on the internet (and in-person) as they apply to your location.
Rent Your Property to Other Travelers
Rental services such as Airbnb and Vrbo allow you to rent your home to travelers while you’re traveling. Airbnb even allows you to rent a room or a small, unique space to travelers. While you’re away traveling the world, you can have another traveler from a different part of the world living in your space, exploring your hometown. It’s not hard to make $2,000 per month renting your space to others. Renting out your property also gives you an idea of what it would be like to manage a residential rental property.
Residential rental properties are good investments, as they have the potential to bring in a lot of money. Once you’re ready, you can even invest in properties in different locations to attract a wider range of potential tenants. You even have the option of investing in commercial properties (businesses), which can make even more money than residential properties. It is more expensive to invest in these types of properties, but there are residential and commercial real estate loan companies to help you get started.
There are many other ways you can earn money by traveling. You can become a travel vlogger (make YouTube videos about your destinations), you can find a job that requires you to travel, or you can even teach in other countries. You can find something you’re good at in addition to your love for traveling in order to make money and reach success.