Virtual Tour Business: India’s Untapped Startup Goldmine

There was a time when visiting a place meant physically going there. But in today’s tech-driven world, we can explore countless destinations from the comfort of our homes—places we’ve always dreamed of visiting. Yet, surprisingly, many in India are still unaware of the immense potential of the virtual tour business.

Imagine a business that transcends the boundaries of time, place, and resources. One where people can virtually visit schools, colleges, hotels, restaurants, real estate properties, historical sites, or even temples without stepping out. This isn’t just an idea—it’s a revolutionary business model that’s rapidly gaining traction worldwide.

In this article, we’ll explore how you can start a virtual tour business, the investment required, and the profits you could generate.

Market Potential

According to a 2023 Siesta report, the global virtual tour market was valued at $340 million in 2022 and is projected to reach $941 million by 2030, growing at an annual rate of 17%.

The National Association of Realtors notes that listings with interactive tools like virtual tours see 87% higher viewer engagement. Meanwhile, Fortune Business Insights reveals that over 50% of consumers now prefer a virtual experience of a property or location before making a purchase or visiting.

Opportunities in India

Some might think this business is only viable abroad, but the data tells a different story. In 2023, U.S.-based Matterport completed over 1 million projects, generating an annual market cap exceeding ₹12,000 crore. In India, however, the virtual tour industry is still in its infancy, presenting a massive opportunity for early adopters.

Skift Research (2024) reports that 15 million Indian tourists travel abroad annually, and by 2028, 30.5 million foreign tourists are expected to visit India. According to IBEF, India’s travel market is set to reach ₹1 lakh crore by 2027.

Where Can Virtual Tours Be Applied?

Before diving into this business, it’s crucial to understand its applications:

• Real Estate: Virtual tours are a game-changer here. Buyers want to see a property’s location, layout, and features without multiple visits. Virtual reality solves this by offering immersive tours, saving time and effort.
• Hotels and Resorts: When booking a hotel or resort, customers want to know about cleanliness, nearby attractions, and the overall vibe. Virtual tours provide a realistic preview, making them a powerful tool for the hospitality sector.
• Schools and Colleges: Parents often worry about the facilities and environment of schools or colleges before enrolling their kids. Virtual tours can showcase classrooms, labs, and other amenities, helping parents make informed decisions.
• Other Sectors: Malls, wedding venues, temples, and historical sites can all benefit from virtual tours, creating immersive experiences for visitors.

How to Start a Virtual Tour Business

Here’s what you’ll need to get started, along with estimated costs:

Creating a Virtual Tour: 3 Simple Steps

1. Shooting: Use a 360° camera to capture photos and videos.
2. Editing: Add 3D mapping, tags, and viewpoints for an interactive experience.
3. Hosting: Upload the tour to a website or VR platform.

Business Model: Clients and Revenue

The revenue model is the backbone of any business. Without a clear plan to generate income, your investment could go to waste. Here’s a breakdown of potential clients and earnings:

With just 10 clients per month, you could earn ₹5 lakh to ₹15 lakh monthly, translating to an annual income of ₹60 lakh to ₹1.5 crore.

Final Thoughts

The virtual tour business is a golden opportunity waiting to be seized in India. What are your thoughts on this idea? Share your views in the comments below!