Embarking on a side hustle is an excellent way for International Economic Development Consultants to diversify their income streams and contribute to global progress. In this blog post, we’ll explore 10 compelling side hustles that align seamlessly with the skills and expertise of economic development professionals. Each opportunity presents a unique avenue for financial growth, professional fulfillment, and positive impact on the international stage.
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Travel Website for Sale | Potential Profit: 5000$/month
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Description: Fully Automated Travel Website – Hotels, Flights, Cars – $200/day Potential
Huge Profit through travel affiliate programs (Flight, Hotel, & Rental Car). Start an online business with this gorgeous, professionally designed, affiliate travel website. It is a powerful travel comparison website that allows users to find the best prices for hotels, flights, and car rentals. This type of website is currently very popular as more people try to save money when booking their next vacation.
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How to Start: You can build a website and online business from scratch or go with a readymade solution provided by Sitefy.
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Investment: 99$ to start the website.
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Skillset & Learning: No skillset required. Basic skills are required that can be learned in a couple of hours.
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Success Rate: Moderate to high, reliant on the monthly traffic to the website.
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Pros & Cons: It takes very little time to start this online business and ROI is the highest among all the businesses mentioned.
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Market Size: Globally, travel and tourism directly contributed approximately 2.9 trillion U.S. dollars to GDP
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Whom to Hire: You can hire developers, designers and marketing experts from different freelancing platforms or you can go with a readymade all-in-one solution.
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Where to Hire: Freelance platforms, specialized tech companies.
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Biggest Source of Marketing: Organic Traffic across the globe.
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- Impact Assessment Specialist
- Description: As an Impact Assessment Specialist, you evaluate the effectiveness of development projects, ensuring they meet socio-economic goals.
- Earnings: $50 – $100 per hour.
- How to Start: Leverage your existing network, and offer your services on freelance platforms like Upwork or Fiverr.
- Investment: Minimal investment required for marketing materials and a professional website.
- Skillset: Strong analytical skills and expertise in impact assessment methodologies. Learn through online courses on platforms like Coursera or Udemy.
- Success Rate: High, especially with a strong track record.
- Pros and Cons: Pros include a flexible schedule and high demand. Cons may include occasional project fluctuations.
- Market Size: Growing, as businesses increasingly prioritize social responsibility.
- Whom to Hire: Collaborate with freelance researchers or data analysts for larger projects.
- Where to Hire: Platforms like Freelancer or through professional networks.
- Grant Writing Consultant
- Description: Assist organizations in securing funding by crafting compelling grant proposals.
- Earnings: $1,000 – $5,000 per project.
- How to Start: Develop a portfolio showcasing successful grant applications and offer your services on platforms like GrantWriterTeam or local business forums.
- Investment: Minimal – invest in online courses to enhance your grant writing skills.
- Skillset: Exceptional writing skills, understanding of funding requirements. Learn through courses or workshops offered by organizations like GrantSpace.
- Success Rate: High, particularly with a proven track record.
- Pros and Cons: Pros include the potential for high earnings. Cons may involve intense competition.
- Market Size: Significant, as non-profits and businesses seek funding.
- Whom to Hire: Collaborate with graphic designers for visually appealing proposals.
- Where to Hire: Freelance platforms or specialized forums.
- Policy Researcher for Sustainable Development
- Description: Conduct in-depth research on policies related to sustainable development goals.
- Earnings: $40 – $80 per hour.
- How to Start: Offer your services on platforms like ResearchGate or approach NGOs directly.
- Investment: Minimal, primarily for marketing purposes.
- Skillset: Strong research skills and a deep understanding of sustainable development policies. Enhance your skills through online courses or by obtaining a relevant degree.
- Success Rate: Moderate to high, depending on the quality of research produced.
- Pros and Cons: Pros include intellectual fulfillment. Cons may involve occasional project-based income.
- Market Size: Expanding, driven by increased awareness of sustainable development.
- Whom to Hire: Collaborate with subject matter experts for niche projects.
- Where to Hire: Utilize platforms like LinkedIn or academic networks.
- Global Market Entry Strategist
- Description: Guide businesses entering international markets by providing strategic insights.
- Earnings: $80 – $150 per hour.
- How to Start: Leverage your network and offer your services through platforms like Globalization Partners or consultancy firms.
- Investment: Minimal investment for marketing and creating a professional website.
- Skillset: Strong market research and analysis skills. Enhance your knowledge through market entry strategy courses or consulting certifications.
- Success Rate: High, especially with experience in diverse markets.
- Pros and Cons: Pros include high earning potential. Cons may involve occasional market uncertainties.
- Market Size: Significant, as businesses increasingly look to expand globally.
- Whom to Hire: Collaborate with market analysts or cultural experts for comprehensive insights.
- Where to Hire: Utilize platforms like Indeed or industry-specific forums.
- International Trade Compliance Specialist
- Description: Help businesses navigate complex international trade regulations and compliance.
- Earnings: $60 – $120 per hour.
- How to Start: Offer your services on platforms like ComplianceOnline or through legal consulting networks.
- Investment: Minimal, primarily for marketing materials and legal resources.
- Skillset: In-depth knowledge of international trade laws and regulations. Enhance your skills through legal courses or certifications.
- Success Rate: High, especially with a legal background.
- Pros and Cons: Pros include specialized expertise. Cons may involve continuous legal updates.
- Market Size: Growing, as global trade regulations evolve.
- Whom to Hire: Collaborate with legal researchers or compliance experts for detailed projects.
- Where to Hire: Legal freelance platforms or through legal networks.
- Cross-Cultural Communication Trainer
- Description: Train professionals on effective communication in diverse global environments.
- Earnings: $50 – $100 per hour.
- How to Start: Offer workshops through platforms like Teachable or approach multinational corporations directly.
- Investment: Minimal investment for marketing materials and creating an online training platform.
- Skillset: Strong communication skills and cultural awareness. Enhance your skills through communication training courses or cultural sensitivity workshops.
- Success Rate: High, especially with experience in cross-cultural environments.
- Pros and Cons: Pros include the potential for global reach. Cons may involve occasional travel requirements.
- Market Size: Significant, as businesses prioritize effective global communication.
- Whom to Hire: Collaborate with language experts or cross-cultural psychologists for specialized training.
- Where to Hire: Utilize platforms like LinkedIn or specialized training forums.
- Renewable Energy Project Consultant
- Description: Advise on the implementation of sustainable energy projects for economic development.
- Earnings: $70,000 – $150,000 per project.
- How to Start: Leverage your network and offer your services through platforms like EnergySage or renewable energy organizations.
- Investment: Moderate investment for marketing and project feasibility studies.
- Skillset: Strong understanding of renewable energy technologies and project management. Enhance your skills through relevant courses or certifications.
- Success Rate: High, especially with a proven track record in renewable energy projects.
- Pros and Cons: Pros include contributing to sustainable development. Cons may involve lengthy project timelines.
- Market Size: Growing, driven by increased focus on clean energy solutions.
- Whom to Hire: Collaborate with engineers or environmental scientists for project execution.
- Where to Hire: Renewable energy job boards or professional networks.
- Microfinance Advisor
- Description: Provide guidance on microfinance initiatives for small businesses and entrepreneurs in developing economies.
- Earnings: $60 – $120 per hour.
- How to Start: Offer your services through microfinance institutions or international development organizations.
- Investment: Minimal investment for marketing and networking events.
- Skillset: Understanding of microfinance principles and experience in financial advisory roles. Enhance your skills through microfinance courses or workshops.
- Success Rate: High, especially with a background in finance or economics.
- Pros and Cons: Pros include making a positive impact on small businesses. Cons may involve occasional challenges in project funding.
- Market Size: Significant, as microfinance gains prominence in economic development.
- Whom to Hire: Collaborate with financial analysts or business consultants for comprehensive support.
- Where to Hire: Utilize microfinance job boards or financial networks.
- Technology Transfer Consultant
- Description: Facilitate the transfer of technology and innovation between countries for economic development.
- Earnings: $80,000 – $120,000 per project.
- How to Start: Leverage your network and offer your services through platforms like World Intellectual Property Organization (WIPO) or technology transfer offices.
- Investment: Moderate investment for marketing and legal support.
- Skillset: Understanding of intellectual property laws and technology transfer processes. Enhance your skills through technology transfer courses or legal certifications.
- Success Rate: Moderate to high, depending on the complexity of projects.
- Pros and Cons: Pros include contributing to technological advancements. Cons may involve negotiation challenges.
- Market Size: Growing, as technology becomes a key driver of economic development.
- Whom to Hire: Collaborate with legal experts or technology specialists for comprehensive support.
- Where to Hire: Utilize technology transfer job boards or industry-specific forums.
- Economic Diplomacy Consultant
- Description: Assist governments and businesses in building diplomatic and trade relationships for economic growth.
- Earnings: $80 – $150 per hour.
- How to Start: Offer your services through diplomatic networks, or approach government agencies and trade organizations.
- Investment: Moderate investment for marketing and attending diplomatic events.
- Skillset: Strong diplomatic and negotiation skills. Enhance your skills through diplomatic training programs or international relations courses.
- Success Rate: High, especially with experience in international relations.
- Pros and Cons: Pros include fostering global economic partnerships. Cons may involve navigating complex diplomatic landscapes.
- Market Size: Significant, as countries seek to strengthen economic ties.
- Whom to Hire: Collaborate with language experts or political analysts for comprehensive support.
- Where to Hire: Utilize diplomatic job boards or international relations networks.
Embarking on a side hustle as an International Economic Development Consultant opens up a world of opportunities for financial growth and professional fulfillment. Whether you choose to delve into impact assessment, grant writing, or renewable energy projects, each side hustle has the potential to contribute significantly to global progress. As you embark on this journey, remember to leverage your existing skills, continuously enhance your expertise, and seize the chance to make a positive impact on the world while bolstering your own economic development.
