1. Trade Opportunities:
* Cabot, like many other maritime explorers of his time, was influenced by the concept of mercantile expansionism; this involved the search for new markets and profitable resources.
* He aimed to find a viable Northwest Passage to East Asia (China, Japan, India), as the traditional Eastern trade routes dominated by the Venetian-Ottoman axis were expensive and under a monopoly-type control at the time. If successful, he could secure new sources of commodities like silk, spices, perfumes, jewelry, etc, and bring substantial trade advantages to England.
2. Recognition and Rewards:
* Cabot desired personal wealth and glory. Navigators and captains who successfully conducted profitable discoveries could anticipate substantial financial awards, and in some cases, titles, social prestige, and lands granted by their sponsors (in this case, King Henry VII of England).