Global Tourism Industry Analysis

Tourism is viewed as an environmentally friendly way to revitalize distressed rural communities and economies (Sekhar, 2003). Tourism has emerged as the largest global industry of the 20th century and is projected to grow even faster in the 21st century. Recently, academicians have paid attention to the changing patterns of tourism as an embodiment of broader societal changes and the shift towards post-modernism. It is said that leisure related activities have become increasingly commoditized, reflecting a global “culture of consumption” (Gupta, 2011). Tourism is one of the world’s most rapidly growing industries and it has emerged as a fast growing sector in terms of employment and income generation.
World Travel and Tourism Council (WTTC)

These factors are likely to compel managers to find new ways to strategically position their operations across relevant global markets, possibly through the adoption of multiple-virtual, and physical, integrated value-adding strategies and approaches (Anwar and John 200 and Glenn F. Rose, 2005). Temporal variations in natural phenomena also affect destinations (or receiving areas). The receiving area is the location of the suppliers of tourism activity. Climate, for example, can determine the types of tourist attractions within a destination. On the other hand, the cultural, religious, ethnic and social activities in a destination influence the type and number of visitors Christine Lee, Sue Bergin-Seers, Graeme Galloway,Barry O'Mahony and Adela McMurray (2008) . The natural and cultural heritage is often vulnerable to the impacts of modern development, consumer lifestyles and globalization. Koblenzer Str January 2005. There are five sectors in the overall product, which are Hospitality sector, Attractions and events sector, Transportation sector, Travel organizers’ and intermediaries’ sector, and Destination organization sector. Hospitality is an expression of welcome by local residents to tourists arriving in their community (i.e. hotels, guest houses, apartments, and condominiums). The attraction and event sector can be defined as theme parks, museums and galleries, national parks, heritage sites and centers, and festival and events. The transportation sector includes airlines, shipping lines, railways, bus operators, and car rental