Thanks to this improvement, its benefit for a wide range of different sectors like the hospitality Industry that means that people can travel all around the world. This phenomenon allows to this 850 millions of tourists to travel each year around the world and international migrations is concerned by 5 millions people.
Growing Emerging Markets Developing countries will see the highest economic growth as they come closer to the standards of living of the developed world. If you want your business to grow rapidly, consider selling into one of these emerging markets. Language, financial stability, economic system and local cultural factors can influence which markets you should favor. Demographic
It provides numerous facilities in order to serve all customer needs and satisfaction. These three sectors including event management, food and beverage and travel and tourism are the major parts that bring convenience to customer. In addition, for many years, hospitality industry has played a big role in many countries and world economics in order to gain income and provide job to unemployed. In the near future, this industry will continually grow up and become the main industry that will bring positive aspects to the
The field of hospitality has been exposed to students both on the secondary and tertiary level to get them ready for the industry. The industry is said to be mostly time consuming and of a high customer service and interaction base being the reason why persons tend to shy away from it. It is also said that it can be low paying and menial and doesn?t cater for a persons? quality of life which is false. ?The industry needs individuals who are willing and ready to expand and change with it?.
Cheetnesh, he explained us about various opportunities in the world market. When we asked about the upcoming opportunities at the global platform he told that areas like: Food and non-alcoholic beverages, Clothing and footwear, properly (realty), Health , education, Transport, communications, Alcoholic beverages, Recreation, restaurants and hotels Have great scope in the market (at a global level). Also, when I asked about the feasible place in the world for doing business he explained that it depends to the sector in which one wish to do business in. Well, another good learning was that to know about the career opportunities at the global platform. For example, Europe is facing some job issues for international people as well as domestic people, China, India has good opportunities, Australia, Canada has good market for mining, US, Japan for technology, France for Aerospace.
Hotel industry has been the fastest growing industry in the world due to growing importance of tourism & travel. Due to this reason, hotel industry provides opportunities for employment for the youth of today. Hotel industry can also proves to be one of the components
For developing countries, the tourism industry has an enormous contribution to the GDP, creation of jobs, exports, and creating new ventures. The key elements, however which are drivers to the growth of the industry are: Technology: There is a significant growth in the mode of reservations being done with the most significant change coming through the mode of mobility. Marketing and sales need to be aligned to be mobile friendly and provide a seamless user experience across all mediums. Other major technologies which are expected to play a major role in the near future are upcoming technologies like Internet of Things (IoT) and Wearables. Tailored packages: Travelers are constantly looking for customized or personalized packages, or offer beyond the traditional offerings.
The gaps between the leaders and the rest of the world are closing very gradually. But digital technologies can domestic complexity and create slenderer models for going global. This is a moment for companies to rethink their organizational erections, products, assets, and competitors. Digital globalization makes policy choices even more multifaceted. Value chains are fluctuating, new pivots are evolving, and economicactivity is being transmuted.
We are living in a rapidly developing high-tech world, where technology is a yardstick for a country’s social or economic development. Countries that have invested sufficiently in promoting emerging technologies over the past decade are the ones that have developed successfully. If we may look at the US, western countries, even in Asia like China, Malaysia, Japan and India are booming in the technology industry. In comparison, Pakistan lags development due to being underdeveloped in the technology sector because of political and democratic interests. We have a polarized democracy, inefficient governance system, overall poor human development conditions, less educational opportunities and state does not prioritize to scale up new technologies
The age of globalization has brought about changes in most industries and activities around the world. We are now living in a borderless world where the impact of physical borders has been reduced and where interactions among different nations have become more open and less restrictive. It is a fact that the hospitality industry has not been spared by the impact of globalization either. In fact, for the most part, the hospitality industry has benefited much from this age of globalization. The restrictions which physical borders and distance has posed in the past are no longer a significant barrier because the internet has made the globe smaller by making it possible to virtually access many tourist sites and consider their prospects.