Global Hospitality Industry Analysis

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ASSESSMENT B Section 1 : Discuss the significance of the hospitality industry to the regional, national and global economies Describe with clear reference to a range of sources, how the hospitality industry may be classified into different sub sectors Section 2 : INTRODUCTION: According to Saskia and Réau (2009) the origin of the tourism appeared between the middle of the XVII the end of the XIX century, where wealthy British were travelling in European countries from the northern countries until the Greek island and return to their countries lining the Mediterrannee. The globalization is defined by trading in the all world in every sector models such as; cultural, economic and political. Those models were developed by Northen countries since 1980 where international exchanges of people started. All countries of the world are now interdependent. 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.…show more content…
Moreover, the hospitality industry is not concerned by only one sector of activity of a business but is concerned by, nearly, all the businesses which are focused on customer expectations and answering the need of the customer. Whereas, this industry has a huge target audience thanks to the wideness the hospitality industry. However, it could be suffering of a lower purchasing power of customer. That means that kind of hospitality is including costly hotels, so, most of the time the customers have to spare money to access to this universe. And, if the purchase power slump the middle-class customers could not spend their money in this industry only wealthiest could do…show more content…
This industry trust entirely on customer happiness. Different businesses “Simple hotels” represent just one sector of the hospitality industry however, hospitality cater several types of transportations like cruise ship, trains even airlines. For instance, airlines provide meal during the in-flight so, the questions you will ask in hospitality business are “how important are meals on board? Are they always necessary? Are they? here to occupy the passenger? How important do customers think in-flight food is? What constitute a good in-flight meal? Are the costs really included? What are the differences between budget and luxury airlines? E.g. Why do Ryanair charge but Emirates include? All these considerations are based on the customer expectations related to confort/ price or price/comfort (depending of the customer wealthyness).It is the formal part the tangible one which is really important nevertheless, all hospitality businesses have to work on the informal and intangible side that is making the different between similar businesses. Southwest Airlines has understood that concept, thanks to David Holmes in practice. Enjoy watching

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