When economies go sour, the hospitality industry may Factors affecting the hospitality and tourism industry because of a drop in discretionary spending. However, the tourism landscape globally has improved a lot in the 21st century and is expected to evolve further with evolving technology and political relationships between the various nations.
Economics When someone speaks of the uncontrollable factors in the hospitality industry, they are referring to the macro environment. Still, growing competition has made countries and hospitality brands invest more in marketing.
Even if the government takes stringent action against the terrorists, it can lead to a state of chaos and disruption in the country which can bring tourist activity lower. Blogs, websites and social media heavily publicize, each tourists destination and people can gather all the information they need to plan their tour.
A type of accommodation required by tourists depends on their lives-styles, standard of living, capacity to spend money, nature of services expected, etc. In this way, geopolitical factors can have a major impact on the tourism industry worldwide. It has made booking, marketing of tourists services easier and also helped people and businesses manage the costs of travel better.
For instance, in India places like Lonavala, Mahabaleshwar near Mumbai, Kullu and Manali, Shillong, Kashmir, so on are well-known for their cool and pleasant climate.
Favorable economic situation leads to favorable demand for tourism services globally. Particularly, it can lead to a decrease in the arrival of tourists from Islamic countries. Legal Changes Changes in the law can also affect companies within the hospitality industry and cannot be controlled.
Classification of accommodation centers i. If the influx of foreign tourists in the Asian nations has increased, then its credit to an extent also goes to the internet. Stable geopolitical environment attracts tourists and leads to higher employment and income and vice versa. For many people travelling abroad would not have been possible unless for these cheaper lodging arrangements.
Knowing what these factors are is important for those working in this capacity because it provides them with an opportunity for contingency planning.
Apart from it, people also go on cultural tours to understand the cultures of other nations. This overall helps to boost the local economy to some extend.
Globally, the demographic composition of the population has changed and the millenials are more enthusiastic about tourism and travel than the baby boomers. Generally, tourism mostly prospers in those areas where good lodging and food facilities are available at reasonable prices.
If the relationships between two nations are tense, it can also result in negative effect on demand for tourism. Competition Competition is another factor that those managing or owning businesses in the hospitality field have little to no control over.
Travelling to distant destinations is not a dream anymore but people are taking several vacations every year. It resulted in higher surveillance throughout US and such an environment makes tourists feel insecure.
Travelling is more secure and people can remain connected with their family and friends through the internet all the time. Growth of tourism at a particular place is also influenced crucial factors like; how well the site is maintained for touring activities like skiing, roping, paragliding, rowing, fishing, surfing, safari adventure, etc.
Technology has reduced the costs of marketing and helped airlines brands reduce prices of travel. Millions of people every year go on religious tours like the Muslims going to Mecca or the Christians to their holy cities.
During the recession, the demand for tourism had been affected at a global scale. Some nations have invested in heavy marketing of their tourist destinations to churn demand.
Socio-economic factors Four important socio-economic factors that influence the development of tourism: Moreover, the role of economic factors in churning demand in the tourism industry also gets clear from the fact that in the Asian countries where economic activity has grown faster, the demand has also grown.
They can only adapt to the changes as necessary and fight the other airlines for the customers that continue to travel by plane.
A beautifully lit Western metro-city with attractive trains and cars and huge malls and entertainment centres tell the story of technological growth. Apart from that it has also created a very large number of jobs globally.Jul 23, · internal factors are ones which are under the industry/enterprise's control.
in the tourism and hospo industries.-service preferences- Factors Affecting Hospitality External factors: Social, Technology, Cultural, Demographic, Business, Industrial Relations.
Find out the factors that affecting travel and tourism. Explain in detail. Introduction. Obviously, the travel and tourism play an important role in the hospitality industry. Some parts of the industry, such like hotels are derive almost all of their sales from travelers.
Factors That Affect Demand in Travel and Tourism (Hospitality) Industry Source: Pixabay The global Travel and tourism industry is one of the largest contributors to the world GDP.
Five Main Factors Influencing the Growth of Tourism With Diagram Now let's discuss above factors affecting the growth of tourism. 1. Environmental factors It has added a new feather to the tourism industry.
Many people around the world visit to other places for medical treatment.
Many countries have built-up advanced hospital with high. Economic Factors Affecting Hospitality Industry Discuss the keymacro-economic factors affecting demand for your industry sector The hospitality industry makes a major contribution to the UK economy. It is a fact that the hospitality business employs a large percentage of people.