Issues and Influences Affecting the Global Tourism and Hospitality Industry

Abstract

Tourism and hospitality industry have become a pillar of economic growth in modern world and provides an enormous opportunity to achieve the tremendous economic, social, cultural, environmental and heritage value. Major factors that contribute to the variations in the industry can be identified as varying fashions, people’s expectations, technological development, business requirements etc. Being a sensitive industry, global as well as governmental issues and influences alike terrorist attacks, political instability, health pandemics, natural disasters, visa restrictions and tourism policies have affected to the growth of tourism and hospitality industry. Future advancement and success of the industry also depends on recognizing trends such as paid holiday entitlement, disposable income which will drive future lifestyle habits and consumer expectations. Influences from the external factors like cooperate social responsibility, ethical tourism and sustainability also classify as the key factors for the development of the industry. The purpose of the research on “Issues and influences affecting the global tourism and hospitality Industry” is to investigate the current issues and influences in the industry in a systematic way by analyzing it and provide recommendation for improve it for the future expansion. The data of the study is derived from the literature review, document analysis and observation. Practical implication of the study is to explore the issues and influences affecting in the industry within the key titles criterion of the tourism and hospitality industry and ultimately focusing on sustainability