Cyprus Tourism: PEST Analysis

The PEST analysis helps to explain the critical factors in the organization's external environment. The factors include political, economic, social and technological. For Myer, these forces combine with the internal factors, and other external factors like competition. The Australian consumer goods retail market is worth $121 billion (IBISWorld, 2012) but is heavily fragmented. Myer is the third-largest company in the industry behind David Jones and Harvey Norman, but with $3.158 billion in sales holds just 2.6% market share (Myer 2011 Annual Report). This implies that competition is only one of many factors that can contribute to the company's results. This PEST analysis will help to identify the other major factors.

Its spectacular tourist sites, captivating entertainment, and unusual public culture lend a complexity and mystique to the region. Although the growth rate of Greece’s GDP has been negative for years, the government is beginning to take action. Hopefully, it will prove beneficial to the general populace. Since the exquisite beauty of the country is indisputable, and the intrinsic cultural interest of its society and history is unquestionable, perhaps a greater understanding and promulgation of what Greece can offer to tourists would improve its profits in that area. It should never be forgotten how much of an impact this diminutive country has had on shaping world thought and ideas. The Hellenic Republic stands alone as a pinnacle of historic, cultural, and artistic achievement, a literal turning point in the history of the world.

Report includes political, economic, social and technological factors. This analysis is done in order to predict the future impacts of these factors on Arcadia Group. The main points are discussed:

There has been a major decline in the travel and tourism sector in Cyprus. A 2.4% overall decrease in arrivals were recorded last month compared to the same month in 2009 and a decrease of 10.2% was recorded in arrivals from the UK for the year – suggesting that Cyprus is beginning to become a less popular holiday destination for the British; one of Cyprus' main markets.

This report will be providing a detailed analysis of the existing Budget Hotel market, and how to improve the competiveness of the Travelodge UK, the second largest Budget Hotel chain in the United Kingdom, Second Premier Inn. This report will contain the following, a profile of the organisation’s current target market, which will include demographic, psychographic, geographic and behavioural variables. That will then be followed by a well-referenced and well-researched PEST analysis that will highlight the most important and relevant factors that could have an impact on the business. Once the pest analysis has been completed, the report will be concluded by recommended changes to the marketing

The first implication that will impact The business is the European Union, which has been in a deep recession this is because consumer demand has fallen, whilst unemployment rates are increasing across the European union. This has caused great concern to global markets as the possibility that Greece may not be able to pay of their outstanding debts, this could result into the them defaulting the Eurozone, however there is some stability but this situation is very delicate because the European Central Bank and also the International monetary fund, have

The Balkan Peninsula is extremely diverse, and is home to more than 70.5 million people. Examples of pull factors for this region are that Greece is the 9th largest tourist destination in Europe in 2014, causing more people to want to visit, many of the countries in the Balkan peninsula, especially Greece and Turkey, have historical significance such as buildings or artwork, and the warm Mediterranean beaches known for sailing and tourists as well as numerous mountain ranges that attract skiers are definitely pull factors for this region. Some examples of push factors that act against the Balkans are that the economy at its lowest in that area, and unemployment is very high, and most Balkan countries have a low standard of living relative to the majority of Europe. In conclusion, the Balkan peninsula is a very diverse, mountainous region in southeastern Europe with numerous characteristics and push and pull

HSE(health and safety executive): The HSE is national independent watchdog for work which linked to health and safety and illness. They a self-governing regulator and which also act in public attention to reduce work related death and serious harm which cross in the great Britain’s workplace.

The political factor reflects to the degree where government’s role impact son the organisation’s operations in tourism and hospitality industry. The essential political factors including law, protection laws, tax rates and other situation along with political stability might influence the operation in tourism and hospitality industry. From global context, the political situation prevailing in UK can impact on the tourism. Situations are changing as terrorist threats are increasing and this is turning out to be a disadvantage for UK economy to work smoothly.

However, divergent values among parties could result in unstable governments. Such instability has been particularly highlighted by frequent national elections and coalition reconstruction in Israel.

Tourism in expected to grow further over the next few years due to the changes taking place on the demand and supply sides. Based the growth of tourism sector, infrastructure will improve, competition will increase, new products will enter the market and better services will be provided. With all the positive signals, hospitality industry in Greece is getting consolidated and has many more opportunities to grow

Since 2001, NEXT has created the next day delivery service on most home shopping orders. Currently there are more than 2 million customers in the UK and over 70% of NEXT 's home shopping business is now transacted online (nextplc.co.uk, 2011). Additionally, in October 2007, Meadow Hall in Sheffield became one of the first concept stores NEXT had fitted out in the new style that is now commonplace throughout its UK outlets (careers.next.co.uk). These events highlight the firm’s consideration of its customers and ability to diversify the service to satisfy customers’ needs.

The island of Cyprus is the third largest in the Mediterranean with the 2002 population around 705,5000. Its main economic activities include banking, craft exports, merchant shipping, and tourism, which accounts for twenty percent of business (europa.eu.int). For almost thirty years it has been split between Turkish-Cypriots and Greek-Cypriots. The ongoing feud between the two groups and the split of the island in 1974 has lead to much political tension in Europe, especially with the European Union expanding its membership and adding, as of now, only half of the island of Cyprus in May 2004.

The financial statements are very useful to all this group of user. Explain each of them;

Singapore government has always been in favour of the tourism sector. In fact, Singapore Tourism Board (STB) launched a $90million BOOST (building on opportunities to strengthen tourism) for the tourism sector). The initiative help pushed the industry through tough times by assisting MICE (Meetings, Incentives, Conventions, Exhibition) companies to alleviate their business costs (Singapore Tourism Board, 2009).