International Aspects Of Tourism Sector And Industrial Analysis Essay

This paper will be dynamically examining the tourism industry during the 2000s. It will begin by using the PESTEL framework to analyse the macro environment and determine which factors drive the competitive forces within the industry. Following this, Porter’s Five Forces model will be used to analyse the actual competitive forces at work within the industry and determine the relative importance of these forces.

Today, the business volume of tourism equals or even surpasses that of oil exports, ‎food products or automobiles. Tourism has become one of the major aspects in ‎international commerce, and represents at the same time one of the main income ‎sources for many developing countries. This growth goes hand in hand with an ‎increasing diversification and competition among destinations.‎

As the tourism industry is closely united with several other industries like hotel and accomodation, aviation, railway, roadways, healthcare, entertainment, etc combined weaknesses of all sectors makes it more

This paper will be dynamically examining the tourism industry during the 2000s. It will begin by using the PESTEL framework to analyse the macro environment and determine which factors drive the competitive forces within the industry. Following this, Porter’s Five Forces model will be used to analyse the actual competitive forces at work within the industry and determine the relative importance of these forces.

The tourism industry contributed $136.3 billion to the Gross Domestic Product of India in 2013 which is around 2% of the GDP and employs almost 8% of the total employment in India. The industry has been growing at a compounded annual growth rate (CAGR) of 9.1% since 2007 and is expected to grow at 7-8% per annum during the period 2013-2023. This growth rate would put India at rank 3 during the next decade. The Industry is expected to contribute $255.4 billion to India’s GDP in 2023.

The first step to a SWOT analysis of hotel industry in India will be identifying its strengths. There are more than 1000 classified hotels with a room availability of around 97,000 rooms which can easily cope with the demand of tourists. Furthermore, there are also a number of international names in the market which meet the needs of international tourists on their visit to India. In addition, there are many tourist attractions and the cost of labor is low in comparison with the rest of the world, thus, providing better margins for hotel owners and higher growth potential in the industry (Mohammad Arabzad an, 2012).

The Indian hospitality industry has emerged as one of the key industries driving growth of the services sector in India. It has evolved into an industry that is sensitive to the needs and desires of people. The fortunes of the hospitality industry have always been linked to the prospects of the tourism industry and tourism is the foremost demand driver of the industry. The Indian hospitality industry has recorded healthy growth fuelled by robust inflow of foreign tourists as well as increased tourist movement within the country and it has become one of the leading players in the global industry.

LO1. 1.1 Analyse of main tourist destinations and generators of the world in terms of visitor numbers and income generation

The Travel and Tourism Industry as a business division is collected around items, organizations, customers and extraordinary organization aptitudes to try. This equitable suggests that there is a need to work in an all that much composed framework with extraordinary mechanical assemblies and standards to adequately work in an astoundingly engaged, testing and consistently changing world and business circumstances. Once the above steps are situated up then ascents the need to keep up them improve when central and face unpredicted obstacles that may rise every so often as it is typically expected in any human dealings. Particular models and hypotheses have been set up so organization can apply those to make a business run effectively.

Higher investment in the sector: More than half of the Ministry of Tourism’s Plan budget is channelised for funding the development of destinations, circuits, mega projects as well as rural tourism infrastructure projects.

Despite wars, political turmoil, natural disasters, terrorist threats, and economic and energy crises in various areas of the globe, the tourism industry surges and has become one of the fastest growing economic sectors in the world. According to the UNWTO World Tourism Barometer, in 2014 over 1 billion tourist traveled to other nations (World Tourism Organization, 2015). The tourism industry is a vital component of the global economy. It helps to promote peace & stability in the developing world by providing jobs for the locals, generate revenue/income, and promote cultural awareness. Put together, tourism generated nearly seven trillion dollars in 2014 worldwide (Statista, 2014). As the years’ progress, so too will the number of tourists.

With rapid advances in science and technology, tourism has acquired the station of an industry in all industrialized countries. The high influx of foreign tourist traffic has accelerated demand for

Tourism is an age old activity associated with civilized nations. Thus, tourism literature too has a long history. This paper critically exam the positioning of a New-fangled league of tourism products in India. The creation of New- fangled tourism products like medical tourism, spiritual tourism, religious circuits, wedding tourism, cruise tourism, caravan tourism and film tourism has served to widen the net of this sector. Inbound tourism is booming and the country is going all out to lure more travelers from around the world. Contrary to perceptions across the world that tourism in India is still

Being a beautiful country, India has become the South Asia’s most famous tourism destination. It attracts tourists from worldwide by providing them a unique tourism experience in order to cherish the unforgettable moments for the upcoming years. In India, there are a wide range of tourism options being cherished by the tourists during their vacation times. The country is found to be wildly renowned for its unique cultural and geographical features. The unique culture and geography have made India, a prominent tourist destination in the world. With perfect tourism potential, the country has copious tourist’s attractions, which captivate almost all sorts of tourists from all over the world.

One of the premier key areas inside of the world economy is touristry division. it 's the speediest developing segments of the economy now-a-days and is foreseen to get extra monetary profit and business moreover as trade. touristry might be comprehensively talking characterized into universal touristry and between provincial touristry. each the sorts hold higher prospects and contribute towards the monetary advancement of a particular national district. touristry is of major monetary and social hugeness in each created and creating nations. It gives immediate and circuitous business opportunities and raises the nature of living and nature of the occupant populace. It furthermore backings and searches out celebrations, individuals conventions, expressions and occasions and gives a commercial center to local specialties and delivering. The touristry exchange India is generous and lively. India 's touristry area is one in all most gainful segments of the nation, and furthermore made with tributary a significant amount of trade.