PEST Analysis for a Company in the Tourism Industry

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The Tourism industry is one of the fastest growing industries in theworld. The World Travel and Tourism Council estimates that in 2004Travel and tourism is expected to generate* US$ 5,490.4 billion of economic activity* 10.4% of total GDP* 214,697,000 jobs or 8.1% of total employment* 12.2% of total exports [1]My task is to conduct a PEST analysis for a company within the Tourismindustry. Within the tourism industry, I have to select one area of interestlike transportation, accommodation and transportation etc. and thenone company doing business with these sectors related with thetourism. According to Leiper ?Transportation is the only link between thetourist-generating region and destination region?[2]So, transportationwas a more…show more content…
Unparalleled service, late availability, nannies for kids , pleasantexperiences for its customers are the peripheral services provided bythe company. 2.2 Service PackageService package provided by the company for different holiday travelsincludes all airport taxes, flights and transfers, accommodationincluding breakfast and meals and the service of its representatives. Chapter 33.1 CustomersHolidaymaking is the main reason that UK residents travel abroad. Asthe company deals with the both inbound and outbound tourism I willhave a brief look on the inbound and outbound market. Number ofoverseas visits by UK residents increased to 59.3 million in2002.Expenditures by these visitors, excluding international fares£27.07 billion-slightly higher than the total for the domestic market(which includes fares). Describing about the demographics of the customers, most of thecustomers are families with children and older people but latest trendhas been seen in the youth to take holidays. 3.1.1 Customers? Buying BehaviourContinued concerns over safety and security while travelling are foundin the customers for holiday travels. Tourists are increasingly buyingexperiences rather than a usual routine holiday. They try to find aparticular activity. The fuel blockades at U.K petrol stations, the events of 11thSeptember 2001, the foot and mouth outbreak, SARS and Iraqi war hashad continuous affect on the buying behaviour of UK market customers.

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