GLOBALIZATION AND HOSPATILITY

A Critical Evaluation To What Extent The Process Of Globalisation Will Affect The Growth Of Tourism And Hospitality Industry In United Kingdom And How



A Critical Evaluation To What Extent The Process Of Globalisation Will Affect The Growth Of Tourism And Hospitality Industry In United Kingdom And How

Introduction

Globalization has changed the business dynamics in the hospitality industry. Greenberg and Baron (1997) noted the increase in capital flows, competition, and economic interdependencies across countries. Choi et al. (2000) observed the evolving dynamics of international labor utilization, while Wilson et al. (2000) cited knowledge gaps in contract catering in the hospitality industry.

In this landscape, it becomes important for hospitality managers to understand the implications of globalization and plan for the implementation of strategic approaches. For instance, Jones (1999) indicated the need to heighten attention to multi-location chain management through activities such as integration, location, configuration, organization, implementation, and adaptation.

Additionally, hospitality managers in emerging locations need to plan to respond to growing globalization. The World Tourism Organization (2004) forecasts that international travelers will reach 1.56 billion by 2020, with locations such as East Asia and the Pacific, South Asia, Middle East, and Africa posting over 5 per cent increase in arrivals each year. This paper is based on a survey conducted by the author among 118 senior level travel executives in 35 countries.

The objective of the study was to explore the views of travel executives on the impact of globalization on contemporary business following concepts advanced by Thomas L. Friedman (2000) that:

* the approaches of contemporary business is far different compared to the period prior to the Cold War era;

* modalities for communication have expanded and changed;

* there are evolving investment approaches worldwide; and

* technology has paved the way for changes in the business environment.

Additionally, the author sought to validate if there are psychological ramifications brought about by globalization to individuals and organizations.

The findings are presented, and discussed in the context of strategic implications for hospitality managers in emerging locations.

Discussion

Globalization is a method of certain thing turning into global. It is facilitated by the newspapers of communications. Through wireless and satellite data can come to the entire globe nearly instantaneously. Important functions, if public, political or sportive, have international audiences. Another facet of international overpass is the rapidity of movement. People can journey and transfer items speedily any position in the world. But, in alignment to realise the influence of globalization we should understand what is evolving global. Communications is a method that facilitates globalization. What persons are really anxious about are the item that receive globalized. People would usually welcoming the globalization of information, for example.

What we had in the Soviet impede some years before was State capitalism, where the State belongs to the assets of output, ostensibly in the title of the people. Capitalism as an financial approach is as good as any other till a advanced scheme is evolved. Resources of output have to be accumulated. A definite self-interest may assist as an ...