Global Tourism Industry

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Global Tourism Industry

Introduction

In the context of the global business environment, the markets have expanded drastically to include the majority of the regionally segmented consumer groups. In certain industry types the companies have to seek to attract the majority of the global consumer market and they cannot choose to have a very restricted or limited strategic outlook. The tourism industry is highly consumer oriented and the entire business dynamic is based on the perception of the tourism destination by the global consumer base. The majority of the tourism sector market is predominantly represented by the population of the developed countries. These countries have the adequate level of per capita resources required for the general population to invest in their vacations and luxury oriented activities (Teo & Li, 2003). The demographics of the population groups belonging to the developed countries usually include family units and also the individual young groups. These individuals are highly conscious of the global image of the tourism destination, and the relevant safety concerns. Hence it is important for the countries that seek to develop a long-term and sustainable tourism industry, that they possess a positive global image and remain an attractive tourism destination for the majority of the global tourist groups.

In the context of the contemporary global business sector the importance of a sustainable national tourism sector is pertinent to the overall growth in the GDP. The tourism industry has multiple impacts on the economy of a country as it helps the growth of various other business sectors. As the numbers of foreigners that visit a country in reference to the tourism industry increase, their investments in other national business industries also enhance. The other business sectors such as the entertainment and the hotel based companies have a direct stake in the tourism based industry, as the tourists usually utilize these businesses for their relevant accommodation and pleasure oriented activities. This industry also has an indirect positive influence over several other industries, causing the overall economy of the country to expand. The revenue stream that is generated from the tourism industry causes several businesses to attain high levels of profits. These profits can be used by these businesses to expand their organizational setups and enhance the economic activity of the country. Hence it can be stated that the tourism industry has a direct impact on the multi dimensional economic growth of the country.

Discussion

The success of the tourism sector in any country is heavily based on the global image of the country and the adequate infrastructure. Since the majority of the tourist that visit several global tourism destination belonging the wealthy developed countries, the factors such as the global image and the socio political conditions of the country are very important (Riege & Perry, 2000). Considering the massive advantage that the tourism industry has on the economy of a given country, majority of the developed and developing nations are seeking to forming positive relation ion the global socio economic sector, so ...