Globalization

Globalization



Globalization

Globalization is a trend that seems to keep changing with time. Derived from the word “global”, different meanings have been used to describe globalization. The term globalization has been affiliated with internationalisation, Deterritorialisation and universalisation. It has also been associated with libralisation and westernisation. Globalization cannot be just limited to either the political or economic processes, or worldwide flow of capitals. It is based on a combination of factors including the ones stated above. The meaning of globalization is taken to be different by different people. This is because globalization affects people, businesses and industries in many different ways. Capital flows from one country to the other, migration of workers, international competition, and trade takes place at an increasing pace due to globalization. The economic consequences of globalization, therefore, affect each and every industry throughout the world. The countries all over the world have been linked into an emotional bond through globalization. Globalization has allowed massive changes in the qualities of products and services being offered by different countries. Tourism for instance, has been boosted as due to the increased connectivity of the different countries, people keep visiting one country after the other for business, educational or tourism purposes (Held, et. Al, 2007, pp 21-22).

This international merger of the countries worldwide has immensely enhanced tourism all around the world. With the improvement in airlines and road infrastructure, transportation has been effectively improved. Mobile phone network and internet facilities along with the easy transfer of money from one country to the other have all boosted the growth of tourism industry in almost each and every country of the world. However, side by side, it has also meant an increase in competition. Each country, for example UK has to compete with many other countries in the world for attracting tourists. The innovation capacity for most of the countries has been increasing with time. Enhanced by technological developments, competitiveness of different industries has become a key economic factor in recent times (Aglitter, 2000, pp.100).

When it comes to tourism, the United Kingdom has the 5th largest tourism industry in the world. It holds immense importance in the UK economy as apart from generating 2.65 million jobs, it contributes 114 billion pounds each year to the economy.

Defining tourism is not an easy task. It has many different definitions. The most common explanation is that it is an activity that provides products and services to millions of tourists each year who want to enjoy, relax or meet people in different countries. These products and services are obtained at the cost of money. Therefore, how el each country is doing in terms of economic prosperity does have a massive impact on the tourist industry. The definition provided by the World Tourism Organization is:

'Tourism comprises the activities of persons travelling to and staying in places outside their

Usual environment for not more than one consecutive year for leisure, business and other

Purposes.”

Like the other industries, the economic aspects of the tourism industry have come under the considerable influence of ...