SCOTTISH TOURISM & HOSPITALITY INDUSTRY

Scottish Tourism and Hospitality Industry

[Name of the Institute]

Introduction4

Overview of Scottish Tourism and Hospitality Industry5

Key Stakeholders of Scottish Tourism and Hospitality Industry6

Local Communities7

The Tourism and Hospitality Industry7

Non-Governmental Organizations7

Government official's8

1.Supporting Actors8

a.Donors (Funding Officer)9

b.Labels9

c.University10

d.Travellers10

Discussion10

PEST Analysis10

Political/Legal11

Opportunities11

Threats11

Economic12

Opportunities12

Threats13

Social13

Opportunities13

Threats14

Technological14

Opportunities14

Threats15

Porter's Five Force Model15

Bargaining Power of Suppliers16

Threat of Potential Entrants - Barriers to Entry16

Bargaining Power of Buyers17

Threat of Substitutes17

Industry Competitors18

Future Strategy for Scottish Tourism and Hospitality Industry18

Building a Multinational Base: A Theme for the Future20

Improving Market Responsiveness21

Conclusion22

References23

Scottish Tourism and Hospitality Industry

Introduction

Hospitality and Tourism industry are among one of the world's largest zone, generating more than 10% of the Gross Domestic Product (GDP) (Goodall & Ashworth, 2012), also offering employment opportunities to masses. The industry of hospitality begins centuries before from an ancient tradition of Inn-keeping (Hare, 2013). In the recent years hospitality industry has undergone tremendous growth. There is no specific criterion of the definition of hospitality industry. However, mostly, in the United Kingdom it is a custom for using the Standard Industrial Classification, was presented in the year 1948 in UK in order to employ in group business development and other units of statistics by the sort of activates of economics in which it is promised.

Tourism today is an indicator of the development of civilization, by the knowledge of reality, a way of raising the cultural level and restore health. Tourism has become a mass phenomenon, and the tourist business is booming. As tourism is a profitable area of ??investment, since the beginning of reforms in Russia have engaged in this business for people who are very far from business as well as tourism industry attracted and attracts many entrepreneurs to its apparent ease (Hitchcock, 2012).

As per the World Travel & Tourism Council, the immediate commitment of hospitality and tourism industry to worldwide GDP recorded about US $2 trillion in 2012. This incorporate the financial action produced by businesses incorporating lodgings, travel organizations, carriers and other traveller transportation administrations (rejecting worker administrations), and additionally incorporates the incomes of the restaurant and recreation commercial ventures straightforwardly upheld by voyagers. The commitment of worldwide hospitality and tourism industry to planet's GDP is required to develop by 4.2% yearly to US $ 3 trillion (3.0% of GDP) by the year 2022.

Overview of Scottish Tourism and Hospitality Industry

The global development of tourism and hospitality industry must count as one of the most outstanding success of the past fifty years (NVision, 2002). The ratio of the population of the world, with one or more than one exceptions, participating in tourism activities has grown year on years over the past three decades. For the last 20 years, the tourism and hospitality industry of Scotland has prospered. A greater portion of the Scottish citizens participate in hospitality and tourism related activities, almost every year, both international and national. This propensity of tourism and hospitality is connected to general well-being and affluence.

Developing desire for an improved quality of life and disposable income has produced new tourists by the growth of their aspiration beyond traditional ...