The Globalisation

The Globalisation

Globalisation and Scotland

Introduction

The Scotland is opulent in natural resources and economic prospective. It has a vulnerable and modern economy closely linked with the wider European Economic Area and the rest of the United Kingdom. The central industries of Scotland include, the Creative Industries, Sustainable Tourism, Food and Drink, Financial and Business Services, Life Sciences, Renewable Energy and Universities (Beaton, 1906, pp.72). The largest sector in Scotland is the services sector of the economy. After England, Scotland acquires the second largest GVA per capita of countries in the United Kingdom. The basic purpose of the Scottish Government is to increase the sustainable economic growth and creating more prospects for Scotland to flourish and to become a more prosperous country.

Discussion

The Hospitality Industry and Globalisation

The focal point for concepts of globalization to take root is the hospitality sector, in many countries where the major export industry is tourism.in Bringing people together in a global community, the hospitality industry plays an important significant role. At the very core of the globalization of international business is the hospitality industry. The implications of the global context in relational to the operations addressing the changing environment effectively, hospitality must be considered seriously by the companies. Sources of capital, employees, customers, products and management process, all aspects of the hospitality industry are touched by the globalisation (Mooney, 2005, pp.59). The advantages of globalisation will bring competition in the future that will emerge from the global entities of the hospitality industry. In a global environment, the difference in marketing hotel properties, owning, and differences in financing and operating will narrow in the upcoming future. The ability to move easily and quickly around the world, these kinds of services are increasingly looked upon by the hospitality customers. Globalisation has shaped the lifestyles and business of these multicultural travellers. The need to look to global markets for support is required by the hospitality companies as they grow into the global economy. Need to demonstrate the viability in a global marketplace is required by the hospitality companies in the view of the world's financial markets.

The impact of the Hospitality Industry on the Scotland's Economy

One of the major pillars of the Scottish economy and a major economic driver globally is the hospitality industry. 8.6% of the Scotland's jobs are covered with the hospitality industry comprising of 220,000 people directly and 120,000 people indirectly. To the Scottish economy in profit and wages, the hospitality industry contributes around £4bn. To create the largest number of net other hospitality jobs, the local authorities in Scotland with the highest level of personalized hospitality are projected. It is predicted that by the year 2020, the Scotland Hospitality Industry will be able to create 46,000 jobs along with the right supportive framework (Norris, 2007, pp.26). The rural areas of Scotland are benefiting from all the activities of the hospitality industry as the hospitality's job-creation potential, and wealth-generation is spread throughout the cities and town located in Scotland. In the cultural and social life of every community, the ...