Significance of tourism and hospitality Tourism has enabled new waves on the world new horizon. Tourism has made the world a truly global village. It is among the fastest growing sectors in the economy and has significant impact on the environment, society and economy in both positive and negative ways. Tourism combines attraction, accommodation, transportation amenities, restaurant, entertainment activities and shopping. It is one of the most important tools for economic development.
At the present time, one of the inseparable parts of the economic growth is considered as tourism industry. Commonly, tourism is the movement of people to other places for business or leisure purposes as well as covers their activities. Holloway and Humphreys defines that the places where tourists come and spend their money are called as “tourist destinations” in other words “receiving areas”. Many countries have been improving tourism to overcome economic difficulties since it is growing fast. The industry activities have been demonstrated a general positive trend in the economy and it has already become the inherent part of economic development.
It also provides jobs for the locals. Stimulate sectors in hotels, bars, transport, shops, and restaurants. Tourism can also provide much-needed employment for people. It raises the profile of the place generally. Moreover, tourism gives the locality a chance to show itself off.
Tourism and Hospitality has developed rapidly and becoming extremely important to economy in the world. The income that several countries in the world receive from tourism industry can be reached to $1billion per year. In addition, Marketing is one of the most important factors that help and effect to tourism industry in many positive ways. Marketing evolved in the tourism industry since 1980. It promotes tourism industry by encouraging the tourists to travel at their destination with the strategy that made up to the tourist satisfaction.
From a positive perspective, film not only increased the consumption motivation of tourists, but also laid a solid foundation for infrastructure construction in tourism industry. Finally, it will optimize the current economic structure, develop a healthy
Since economic impacts are first on the list, I will start explaining this first. There are many economic impacts towards tourism. This can be proven by all the money the government collects through touristic industries, from hotel, restaurant, airport, sales, park entrance employee income tax and much more. In addition to this, tourists return to the country, so more and more money is received in the touristic industry. There is also the tourist multiplier effect, in which will increase the number of tourists due to other factors, and this can be seen as the tourist industry will help develop other industries in Thailand as well, which will all benefit tourists.
The economic activities are the ways in which goods and services are manufactured, circulated and consumed by societies worldwide. A healthy economy is when a new business is being established and jobs are created. This establishment leads to more spending as people will be working and the economy of a country will increase. The interactions of the countries will be active as they import and export goods between each other globally. This will increase the economic growth of every country worldwide and there will be many improvements such development of infrastructure, advancement of technology, improvement of tourist attractions as the will be tourists visiting these countries this will lead to job creation and the will be growth in GDP in each country.
By understanding this background of research, problem statement and objectives can be identified in this paper. This chapter also consists of justification of study. From this chapter, it can create awareness and interest for reader to study on this paper. Tourism is an integral part of the Malacca's economy. It produces tax receipts, and its wide scope of employment creation gives jobs that bolster the state's economic wellbeing.
lobal hospitality and tourism industry has experienced major developments in recent decades and is a major contributor to the global economy in terms of GDP and employment. Most countries depend on this sector for revenue generated from a myriad of activities associated with it including accommodation, hotels and restaurants services as well as travel services. This paper deeply analyses the business management issues that arise in the operational, human resource, financial, and product and markets contexts. The contribution of issues such as technology, globalization and sustainability on each will also be explored. The Operational Context Advancements in technology have eased operations in the hospitality and tourism industry through adoption
The challenge is to match the two systems in order to produce a lucrative sector. This calls for increased efforts that can register further growth of existing market segments and in this case Malta, to better position itself amongst its competitors. The concept of clustering is becoming increasingly popular in tourism and it can support the development of a number of niche markets. This is evidenced by the constantly growing number of co-operative links between different entities and individuals involved in offering specialized tourist products and services (The Cluster Consortium, 1999). It is therefore relevant to study who are the beneficiaries of tourism.