The Competitiveness of the Hospitality Industry in the Context of Globalization

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The age of globalization has brought about changes in most industries and activities around the world. We are now living in a borderless world where the impact of physical borders has been reduced and where interactions among different nations have become more open and less restrictive. It is a fact that the hospitality industry has not been spared by the impact of globalization either. In fact, for the most part, the hospitality industry has benefitted much from this age of globalization. The restrictions which physical borders and distance has posed in the past are no longer a significant barrier because the internet has made the globe smaller by making it possible to virtually access many tourist sites and consider their prospects. The advancements in information technology have made it more convenient for hotels, restaurants, and the hospitality industry to gain access to a wider audience and a wider consumer base. With these considerations, this paper shall critically evaluate the competitiveness of the international hospitality industry in the context of globalization. A discussion on the globalization drivers shall first be laid out followed by a discussion on the following aspects: the impact of globalization, impact of transnational companies and multinational companies and deregulation, impact of globalization on SMEs, taxation and economic leakage, inequality in globalization, the advantages and the setbacks and the future of the hospitality industry followed by the conclusion. Firstly, this essay would consider some authors’ attitudes towards globalization. (Weiss, 1998) states that ‘globalization is a big idea resting on slim foundations’ while (Hirst and Thomson, 1996) argue that ‘globalization is a myth ... ... middle of paper ... ...dnjal, A. Szabo, I. Pecher, H. Hadszuh, Radenci: 4th Small Business Development centre international conference. University of Kentucky, (n.d), Industry Globalization, Available from: www.uky.edu/~wallyf/globaliz.ppt Vic, G. and Wilding, P. (2002) Globalisation and Human Welfare,2nd ed. New York: Palgrave Macmillan, p.1-150. Wallace, M. et al. (2010) Globalization, labor market transformation, and metropolitan earnings inequality, Social Science Research, Elsevier, 40(1), p.15-36. Wahab, S. & Cooper, C. 2001, Tourism in the Age of Globalisation, London: Routledge. Weiss, L. 1998, the global migration crisis, New York: Harper Collins. Whitla, P., Walters, P., Davies, H. 2007, Global strategies in the international hotel industry, Hospitality Management, vol. 26, pp. 777–792. Yip, G.S., 2003, Total Global Strategy II, New Jersey; Prentice-Hall.

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