The Pestle Analysis Of The Tourism And Hospitality Industry

Tourism is the world’s largest industry with nature-based ecotourism seeing rapid growth since its initial arrival in the 1980s. It is estimated by the World Tourism Organisation that nature tourism generates 7% of all international travel expenditure (Lindberg, 1997) and this figure will have increased rapidly over recent years. It’s increase in popularity is due to a number of factors; tourists becoming increasingly bored of the typical sun, sea and sand holiday’s, the increase in global awareness or environmental issues such as global

The hospitality and leisure industry hug a variety of sectors and businesses across hotels, restaurants and restaurants, travel and tourism, gaming, sport and leisure. The sector is reliant on the consumer confidence and business sentiment and is facing rising pressure to deliver innovation, value and quality. Hospitality is that business that helps people to feel welcome, relaxed and to enjoy themselves. It is all about customer service and providing the best quality and experience possible for the customers. (Discover Hospitality, 2012)

In this document I am going to be looking at factors that affect both inbound and domestic tourism deciding to travel to the UK or travel within the UK. Some examples of factors that I will be reviewing include the following; health, safety and security, accessibility, marketing campaigns, availability of products and services, quality of good and services, economic recession in the UK/and or tourist generating countries, exchange rate, travel restrictions, emerging of new markets, competition from other destinations and finally weather.

Economic factors – which include interest rates, economic growth, exchange rates, inflation and taxation changes (Nieman, G; 1998). The change the economy can have a major impact on the behaviour of the business. For example: inflation may cause a higher wage demand from employees (Herrigton, Kew & Kew; 2009).

Gustavo, N. (2013). Marketing management trends in tourism and hospitality industry: Facing the 21st century environment. International Journal of Marketing Studies, 5(3), 13-25.

Throughout my academic career, I have taken courses in Research Methods, Public Policy, International Relations and Politics and History of Alternative Tourism. Through this coursework, I have learned the importance

When the UK economy is doing well, its pound sterling is strong. However, having a strong pound actually discourage visitors from overseas because when they exchange their money in pound they will be getting less money, so it make visiting UK expensive and it deter inbound visitor from visiting UK.

Our team chose the hotel industry in the United States for our economic analysis. The hotel business has existed since the earliest times, and has influenced the development of the economy since the founding of this country.

While many problems are associated with International tourism, it can still offer some advantages. For one thing, International tourism can open job opportunities for the native citizens. To demonstrate, when tourists visit an area, the vast majority of them don’t have a clue on

Tourism plays a vital role in economic development in most countries around the world. The industry has not only direct economic impact, but also significant indirect and influential impacts. There is agreement among experts that the travel and tourism sector is the fastest growing of global economy. According to the latest UNWTO World Tourism Barometer, international tourism receipts surpass US$ 1 trillion in 2011, growing about 3.8%up from 2010 (WTO, 2012).

Another aspect of impact of tourism on a country’s economy is that it facilitates the expansion of the market of goods and services. Foreigners come to a country willing to spend money on different goods and services, thus increasing the amounts of sales. This is a great chance for producers and service providers to receive larger profits. This concerns not only hoteliers, tour operators, and souvenir shops owners. Public transportation, retail stores of different kind, restaurants, and cafes benefit from international tourism. Obviously, if these industries are in demand, businesses will be expanding. On the one hand, it means that more money is paid to the budget. On the other hand, profits generated by the owners are spent inside the country, affecting almost all the fields of the

As can be seen, the macro environment has had a significant impact on the tourism industry during the 2000s. The key factors affecting tourism negatively would be the political, social and

Tourism is a very dynamic sector in global competitions. According to the demand of time and the passion of people tourist destinations are transforming day by day (Adnur, P. 1980). For this reason one can find a lot of changes current form of a destination rather than the previous form. The study of innovation in tourism sector encourage to how we can do it something new in the tourism industry. The use of innovation theory in the tourism sector has to develop of tourism Industry and help to increase visitors. On the basic level, a consensus has been reached that an innovation defines a new idea and applied to provide some type of business value (Sears and Baba, 2011; Yu and Hang, 2010). According to Carlsen et al. (2008: 3), innovation can be described as “a catalytic development process that activates a number of processes according to a new situation.

The Travel and Tourism industry is still one of the largest single businesses in world commerce and its importance is widely recognized. The tourism industry is now one of the largest sectors earning foreign exchange. In the face of many benefits, many countries have started assigning due weight age to the tourism industry in their national development agenda. Tourism is an industry that operates on a massively broad scale: it embraces activities ranging from the smallest sea-side hotel; to air-lines, multi-national hotel chains and major international tour operators. Originally, non-traditional industries such as tourism emerged as a solution to strike a balance between ecology and industry

The tourism sector is one of the most sensitive industry effected by exchange rate fluctuations. I think the most relevant present financial risk is therefore subject to the changes in exchange rate.