Hospitality And Tourism Industry Case Study

1043 Words3 Pages

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 …show more content…

Through innovations in finance, new sources of financing lucrative hospitality and tourism businesses such as hotels, bars, casinos, restaurants and resorts are now available in most countries and this has led to an increase investment in the sector. Finance technologies such as use of credit and debit cards as well as online platforms forms a critical point in the financial context of the hospitality and tourism industry (Okhiria et al. 2016, …show more content…

This is important as it determines the probability of attracting tourists and gaining in terms of revenue. Technology use is important in this context through use of social media platforms to engage the prospective customers interested in purchasing the tourist products as these platforms serve as marketing strategies. Adoption of technology in this context is important due to the changing customer demographics which has in recent years included the younger generation who are tech-savvy (Jessica 2016, p.

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