Contemporary Issues in Travel & Tourism of UK

Added on - 22 Nov 2020

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Contemporary issues inTravel & Tourism1
TABLE OF CONTENTSTTASK 1............................................................................................................................................31.1 Analysing the issues currently driving change in travel and tourism industry.................31.2 Analysing different current issues using appropriate methods and resources..................4TASK 2............................................................................................................................................52.1 Current trends in travel and tourism sector of UK...........................................................52.2 Appropriate techniques and resources to analyze current trend in UK’s travel and tourismsector.......................................................................................................................................73.2 Developing strategies related to the way Fulham Shore Plc could respond to change..93.3 Justifying the strategies for the way business could respond to change.........................11TASK 4..........................................................................................................................................114.1 Analysing the impact of issues as well as trend which drive changes in tourism sector114.2 Identifying the consequences of business failing to responding to changes in the market...............................................................................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................142
INTRODUCTIONContemporary issues can be defined as the problem faced by travel industry. Dynamicbusiness environment and increase in competitions are the two important factors which havegiven rise to major issues. In UK, travel and tourism sector is considered to be an industry wherechange has taken place at very large scale. Travel and tourism in United Kingdom has showntremendous progress in last few years. But various contemporary issues in an industry hascreated the major hurdles in the growth of travel and tourism sector. It is very much importantfor companies operating in tourism sector to develop strategies, as this will assist businessentities in dealing with challenges and help in providing appropriate response to changes. UnitedKingdom is considered to be as one of the most popular tourist destinationThe purpose of the report is to highlight the major issues faced by companies such asTitan travel in tourism industry. It also has focus on analyzing the way Fulham Shore plc isresponding to change. Assignment also emphasizes on identifying the effects of various issues aswell as trends which has dive change in tourism sector.TASK 11.1 Analysing the issues currently driving change in travel and tourism industryWith the passage of time, there has been tremendous changes have taken place in businessenvironment. Travel and tourism sector is one which where the drastic as well as positivechanges has taken place. It is required by stakeholders in Titan travel to develop an effectivestrategy which is very much important in order to resolve various problems. There are number ofissues such as change in technology, political instability, increase in criminal activities orterrorism, fluctuations in exchange rate and currency etc. has created major barriers in the growthof companies such as Titan ltd, which is operating business in tourism sector. All theseproblems have direct as well as significant impact on the profitability of firm (Prebensen, Chenand Uysal, 2018).In addition to this change in legislation has direct as well as major impact of company’sbusiness operations. It also has great influence on management decision, business plans andpolicies. Change in economic condition create challenge for firm to maintain profit margin. Thethree major issues faced by Titan company are:3
Economic issues:This type of issue include continuous fluctuations in exchange or currencyrate, change in economic condition of the country, amendment in interest rates etc. All theseissues are directly having impact on the profitability of companies such as Titan limited.Economic issues also have direct and significant influence on purchasing decision ofmanagement in an organisation. These issues have indirect effect on the Quality servicedelivered by an enterprise to its customers.Technological issues:This has become the major issue along with increase in globalisation.Technological advancement has led to increase in competition within an industry, due to whichTitan limited company is facing issue in concentration on maintaining\ the quality servicesprovided to customer (Epstein, 2018). This factor or issues have direct and great effect on thereputation of business entity. Technological advancement has impacted the way sharing ofinformation take place between organisation. This is an issue as many of the customers are usingtechnology for availing the products or services offered by travel companies, it has significanteffect on sales of firm.Terrorism issues:There has been increase in terrorism activities in last few years which has ledto the threat to travel business. Terrorism issues has negative effect on the growth of tourismbusiness. As people prefer to travel less in such countries where such unethical or criminalactivities take place. This factor has great impact on the sustainability of firm in specific market.1.2 Analysing different current issues using appropriate methods and resourcesThe two major different issues which have significant effect on companies operatingbusiness in Middle east and North Africa. These two destinations are very popular and touristprefer to visit such places due to its beauty. Political instability in North Africa and Middle easthave direct effect on the growth of organizations operating business in such countries. Politicalunrest or issues in such countries restricting tourist to visit such places, this factor has effect ontheir profitability of firm to lager extend (Hayes,2018). These political issues are creating bighurdles in the tourism business. Due to the political unrest in the middle east and North Africa,there has been tremendous decrease in number of tourist visiting such destination every year.On the other hand, favorable political conditions in the country has supported anorganization in promoting as well as expanding business. The dispute between Iraq governmentand ISIS has given rise to the terrorism tension within North America and Middle East. It hascreated challenges for tourism companies to operate their business in successful manner.4
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