Global dimensions of business assignment

Running head: GLOBAL DIMENSIONS OF BUSINESS
Global Dimensions of Business
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GLOBAL DIMENSIONS OF BUSINESS1. Name of company, business nature and brief description of the company
Travco Group is one of the leading travel and tourism, hospitality and real estate
conglomerates of Egypt, with a success story of almost forty years. It offers multiple hospitality
services across Egypt and Middle East. Currently, the company owns and operates in many
countries in the Middle East and Europe offering an extensive range of hotels, resorts, Nile
cruises and various types of tourism facilities, such as tourist transport, low cost airline,
construction and design and large real estate developments that offer luxury summer residences,
and various ground services of highest standard. Total assets of Travco exceed EGP 25 billion
(Travcogroup.com 2018).
2. Mission of the company
The mission of Travco is to maintain the highest international standard in all its products
and services and consistently seek and apply the latest and advanced technologies for enhancing
the operational efficiencies in all types of business ventures. Travco also works towards
diversifying its product and service portfolio and achieve a sustaining and profitable growth in
the upcoming markets (Travcogroup.com 2018).
3. A country where the company is not present (operational)
The company does not sell its products and service in the United States of America.
4. The countries where the company sells
Travco has established its business operations offices in Egypt, Oman, UAE and Jordon.
Apart from the above countries, it offers its range of hotels and services in many countries in

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GLOBAL DIMENSIONS OF BUSINESSEurope, such as, Germany, Belgium, Austria, Turkey, Switzerland, The Netherlands, Spain and
China and soon to be launched in Qatar.
5. Global economic overview
According to the report by World Bank (2018), the growth of the global economy is
forecasted to be at 3.1% in 2018 as it saw a rapid and strong rise in 2017. There has been a good
recovery in the global investment, trade and manufacturing, which is expected to be continuing
in 2018 also. The advanced economies are expected to grow at a moderate rate of 2.2% in 2018
as the growth in investment is expected to stabilize. However, the developing and emerging
markets are expected to grow at a rate of 4.5% in 2018 as the level of commodity production and
exports are predicted to increase globally. IMF (2018), highlights that the international level of
output had increased by 3.7% in 2017, which is pushed by the economies of Asia and Europe,
providing a hope for the global economy. Cyclical pick up in the global economic activities are
targeted by the investors and policy makers as it is expected to boost the potential global output
and the benefits are expected to be shared by all the economies.
6. Economic overview of Egypt
Egypt has been experiencing a consistent growth since its annual growth rate of GDP
reached 4.3% in the year 2015-2016. In 2017, the GDP of the nation stood at USD 1.198 trillion
(PPP). Service sector is the biggest contributor in the GDP with 52.5% in 2015, followed by the
industrial sector (36.3%) and agricultural sector (11.2%). The budget deficit has declined from
6.4% of the GDP in 2016 to 5.4% in 2017. As of 2015, 26% of the population lives below the
poverty line and rate of unemployment was 11.3% in the 3rd quarter of 2017. The level of export
was USD 22.5 billion and level of import was worth of USD 50.91 billion in 2017 (World Bank