Technology and Globalization in the Tourism Industry

Tourism sector has been identified as major
source of revenue which also provided major
growth and development to any country. In past
several years, there are various changes have
been occured in tourism industry. Tour
operations industry has also achieved growth
with increase in demand and supply of product
or services. In present context, there are various
current trends and development has been
occurred which has provided influence on
growth and development of industry. Some key
elements trends and development are mentioned
below:
Rise in disposable income of people: Findings
of research has provided understanding that
economy of countries has achieved growth in last
several years. With continuous economic
development, disposable income of people in
countries has also increased. Disposable income
of any individual is that part of income which is
saving after the application of money. Rise in
disposable income leads to an increase in
demand of tour packages between people.
Technology: It is also identified
as driving force of change that
presents opportunities for greater
efficiencies and integration for
improved customer’s services.
Technology is considered as a
tour business activity used for
creation of strategic resources and
a tool to raise competitiveness in
industry. Through this,
Trailfinders can also provide
information of all its tourist
services to its customers, virtually
across the world. It also brings
changes in customer’s service
technology and service
personalization .
Rise in cruise holidays: The
noticeable trend in tourism
industry is identified as increase
in cruise holidays. The number of
cruise passengers reached 24.7
million in 2016 and it’s expected
to reach 26 million from 2017.
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Globalization and FDI: It implies to
the fact that globalization has
removed the boundaries between
countries and also provided support
to travel and tourism industry.
Foreign direct investment has also
provided support in increasing the
access in overseas market.
Continuous increase in investment
has provided support to tour
operators in development of new and
unique tourism products and
services.
Transportation services:
Transportation has played a
significant as it tends to provide
grwoth and development to tourism
sector in industry.. Increase in new
and effective transportation service
has also provided major influence on
development of tourism industry. It
helps tour operators to provide high
quality services to their customers.
Transportation cost is decreased with
an increase in transportation
facilities. Low cost transportation
increase in demand of products. For
example: Airlines are offering low
cost travelling facilities and reduced
types of charges on air bookings.