Challenges for the Future of the Tourism Industry: Analysis and Report

This report examines the challenges facing the future of the tourism industry. It begins with an introduction to the industry and its various business sectors, including resorts, hotels, and tourist sites. The report emphasizes the importance of hospitality and tourism for economic progress and as a source of income. It then delves into current challenges such as inflation, external factors like government policies, and the need for sustainability within the industry. The report assesses the future prospects of tourism, acknowledging the industry's resilience and growth potential, particularly after the pandemic. It concludes by summarizing the key findings, highlighting the importance of addressing challenges to ensure the industry's continued success and contribution to both economic development and employment. The report also provides references to support its analysis.

Challenges for the future of
tourism industry
Names and IDs of the group members

Table of Content
• Introduction
• What business sectors are in the tourism industry
• Importance of hospitality and tourism
• What are the current challenges facing tourism industry?
• Is there a future for tourism industry?
• Conclusion
• References

Introduction
• The study is on challenges in future of tourism industry.
• Tourism has been an important revenue earner in many parts of the world where people from
different countries visit each other’s nations or travel domestically for leisure and seeing new
places,
• The presentation gives an understanding of the tourism industry with challenges being faced
currently by tourism industry.
• The future for tourism industry has been discussed in the presentation.

What business sectors are in the tourism industry
• Business sectors being present in tourism industry
•Tourism is a vast sector comprising of these following sectors:
a) Resorts and Hotels: Hospitality industry is linked with tourism as this is the place where tourist stay. There
are various types of hotels ranging from guest houses to five-star hotels. All have their customer segment.
b) Tourist sites: Tourist spots are the heritage of the place like castles, forts, natural resources like lakes and
rivers, mountains, temples and places of fun like parks and sanctuaries. These are the prominent revenue
earners for the governments in a nation.

Importance of hospitality and tourism
Economic Progress
•Tourism industry is the most important part of the
whole economy because of its contribution towards the
growth of the country economy.
•For example; Being a fastest growing industry in
Britain the expected growth rate of the tourism industry
is 3.8% till 2025.
Source of Income
•The hospitality always helps the customers to refresh
their mind after the hectic lifestyle or job and that’s
why became the main source of income for the
countries such as Dubai.

Current challenges facing tourism industry
a) Inflation: Rising costs in transport and hospitality services is a concern
which needs to be addressed as people may find it difficult to get them in
their budget and cancel the trip. This can reduce revenue for the industry.
b) External factors: Factors like government policies towards hospitality and
tourism is also a challenge to address as the policies have to be favourable
and should also have apt budget being given to tourism industry.
c) Sustainability: Tourism industry have to invoke measures which promote
sustainable nature and reduce wastage of energy. The industry has to cut
down on food wastage which is high in hospitality and also on usage of
electricity. Transport industry have to implement measures for pollution
control.

Is there a future for tourism industry?
Future for tourism industry
• The tourism industry had seen a major decline in pandemic but
as the situation improves, the industry is reviving itself. The
industry accounts for 9% of global GDP and has doubled over
past two decades with globalisation.
• It has to be strict in implementing measures which can assure
tourists of safe stay and safe travel. Humans have had a
tendency to travel around the world and this shall continue as
the pandemic subsides.

Conclusion
•It can be concluded that tourism industry is an important revenue earner for government and also
generates employability for local population.
• It brings foreign exchange and can sometimes bring investment in businesses too.
•The presentation discussed of sectors present in tourism industry and their relevance.
•It spoke about importance of tourism and hospitality.
• Challenges of the tourism sector was talked about.
•The future of hospitality industry was talked about along with recommendations given for same of
dealing with the current challenges.

Thank You!
Any Questions or Comments?

Reference List
• CORINA, S. C. and MICULA, L., 2018. The importance of tourism managers in ecological actions in the Orsova area. In
SGEM Conference Proceedings (Vol. 5).
• Grechi, D., Ossola, P. and Tanda, A., 2017. The European tourism industry in crisis: a stock market perspective. Tourism
Analysis. 22(2). pp.139-148.
• Viglia, G. and Dolnicar, S., 2020. A review of experiments in tourism and hospitality. Annals of Tourism Research. 80.
p.102858.
• Olimovich, D.I., Samatovich, R.S., Farmanovna, E.A., Khabibulayevna, K.S. and Saymurodovich, N.Z., 2020. The economic
impact of innovations in tourism and hospitality. Journal of Critical Reviews. 7(9). pp.258-262.
• Camilleri, M.A., 2018. The tourism industry: An overview. Travel marketing, tourism economics and the airline product, pp.3-
27.
• Pencarelli, T., 2020. The digital revolution in the travel and tourism industry. Information Technology & Tourism. 22(3).
pp.455-476.