Emerging Global Trends in Tourism: Impact on Business & Development

This report examines the emerging global trends in the tourism industry in the 21st century, focusing on aspects such as safety and hygiene in the wake of the COVID-19 pandemic. It discusses the importance of these trends for decision-making in tourism development, particularly in meeting objectives related to health and safety standards. The report analyzes how changes in global trends affect businesses in the tourism industry, considering factors like competitive rivalry and supplier power. Furthermore, it evaluates the costs and benefits of these trends on the economy, society, and environment, highlighting the contribution of the hospitality industry to economic development through increased GDP and national income. The conclusion emphasizes the growing opportunities within the hospitality industry and the importance of understanding global trends for effective business operations.

Tourism Environment and
Industry

Table of content
 INTRODUCTION
 MAIN BODY
 What are the emerging global trends in travel and tourism industry in the 21st century
 Why are these trends important for decision making of tourism development to meet its
objectives
 How would the changes in global trends affect the businesses in tourism industry in
terms of competitiveness globally
 What are the costs and benefits of these factors on the economy, society and
environment
 CONCLUSION
 REFERENCES

INTRODUCTION
 Tourism industry is one of the most effectively growing sector all over the world.
It has been observed that tourism has gain more popularity with time. This has
increased its profit generating capacity and has made great contribution done
towards economic up liftment of an organization. Tourism industry has been
gaining its roots all over the world which makes its global recognized market for
business opportunities.

What are the emerging global trends in travel
and tourism industry in the 21st century?
 Safety & Hygiene Tourism Trends: These are most
important trend that has been rising within tourism sector
after the COVID 19(Pencarelli, 2020). As per this all
airlines, cruises, hotels, restaurants or bars within which
tourists visit must maintain hygiene by creating proper
process for sanitization and maintain social distance. The
trend helps in making tourists destination clean and safe
for visit that increases customer base within tourists
sector of an country. Due to pandemic situation its has
attain more importance for tourists since they travel from
one place to another.

Why are these trends important for decision making
of tourism development to meet its objectives
 Safety & Hygiene Tourism Trends: These are
important aspect which is used in order to enhance
decisions which is based over various kinds of strategies
helping in developing safety standards regarding
tourism operations. This trend has made tourists
industry to attain focus upon perspectives related to
health hygiene(Luu, 2021). Safety has become
important concern for tourism industry since the time of
COVID various strict measures are followed which
makes safety developed for tourists visiting particular
destination.

The changes in global trends affect the businesses
in tourism industry
 Competitive rivalry: Competition is one of serious factors
that create impact over business and its profitability.
Increasing numbers of players in industry increase
competition which does not allow start-up company like
hospitality industry to capture more market share and
profitability(Hu and Yang, 2020.. In order to overcome of
this competition factor, company needs to adopt innovation
and differentiation that allow them to overcome of
competition. There are various players which are already
providing retail online space to their consumers. So, this
factor creates high threat for company.

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 Supplier power: Supplier also create impact
over business of any organisation as increasing
numbers of supplier reduce power of them in
market but decreeing number of supplier
results in increasing power of supplier for
bargaining. hospitality industry is one of
organisation which has numbers of supplier in
market which reduce power of supplier to
bargain. It results in less threat of this factor for
business of hospitality industry.

What are the costs and benefits of these factors on
the economy, society and environment?
 Global trends has effected financial activities of
hospitality industry by making more advanced
structure formed that uses money with effective
methods. These trends has helped in creating monetary
benefits by contributing towards economy by
increasing its GDP and National Income. This makes
hospitality industry become backbone for economic
development within a country(Adedoyin and et. al.,
2021).

CONCLUSION
 From the above discussion it can be concluded that hospitality industry is an
growing industry which holds various opportunities in terms of business
operations conducted within the sector. In this presentation it has discussion about
global trends is done with its impact upon development of decision making within
the industry.

References
 Adedoyin, F.F and et. al., 2021. Environmental consequences of economic
complexities in the EU amidst a booming tourism industry: accounting for the role of
brexit and other crisis events. Journal of Cleaner Production, 305, p.127117.
 Fei, J and et. al., 2021. Spatiotemporal coupling coordination measurement on
islands’ economy-environment-tourism system. Ocean & Coastal Management, 212,
p.105793.
 Hu, D. and Yang, Y., 2020. The development of marine sports tourism industry based
on low-carbon economy. Journal of Coastal Research, 112(SI), pp.97-99.