HI5016 - Research Paper: Travel and Tourism in International Trade

This research paper examines the multifaceted impact of travel and tourism on international trade, considering both country and company perspectives. It explores how technological advancements, including social media, have reshaped trade practices and consumer engagement, influencing deals, discounts, and overall satisfaction. The paper analyzes the sector's contribution to economic expansion, infrastructure development, and employment, particularly in developing countries. It highlights the role of various factors such as technology, political systems, and economic policies in shaping the travel and tourism landscape. The study concludes that travel and tourism are crucial for economic growth, providing benefits to numerous countries, and expanding their economies. The paper references several academic sources to support its findings.

RESEARCH PAPER
TRAVEL AND TOURISM

Travel and Tourism
Factors affecting
International Trade
Companies point of
view
Countriews point of
view

Companies Point of View
 Technological
 Social Media
 Consumer Satisfaction
 Engagements
 Deals & Discounts
 others

Technological
 Rise in globalization an technology has made the
trade practices rise between the countries up to a
great extent.
 As rise in technology and innovation is seen,
 Thus the International trade has taken place
between countries in almost every sector
 Facilitated to form different governing bodies like
SAARC, WTO, GATT, etc

Consumer engagement
 Engagement wityh customers is
Necessary.
 Helps in gaining Knowledge about
perceptions.
 Helps in developing strategies
 Making decisions related to operations.

Company Point of view
• Trade is a commercial
transaction involving the sale and
purchase of goods, services and
information. In a simple word it
can be said that trade is a basic
economic concept involving the
buying ad selling of goods and
services.
• Travel and tourism is one of the
sector which is continuously
increased in the world and it aids in
increasing the expansion of
economic income of the country. In
the Australia, china, Japan, UK,
US, Germany, India, Indonesia,
Korea. Travel and tourism sector is
one of the industry which assists in
improving country's expansion in
the context of infrastructure,
economic, employment, etc.

Travel and tourism affecting
countries Expansion
• Travel and tourism is one of
the most important industries
for developing countries.
This is a sector which aid to
the countries in increasing
their economic income as
well as infrastructure.
• By their travelling and
visiting, national revenue is
generated. This thing assists
in improving the economic
condition of these mentioned
countries. As per the research
it has been founded that in
the 2014 1.2 million foreign
tourists visited the central
American country.

Conti....
• According to the WTTC 's
latest research it has been
founded that travel and
tourism's contribution to
world GDP outpaced the
global economy for the sixth
consecutive year in 2016,
rising to a total of 10.2% of
the world of GDP.
• On the basis of this data
review, it can be said that in
the various countries, travel
and tourisms has largely
assisted in increasing the
various aspects through
which citizens of the
countries are also beneficial

Factors affecting travel and tourism
sectors within the countries
• In the various countries like
UK, US, Germany, India,
china, Japan, Indonesia,
Korea etc there are different
kinds of technology, political
system, pricing policies,
economic policies, natural
resources, legal and
regulatory framework etc.
• These all factor largely affect
the travel and tourism sector
because according to these
components, organisation of
travel and tourism largely
influence the expansion,
growth and development.

CONCLUSION
Trade is refers to the activity which is used to selling and
purchasing the product and services either within the country
or outside of the country. In a simple term it can be said that
trade is one of the most significant activity through which
company and country involving the buying and selling
activities.
From this project report it has been concluded that Travel and
tourism is one of the most important industries for developing
countries. This is a sector which aid to the countries in
increasing their economic income as well as infrastructure.
With assistance of the travel and tourism sector, various
countries like china, UK, US, Germany, India gets the large
number of benefits which aid in expanding the country.

References
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Chi, C. G. Q. and et.al, 2013. Investigating the structural relationships between food image, food satisfaction,
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Kang, J. and Park, S., 2014. Factors influencing electronic commerce adoption in developing countries: The case
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