Tour Operations Management: Investigating Recent Trends in Tour Sector

This report examines recent trends in tour operations management. It highlights the impact of globalization and foreign direct investment (FDI) in removing boundaries and fostering economic linkages between countries, creating opportunities for tour managers. The report also emphasizes the role of increased disposable income in raising living standards and boosting employment in the sector, which positively affects a nation's GDP. Technological advancements, particularly digitalization, are identified as crucial for enhancing efficiency and expanding business reach. Furthermore, the contribution of management education institutions in developing capable tour operators and the influence of transport costs on travel demand are discussed. Finally, the report acknowledges the intense competition within the industry and its effect on employment opportunities, ultimately aiming to balance demand and supply.

TOUR OPERATIONS MANAGEMENT
RECENT TRENDS IN TOUR INDUSTRY CURRENT TERNDS
A tour operator is a person who execute the holidays in tour and travel industry.
Basically it combines tour and travel packages which are essential for holidays.
With the help of advertisement and brochures they promote their products and
vacation itineraries. This kind of industry is growing faster in that area where travel
agents work to sell their products. Some of the recent trends which are used in
present scenario are as follows:
Increase in the disposal income in economy: Economy of any country can
change the future because they have a great impact on growth of any industry.
After spending of their money whatever is left for saving is known as disposal
income of any individual. Standard of living of any person can be raised if he/she is
having sufficient amount of finance, this can leads to growth of disposal income.
This is increasing employment opportunities in this sector through which their
revenues of their country is raising. Thus, it is having impact on GDP(Gross
Domestic Products) of the nation.
Developed Technology: Technology is the greatest assets to this sector.
Business will increase if there are advance techniques. Travellers do maximum
transaction through any medium of technology. For example: transferring of
money where visitor is travelling. One of the biggest medium in this field is
digitalization, this has increased the quality and making it more time and cost
efficient. If any company wants to make his business popular and want that every
person in the world should know about that then he/she can relay on this medium
of technology.
• Globalisation and FDI: Tour and travel industry has increased globalisation.
Anybody can now go to any place in the globe. This has eliminated the boundaries
between countries. Foreign Direct Investment has become more important than
trade. It has worked as a economic linkage among different countries. They are
providing supports for generating capital which is increasing opportunities for tour
managers to grow in a rapid speed.
Management education institution: There are several management institution
which are giving education related to travel and tour management so that capable
tour operators can be made. They are helping an individual to increase their
personality, performance and quality of work. They are creating suitable
managers who are expert in managing the whole tour.
Transport Cost: Transport is an important and basic medium through
which travellers travel around the world. It is influenced by cost of transport.
Price should be managed so that they can increase their demands of production.
Trailfinders is providing best offers in bus and airlines they are giving low
travelling cost.
Competition: In this present scenario competition between every industry
of being superior than others. This has lead to increase in employment
opportunities so as to make their demand and supply equal.