Analysis of Current Challenges and Future of Tourism Industry

This report provides a comprehensive overview of the tourism industry, discussing its significance in economic development and the various sectors involved, including hospitality and transportation. It highlights the industry's importance in creating employment, enhancing local businesses, generating income, and earning foreign exchange. The report then delves into the current challenges faced by the tourism industry, such as the impact of the COVID-19 pandemic, rising vacation costs, taxation, security concerns, technological changes, and the need for skilled human resources. Finally, it explores the future prospects of the tourism industry, emphasizing its potential for continued growth and the increasing interest in travel and exploration, concluding that the tourism industry has a bright future and is crucial for economic and social growth.

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
• Tourism is a very vast industry which play significant role in overall growth and
development of economy. There are various activities which are includes in tourism
industry which includes all those business that is directly provides products and services
in order to facilitate pleasure and leisure practices away from home environment.

WHAT BUSINESS SECTORS ARE IN THE
TOURISM INDUSTRY
• Tourism industry can be describe as the sector which is providing products and services
that is related to travelling. This industry is significant in order to meet with the
requirements of customers as well as with their travelling needs. It refer to all action
identified with the momentary development of individuals to areas from where they
normally live. It is one of the world's biggest enterprises and the economies of numerous
countries are driven, generally, by their tourist trade.

Cont...
• It's anything but a wide-running industry, which incorporates the inn business, the
vehicle business and some of extra ventures or areas. Therefore, travelling can be define
as the set of industry that is facilitating by offering infrastructure as well as products and
services which make possible travelling for different customers which is significant for
meeting with leisure and business interests.

Cont...
• Tourism is indeed a wide industry involves various areas or sub ventures which produce
and offer different comparative and various items and administrations which encourage
the interest for tourism and really make the demonstration of visiting and travelling for
tourism conceivable.

IMPORTANCE OF HOSPITALITY
AND TOURISM
• Hospitality and tourism is one of the most significant sector which includes number of
benefits and advantages. Hospitality and tourism industry includes number of importance
which is mention below in detail –
• Creates employment
• Enhance local business
• Generates income

Cont...
• Creates employment – The greatest commitment that the business makes to the economy
of a nation is making a large group of new positions. Direct open positions are accessible
as local area experts, visit organizers and administrators, travel advisors and in inns,
eateries and resorts. As Hospitality and Tourism develops so do these positions.
Occupations are additionally made in a few related businesses like the journey business,
carriers, occasion the board, carnivals and so on.

Cont...
• Enhance local business – Circuitous positions are additionally made for example in the
agriculture and food creation area, in retail industry, etc. In India, the development of the
administrations area has been generally because of the tourists visiting various
objections. The tourism business helps and supports foreign trade holds. It benefits our
nation in creating foreign currency. Consistently countless tourists visit India and
different spots. They visit places; stay and shop in our country.

Cont...
• Generates income – The Government acquires income from the business. The tourists
put in a great deal of cash in their travel designs nowadays. Visit organizations and
people associated with the area additionally acquire a lot. They, thusly, set the cash back
for the further development of the business. Additionally, income is likewise created
using different administrations like inns, eateries, landmarks and different spots of tourist
interest. These offices are improved and better kept up to draw in more tourists. So the
advantage is throughout.

Cont...
• Foreign exchange earnings – This is the main commitment the business can make to the
economy of a country. All visiting consumption brought about by foreign tourists is a
wellspring of foreign trade profit. Numerous nations of the world make it obligatory for
tourists from abroad to convey a specific measure of foreign currency for the whole
length of their visit. Thus, foreign tourists are the best methods for acquiring foreign
currency to the host country.

Cont...
• Foreign direct investment – As Hospitality and Tourism in a country, is fortified by the
Government of the country interests in the area rise, as well. Foreign direct speculation is
discovered more in economies which are open and have fantastic development
possibilities.