TUI Group: Economic Impact and Growth of Tourism Sector Report

This report analyzes the TUI Group's influence on the travel and tourism industry, emphasizing its role in economic growth, market share, and customer satisfaction. It highlights the historical development of tourism, focusing on the period from the 16th century to the present, and the rise of London as a major tourist destination. The report discusses the impact of technological advancements and the importance of adapting to changing consumer preferences. It concludes by summarizing how TUI Group has contributed to the GDP, market share, and working capital of the country while continuously improving its services to meet the evolving needs of visitors.

Historical developments in the travel and tourism sector
The basic cause and consequence of the economic development of the country globally is travel and tourism sector which
help to raise the gross revenue and the foreign exchange earnings. In United Kingdom, London is the most popular place for
the tourist to be visited as it has many impressive destinations with rich and vibrant culture. The grand tours which were
facilitated by the British government between the late 16th and early 19th centuries gave rise to the new boundaries of tourism,
horizon of travel and tourism. During the industrial revolution period the demand of tourism raised rapidly and the
introduction of the new packages for the travel services in 1841, paid holiday benefits to the middle class and strain of
modern life created demands for the rest and recreation
. The contemporary world considered London as the city with
leading tourism with the trade component included in it (Hudson
and Thal, 2013). The merger of English tourism councils and the
British tourist authority as to visit Britain has conducted the
programs of preserving, maintaining and promoting eminent
historic places. London has always made an extensive use of new
technology and science for the industry to grow and help the
government to increase the economy of the nation. The
increasing competition will force the industry to use the database
in a sophisticated manner for the purpose of marketing and the
development with the awareness of cultural and environmental
context.
CONCLUSION
From the above report this can be summarised that the company TUI group has hiked in the
share of travel and tourism industry which helps in the increase of GDP, market share and
working capital of the country. The working area has been increased with advancement and
inculcation of the different components, also the group is continuously working on the
quality and the satisfaction level of the customers. The changing needs and preferences of
the visitors has brought transition in the supply by the organisation which has increased the
demand of tourism in the country.
The business of attracting the customers or visitors for accommodating and
entertaining by the various activities availed by the traveller is tourism. The
movement or travelling of the people for the purpose of meeting, events, family
trips etc. between two more countries by auto mobile, train, bus, boat, air plane
etc. is known as travel. Here the organisation taken is TUI group which the largest
leisure travel and tourism company in the world