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Economic is one of the major factor that give a big impacts toward Hospitality and Tourism(H&T) industry. Economic play a big role in all field of industry in the world especially h&t industry. This is because economical condition can affected such as values of money, demand in the industry, supplier in the industry and many more.
Inconstancy of the economies give such a big impacts towards the demand and supply either to globally or local areas. During the recession, demand and supply in the H&T industry decreased. It is because the money currency will falls and job opportunities will also decreased. So peoples are forced to cut an extra costs and focus more on their basic needs because of diminishing of money. When the economic conditions is healty, the demand in the H&T industry will be encouraging therefore the supply and demand will also encouraging globally. When the economic condition is healty, the money currency will raise and the employment opportunities will also increased. People will have more money to spend on traveling. At the same it can amplifying and developing our industry.
However, the world economy is back on track and the demand kept increasing day by day. The demand in the H&T industry is growing rapidly as people spend more to travelling. However, some local countries still have an economy inconstancy that might have a short term impacts toward H&T industry in their countries (Pratap.A, 2018).
The meeting in Copenhagen in 2009 was to discuss ways to avoid global warming (UKESSAY, 2015). As with other industries, this industry also faces problems. For example, they need to solve the problem for a eco-friendly business. Below is an environmental issue that impacts the tourism industry and needs to be resolved by the parties involved and is looking for long term solutions.
The problem of greenhouse gas emissions is a major apprehension for the industry. The aviation industry is working to solve this problem, by launching a new aircraft that uses a more quality engine to expose carbon emissions. Nevertheless, only a few airlines are capable of doing so, as some small airlines are unable to buy new aircraft.
Figure tourism, people can travel to unpredictable places by air transportation, as it makes travel costs much cheaper. This leads to the areas of environmental interest and the historic area to be overcrowded and ecosystem stresses also occur and it threatening the environment of flora and fauna. Climate change also give a enormous impact on this. Because tourists will not choose a destination that has an uncontrollable climate and a bad climate. And of course the area with good climate will be a tourist destination. The impact, the ecosystem in the area is very dangerous.
Subsequent is logging, there is still massive logging in some areas although this issue has been discussed around the world. This also causes tourist areas to be threatened by the destruction of flora and fauna. Afterward “go green” calls can affect the travel industry around the world. Because those in the industry will be depressed because they need to find ways to make a business that can be made and environmentally friendly and it is very complicated. For example, can the hotel industry build a more eco-friendly hotel?
Finally, human encroachment, such areas as protected national protected areas have been invaded by humans. And the quantity is increasing. It causes wild animals to look for villages to find their habitat. Indirectly, many of the residents about their livestock were killed by wild animals. This can also be attributed to why wild animals are considered a threat. And then the area will be considered an unsafe area to travel. So hunters, hunt wild animals and cause wild animals to look for other habitats to avoid the extinction of their species.
One of the hot topics discussed around the world is about environmental. Various companies have spent millions of dollars just producing eco-friendly products. For instance, electric cars are replaced with petrol cars.
Transportation play a big role in H&T industry. Transport can also attract tourists to travel to a good Countries, and there are some general agreements that the more developed the country and the better transportation system there will be many tourists coming. Whenever a State takes serious action in the transportation needs such as road renewal, stretch the road and increase the road. The sea and air transport systems are also ineffective because air transport has become a major tourist destination. Tourism development will continue to grow as transport elements continue to be practiced properly and government agencies should care about the importance of transportation for the development of the hospitality and tourism industry.
Hospitality and Tourism is one of the major industry in the world. Therefore many countries either in urban areas or ruraly areas will take an oppurtinities to gain more profit from our industry. Infact, many countries produce more transportation day by day to bring an external or internal tourist travelling from one place to one place.
When the transportation technologies growing rapidly, the infrastructure for the transportation will be more advanced and further promote the H&T industry to the external country. if observed at the statistic of the world tourism organization. We can see that the ratio of tourism is changing and rising rapidly between 2005 and 2015. In 2010 the arrival of international tourists has increased by 940 million. It caused world economic profit also increased up to 980 billions (M.Prince, 2016)
Technology is one of the strongest factors in the development of industry hospitality and tourism. Day by day, the technology sector being more advanced against various types aspects such an internet, mobile phones and laptop that we can bring anywhere and anytime. In the 2020’s, most people own a smartphones and use the internet in their daily routines. Internet has a huge network around the world. It help people to stay connect to their acquaintance, research some new things, buying somethings, and many more easily.
Internet advancement has give a great impact towards hospitality and tourism industry. this is because, there are many e-commerce applications that allow suppliers to promote their business. e-commerce applications are very popular among consumers and buyers. Among our well-known e-commerce apps in the industry are trivago, agoda, traveloka and more. Some companies of these applications are agents to hotels, aviation, public transport such as taxis.
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