The economic importance of hospitality industry tourism essay

Medical Biology Course content The conventional way of looking at Medicine is through the diagnosis of illness and the prescription of drugs.

The economic importance of hospitality industry tourism essay

Accordingly, a maximum of 30 per cent of the foreign tourists visiting India come from Western Europe. Its neighbouring Eastern Europe has an insignificant contribution of 2 per cent tourists only. South Asian countries have a geographical advantage of being in close proximity to India and consequently this region contributes about one-fourth of the total foreign tourist arrival in India.

About 19 per cent of the total foreign that the market is growing at an average annual rate of about 30 per cent and medical tourism is easily the next big business in India after Information Technology IT revolution.

The economic importance of hospitality industry tourism essay

Byif medical tourism were to reach 25 per cent of the revenues of private up-market players, then upto Rs. Domestic tourism is an important segment of the overall tourist scenario although no reliable data are available in this regard.

It is relatively easy to keep record of foreign tourists as they are registered at entry points like international airports which are not possible in case of domestic tourists. It may be emphasised here that domestic tourism is no less pronounced than the foreign tourism.

In fact, domestic tourists far outnumber foreign tourists.

Tourism industry

This is by far the largest segment of market with a potential of 20 crore local tourists travelling annually. It is domestic tourism which fosters a sense of unity in the otherwise diverse environment of the country and contributes to national integration. Even if 10 per cent of the population travels outside the native state, it involves a massive movement of over 10 crore people who develop the feeling that they are travelling within their own country.

Domestic tourism has increased considerably during the last couple of decades. The improved economy and greater exposure through mass media have developed increasing awareness among the people about tourism; a new dimension to their life style.

Larger income, longer holidays coupled with certain incentives given by public and private organisations to their workers, have contributed a lot in infusing interest among the hitherto stay-at-home people to look around for a place for an annual or biannual visit with family members.

Employment Opportunities in Tourism: Tourism in India has vast employment potential, much of which still awaits exploitation. At present about This is about 5. Byit would provide 25 million jobs. In addition, the industry provides indirect employment to about 40 million persons.

Further, it is interesting to note that the employment generation in proportion to investment is very high in tourist industry. According to one estimate, an investment of Rs. The ratio further increases if one takes into account the ancillary services associated with hotels and restaurants.

Another important aspect of employment in tourism is that it employs a large number of women, educated and uneducated, as well as skilled and unskilled.

In fact, women are greater in number than men in hotels, airline services, travel agencies, handicraft making and cultural activities, etc.

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Tourism is a labour-intensive industry and is likely to offer more jobs in the coming years. And since most of the natural beauty and wildlife are to be found in non-urban areas, rural people could find employment as guides and transporters; with proper training. More jobs in rural areas would also help reduce continuous migration of people to towns.

The hotel sector forms the key segment of tourism industry. Most of the foreign exchange earned by tourist industry is accounted for by hotel segment. Realising the importance of hotel segment, the Government has taken initiatives to encourage hotel industry by providing tax benefits and other incentives.The Travel and Tourism industry is still one of the largest single businesses in world commerce and its importance is widely recognized.

The tourism industry is now one of the largest sectors earning foreign exchange. In the face of many benefits, many countries have started assigning due weight age. • The development of the hospitality and tourism industry, the difference between travellers and tourists, provision of food and accommodation away from home • The development of hotels and the relationship with the improvements in travel, from the advent of the railways through air travel, cruise liners and the importance of road travel.

An exploration of the nature and history of capitalism. Global capitalism, colonies and Third-World economic realities. Published: Mon, 5 Dec The hospitality industry is growing very rapidly and contributing nearly 10 % of the world’s GDP (Boella, ).

In the last decades the hospitality industry has got much importance of vigorous process of expansion.

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A PESTLE Analysis of the UK Hospitality Industry - In this essay I will be discussing and critically analysing each element of the PESTLE analysis within the hospitality industry, with examples to reflect each point.

Many students find essay writing to be an especially daunting task. Depending on the essay topic, research can take anywhere from a few hours to several days and the writing task itself cannot be done in a few minutes.

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