In normal terms, tourism is travel either for pleasure or business. Tourism is of two types it may be international or domestic such as within the tourist’s country. Now a days, tourism is also a major source of income for many countries which affects both the economy such as the tourist’s country and the host country. As tourism from one country to another country brings large amount of income into a local economy in the form of payment of goods and services such as various types of expenses which includes hospitality services, entertainment venues and others. Not only has this, with development in the economies and technologies tourism also generates opportunities for employment in the service sector of the economy which are associated with tourism. Tourism never remains permanent; it is always observed during short-term movement of people. The tourism is significantly increasing with the surge in the work load on the people and changes in the heavy busy lifestyle. Therefore, the business of tourism will grow steadily in the coming years.
With the development in the lifestyle of people and increase in the disposable income the trend of tourism is growing over the few years. Moreover, for the sustainable business of tourism most of the key players made their sites on which dynamic packaging is allotted to the customers. According to the report analysis, ‘Tourism Deep Dive: Accommodation – Strategic Issues and Market Trends Affecting Accommodation’ suggests that some of the major companies are functioning in this sector with effective plans of tourism which includes Airbnb, Wyndham Hotels and Resorts, LLC Radisson Hotel Group (formerly Carlson Rezidor Hotel Group), Choice Hotels, International Whitbread, Starwood Hilton, Aloft Cupertino, Cendyn Experience Hotel, Data Vision Tech, Google, HomeAway, Homestay, Housetrip, Amazon and others. With all the leading players, the Airbnb dominate the significant growth in this industry. Moreover, tourism industry have direct impact on the economy including accommodation, transportation, entertainment and attractions.
With the development, modernization in the economy and significant change in the education system resulted in the benefits to the key players of the tourism from the various types of tourisms such as ecotourism, recession tourism, medical tourism, volunteer tourism, sustainable tourism, educational tourism, and others. Furthermore, in the recent trend the youngsters are willing to do the destination weddings which include the traveling of one place to another and which resulted into a significant sustainable tourism which will affect the economy along with environmental cultural, socio-cultural and economic cultural which has led to the significant growth in the tourism industry. In addition, with the vast changes in the educational system the educational tourism is also developed because of the growing popularity of learning and enhancing technical competency outside the classroom environment.
With the increase in the tourism the products and services related to tourism have been made available through intermediaries and buyers can easily get themselves directly treated from manufacture by visiting their official sites. Therefore, with increase in the demand of the products related to tourism and development in the economies will led to the growth in the tourism market. Hence, it is expected that in coming years the tourism industry will grow over the next decades.
To know more, click on the link below:
Ankur Gupta, Head Marketing & Communications