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Hospitality and Tourism Business - Essay Example
Pages 12 (3012 words)
The hospitality and the tourism industry is one of the fastest growing industries of the world. The importance of the industry has increased considerably over the years where an increasing proportion of population tends to depend on this particular sector…
Moreover, the industry also performs a key role in dealing with the aspect of unemployment all over the world by employing millions of people worldwide. In the contemporary context, the industry has undergone various noteworthy changes and its significance has reached a considerable level altogether (Barrows & Powers, 2008). It is apparent that the tourism and the hospitality industry have emerged as quite crucial with its presence being quite prominent all over the world. It is worth mentioning in this context that there are certain characteristics of this particular industry, which are observably unique and different from other industries upto a marginal extent. Some of the differing characteristics of this particular sector include its predominant nature of being a service industry although imbibing the characteristics of a product oriented industry as well, the labour intensive nature of this sector and the aspect of seasonality among others. All these facets are crucial for business operating in this sector, with the purpose of devising their strategies ensuring sustainability in their operations (Tesone, 2012). Contextually, the primary intention of the discussion henceforth will be to analyse the characteristics of this particular sector in detail and recommend strategies to the small business units operating in this particular sector. ...
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