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Critically Evaluate the Competitiveness of the International Hospitality Industry in the Context of Globalization. - Essay Example
Author : margarettanikol
Pages 7 (1757 words)
Critically evaluate the competitiveness of the international hospitality industry in the context of globalization Introduction The age of globalization has brought about changes in most industries and activities around the world. We are now living in a borderless world where the impact of physical borders has been reduced and where interactions among different nations have become more open and less restrictive…
The advancements in information technology have made it more convenient for hotels, restaurants, and the hospitality industry to gain access to a wider audience and a wider consumer base. With these considerations, this paper shall critically evaluate the competitiveness of the international hospitality industry in the context of globalization. A discussion on the globalization drivers shall first be laid out followed by a discussion on the following aspects: the impact of globalization, impact of transnational companies and multinational companies and deregulation, impact of globalization on SMEs, taxation and economic leakage, inequality in globalization, and the future of the hospitality industry. Body Globalization drivers The competitiveness of the international hospitality industry in the context of globalization is impacted by different factors. One of these factors includes the globalization drivers, which are mainly, cost, market, government, and competitive drivers. Market drivers for globalization are very much based on common customer needs, and are also based on global market channels and global customers (University of Kentucky, n.d). ...