Travel, Hospitality & Aviation Sector: Overview

Tourism as an industry has been traveling with the wild pace of technological advancements and aboard are people from different places and cultures interacting with increasing ease .Since, the globe had been shrunk into a village.

Unlike our predecessors, we can affordably and in a shorter time travel across the world in large numbers comparatively safe. Tourism being one of the biggest and fastest growing industries globally, its benefits and the challenges, keenly observed by governments affects the economic, socio-cultural, environmental and educational resources of nations.

The hospitality industry is much broader than most other industries. The majority of business niches are composed of only a handful of different businesses, but this industry applies to nearly any company that is focused on customer satisfaction and meeting leisurely needs rather than basic ones. While this industry is very broad, there are some defining aspects that are important to understand.

One of the most defining aspects of this industry is that it focuses on customer satisfaction. While this is true of nearly every business, this industry relies entirely on customers’ being happy. This is because these businesses are based on providing luxury services. Very few hospitality businesses provide a basic service that people need, like food or accommodation.

Another defining aspect of this industry is its reliance on disposable income and leisure time. For this reason, the majority of these businesses are for tourists or rich patrons. If disposable income decreases due to a slump or recession, then these are often the first businesses to suffer because customers won’t have the extra money to enjoy their services.

Transport is another essential element of tourism, providing the vital link between the tourist generating areas and destinations. Good accessibility, which is determined by the transport services provided, is a fundamental condition for the development of any tourist destination. Moreover, the transport industry can be a major beneficiary of tourism because of the additional passenger demand that may be generated. Aviation is an increasingly important mode of transport for tourism markets. 

Whilst geography has meant that, in modern times, air travel has always been the dominant mode for long distance travel and much international tourism, moves towards deregulation, and in particular the emergence of the low cost carrier sector, have also increased aviation's significance for short and medium haul tourism trips.

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