Global Tourism Industry Analysis

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The size, nature of the global tourism and hospitality industry. Due to the easy availability and affordability of transport and lodging, the tourism industry shows no sign of slowing down even in the terms of crisis. Government and private sector businesses also played vital role encouraging the rapid growth of travel and tourism industry, whereas all the addressed needs for travelers was recognized and have been accomplished. 2015 is proved to be another on-going successful year for the tourism and travel industry, being the most influential income generating industry. According to the WTTC report, during 2015, the industry's contribution to global GDP is forecasted to grow by 3.7% and employment by 2.6%. This demonstrates the sector's enduring…show more content…
International Air Transport association (IATA) is an important trade federation of airlines, created over 60 years ago by a group of airlines. Today, IATA constitutes of total 240 members, which is 84% of the scheduled international air traffic. The organization also represents immense range of services related to finance, security, operations, strategic management, safety and so forth. United Nations World Tourism Organization (UNWTO) is the avant-garde in the tourism and hospitality industry, responsible for the promotion of responsible, sustainable and universally accessible tourism. As a leading international organization in the field of tourism, UNWTO has 156 member countries under its flagship and more than 450 affiliate members represented. UNWTO offers leadership and support to the sector in advancing knowledge and tourism policies (Global Code of Ethics for Tourism), which would contribute to minimizing the possible negative impacts created from traveling and tourism industry. Grading…show more content…
This industry has been the subject of important development over past decades, although it has faced different challenges such as the World War, the industrial revolution, great depression and other social changes. Today, the tourism and hospitality industry is one of the world’s major economic division. According to the one of the publication (Casson 1974 P.32), the history Tourism and hospitality industry’s history was described as ‘When time began so did tourism.’ This reference permits further indication to history of tourism and hospitality

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