Tourism Industry Insights: Growth, Risks & Investment Analysis
3.438 Words / ~10 pages Lausanne
The tourism industry encompasses a wide range of market segments with a large scope of motivations and needs. Within the tourism industry, the hospitality sector includes all businesses that provide food, beverages, or accommodation services. This can be broken down more specifically into hotels, the restaurant industry both commercial and institutional, the casino business, and the cruise industry. Companies in the hospitality industry can gain advantages by being in a prime or unique location, through the amenities offered and the theme of the organization (i.e. theme restaurant), and finally by initial and ongoing investment support. In 2010, the tourism industry’s contribution to GDP was 9.2%, with 0.5% real GDP growth. There was also an 8.1% contribution to total employment (Fresnel, 2011). These numbers…[show more]