Essay About Determinants Of The Growth Of Hospitality Industry And Growth Of The Hospitality Industry

Determinants of the Growth of Hospitality Industry
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DETERMINANTS OF THE GROWTH OF HOSPITALITY INDUSTRY                              1.                                                                   AbstractThis paper revolves around four published books which explain the factors that have led to the growth of the hospitality industry to where it is today. It also depicts the co relation of this consumer industry with each factor discussed in this paper. According to Boella (2000), the hospitality industry is growing exponentially and contributes about 10 % of the global GDP.  The hospitality industry is growing at regional, national and global levels. In the last years, the hospitality industry has been undergoing a dynamic process of inflation. Wood and Brotherton (2008) also suggest that the hospitality industry is developing worldwide and its growth is evident in an ever changing multicultural facet.  The hospitality industry revolves around major factors that have influenced the nature and growth of the hospitality industry as it appears today. Without them, the hospitality industry as we know it today will cease to exist. Radical measures to improve on these factors should be implemented by focusing greatly on these factors discussed in this paper and many others not mentioned in this paper. This will ensure that this consumer industry continually experiences rapid advancement.            Keywords: growth of the hospitality industry       DETERMINANTS OF THE GROWTH OF HOSPITALITY INDUSTRY                                 2.                                                      Technological Change                 Tesone (2012) depicts technology as being a major driving force in all societies. Technological change is perhaps the most crucial factor in the growth of hospitality. He further suggests that the development of transportation links such as motorways, cars and jet travel as being the key player in the advancement of this industry. The television, which has played a key role in facilitating mass advertising, is also included. According to Knowles et al, the computer has likewise played an integral role in the growth of hospitality as it is deciphered to bring together all other developments. For instance, computers will be used by a travel agent and a consumer to plan for an upcoming trip.                                                              Social Change             The present day society is defined by consumption as compared to production. Most, if not all, aspects of contemporary life are the focal point of the hospitality industry including our encounters that we undertake on a daily basis and most relationships that we engage in.                                          The Mass Media            This is a vital factor to growth of the hospitality industry because through advertising, meanings are attached to commodities which are then perceived as key to happiness and success. The overall effect in the long run has enabled particular brands to associate themselves with goods and services. Studies have shown that there is power and advertising and mass media hence increasing popularity in the growth of this consumer industry.