Essay About Tourism Industry And Pest Analysis

Pest Analysis for a Company in the Tourism Industry :
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PEST Analysis for a Company in the Tourism Industry
The Tourism industry is one of the fastest growing industries in the
world. The World Travel and Tourism Council estimates that in 2004
Travel and tourism is expected to generate
* US$ 5,490.4 billion of economic activity
* 10.4% of total GDP
* 214,697,000 jobs or 8.1% of total employment
* 12.2% of total exports [1]
My task is to conduct a PEST analysis for a company within the Tourism
industry.
Within the tourism industry, I have to select one area of interest
like transportation, accommodation and transportation etc. and then
one company doing business with these sectors related with the
tourism.
According to Leiper ?Transportation is the only link between the
tourist-generating region and destination region?[2]So, transportation
was a more interesting sector to discuss in the report but I tried to
find a company which is related with all these main sub-sectors
discussed above in the report.
I have decided to look in the U.K market for such company because
?Tourism is one of the largest industries in U.K, worth approximately
75.9 Ј Billion to the U.K economy in 2002 and supporting around 2.1
million jobs.? [3]
During my research on internet I found many companies offering
services in the tourism of U.K but I have decided to choose ?Simply
Travel? because of its variety of services offering related with the
accommodation, transportation and attractions.
1.2 Problem Formulation
In the problem formulation part of my report I would describe the
overall situation of the U.K Tourism industry. The service concept of
?Simply Travel? will give us information about the services provided
by the company. I will find out about the customers, competitors of
the company. I will find out what political, economical, social and
technological factors affecting the company and its demand situation.
1.3 Limitations
The biggest limitation for writing this report is time and the pages
to write. It is a broad topic and it could be better presented if
available more time and space to write about, but still I have tried
to highlight some main points raised during my finding. My knowledge
about the company ?Simply Travel? is internet-based and I could not
able to contact the company for further information. Due to the lack
of information about the company I will only describe one component of
the Service Management System. I will be describing only the OT part
of the SWOT analysis.
1.4 Methodology
Being inspired from the Service Management System I will describe the
service concept of the company .I will conduct a P.E.S.T analysis to
find out the political, economical, social and Technological factors
affecting the company. From SWOT analysis, I was conducting OT
analysis to find opportunities for the ?Simply travel? in future.
1.5 Data
I will use Secondary data collected from different industry