Economic Impact on countries’ growth and Challenges in Travel

Tourism and Hospitality Industry.

Sidharth Shankar Raju , Dr. Pranav Parijat.

PhD Research Scholar, Department of Management Studies, Kalinga University
Assistant Professor , Department of Management Studies, Vivekananda Global University, Jaipur.

Abstract

Tourism and Hospitality industry is one of the main economic resources of growth for nations
with total contribution of 10% to Indian economy and 10.4% global GDP . Tourism will solely
flourish if the trade will use qualified employees, Good and peace work culture or property
hands that is that the heart for wonderful and prompt satisfied service delivery system. Thus, this
review created to provide summarized information concerning challenges, growth and
opportunities of Tourism and hospitality and cordial reception employment. Narrative review
was used wherever designated and connected articles, reports and studies of the subject are
compared and summarized. Tourism and cordial reception creates huge number of employment
opportunities in several sectors like accommodation, food and nutrient institutions, transportation
services, travel agencies, Safari, Airlines, Railways, tour operation companies, natural and
cultural attractions sites as well as own business The challenges are poor pay and working
conditions, sexual harassment, toxic work culture, discrimination, unequal treatment, low
education, Lack of training, undemocratic and rigid corporate culture, seasonality and political
instability which drastically reduce the number of visitors which in turn brings high employees’
turn over. Concerned stakeholders as well as, academicians, policy manufacturers and business
homeowners of tourism and hospitality and cordial reception shall take actions to bring property
hands for the event business and cordial reception sectors. Travel Tourism and hospitality is
world’s largestdeveloping economic sectors, Travel & Tourism creates jobs, drives exports, and
generates prosperity across the world. Most important thing is tourism business that this is the
business there less investment and more gain. Because tourism is the business where people gain
from the natural resources or earn through nature. The sector, comprised of a wide range of
industries, aims to serve and support domestic, international, business and leisure visitors.
Companies, large and small, industries ranging from accommodation and transportation to food
& beverage, retail and culture and sports & recreation, all strive to create products and services
that bring people together away from the home, support communities and celebrate the wonders
that our world can offers. In its annual analysis quantifying the global economic and employment
impact of Travel and tourism.

Tourism in around 190 countries and 25 regions, the World Travel &; Tourism Council’s and
World tourism organization research reveals that the sector accounted for 10.4% of global GDP
and 320 million jobs, or 10% of total employment in 2018-19. The division of overall spend is
firmly weighted towards the leisure business, which represented 79% of the total compared with
22% for business spend, and this sector accounted for 7% of total global exports and 27.5% of
total global service exports. Domestic tourism, which represented 71.2% of all tourism spending
in 2018-19 and had the strongest growth in developing countries, continues to support
opportunities by spreading development and regional economic benefits and building national
pride. The continued rise in the number of middle class households and the solid growth in
global consumer spending once again enabled the Travel ; Tourism sector’s growth to reach 4%,
outpacing the global economy for the last eighth consecutive year. The USA, China, Japan, and
also the kingdom were the highest 5 markets in 2018, collectively representing 47% of the global
Travel & Tourism GDP. Across the regions in 2018, Asia-Pacific remained a strong performer,
growing by 6.4%, but North Africa’s performance with 8.6% year on year growth is particularly
notable. This growth not only showcases the sector’s resilience and capacity to bounce back
from security purpose and current world scenario of terrorism thread, but also its ability to spread
its benefits widely across the world. In effect, Ethiopia, Macau, Maldives, Singapore Ecuador, St
Kitts and Nevis, Egypt and Turkey led the world for Travel & Tourism GDP growth in 2018.
This growth, in turn, enables job creation. Travel & Tourism, which already supports one in
every ten jobs on the planet, and has accounted for one in five of all jobs created across the world
over the past five years, is a jet engine of employment opportunities. Jobs in Travel & Tourism
particularly support women, youth and other, often marginalized groups of society. Factors
influencing the flow of travelers around the world, such as a destination’s attractiveness, Peace,
Nature , Security etc and its currency strength, will continue to affect traveler behavior in the
coming year. Undoubtedly, new developments will emerge alongside these existing factors. As
some nations look more and more inward, Travel becomes even a lot of essential as associate
engine of economic development and as a vehicle for sharing cultures and building mutual
affection.

Keywords: Employment; Challenges; Opportunities; Tourism and Hospitality, Job

Opportunities, Economic Growth.