Tourism industry Dissertation Example | Topics and Well Written Essays - 1250 words

Tourism industry - Dissertation Exampleare highly associated with the formation of strategies among the operate and touristry companies regarding the ever-changing demography on travel and touristry industry? 3. What are the assessments of companies regarding the potential impacts of changing demography associated with their strategic formulations inwardly the travel and touristry industry? 3. Literature review The following are preliminary results of survey of related literature. Competitive strategy Competitive strategy is everywhere especially in contemporary society where there is a need to implement strategic moves in order to respond to any significant changes. Like for example, in tourism and travel, organisations under this industry needs to substantially adapt to changes in the environment. According to Porter (1998), the formulation of rivalrous strategy is associated with understanding the current activity in spite of appearance the corresponding type of business, t he actual event happening in the business environment, and the assessment of potential activities that every business should be implementing. In other words, competitive strategy is highly influenced by the actual business environment. Tourism has emerged as one of the fastest developing economic activity across the globe (Fayos-Sola, 1996 Koutsouris & Gaki, 1998). The thoroughgoing objective of tourism has been recreation and relaxation to rejuvenate mind and body. In the changing times, while the basic concept has remained same, the modus operandi and mechanisms of providing customers with unique experience have changed. The changing demographic patterns of society are major elements of change that hugely influence consumer behaviour and have considerable impact on national economy and marketplace imperatives. Awareness and knowledge about demographic trends... Holloway (2002 205) says that the scope of providing new attractions to feed the insatiable appetite of the tourist is never ending. With advancing technology and change magnitude income, the age group of 18-35 years is endowed with more buying. Mathieson & Wall, (1989 39) have defined tourism as total number of persons who travel, or wish to travel, to use tourists facilities and go at places away from their places of work and residence. Tourism was hitherto an occasional family vacation which was self managed. But today the technology has redefined communication and transformed tourism into an industry that customizes experiences of its customers. Thus, lifestyle of GenX is not constrained by money and along with new gizmos, prefers new tourist destination which can satisfy their sense of adventure. Witt & Witt, (1995) draw a bead on that understanding consumer behaviour in tourism industry with regard to travel destination, special interest tours etc. have become major factors that must be identified and addressed. In the highly competitive environment, an in-depth analysis provides the indust ry with necessary information that can be exploited and customized to suit the changing preferences of the masses. The flexibility within the travel plans and the variety across the travel and recreation hugely facilitate in meeting the demands of the segmented market. In the tourism industry, technology plays very eventful role.