The Hospitality Industry is a vast and wonderful world full of opportunities. India woke up to the significance of this industry a little later than other developed countries. But in today’s world, the Indian hospitality industry has emerged as one of the key industries driving the growth of the services sector in India. The fortunes of this industry are closely linked to the Tourism Industry. Tourism is a dynamic and highly competitive industry that is widely recognised as one of the world’s largest growth industries. It is rapidly evolving based on the needs and wants of the customers. Tourism covers a number of elements including transportation, accommodation, destination planning and hospitality.
As we have come to realise in this horrible era of Covid-19, absence of tourism is a huge loss to the hotel industry and the entire economy of the country, because, not surprisingly, tourism plays an important role in a country’s growth. Here are some ways hospitality tourism affects a country’s growth:
Develops trade business – Most tourists buy different local products and take them back home. This includes direct as well as indirect foreign investment which plays an important role in the trade development of the country.
More employment – With the growth of the hospitality/tourism industry, more employment is generated in a country. Several employment opportunities are offered by the tourism industry. These employment opportunities are related to different sectors that are related to the hospitality and tourism industry.
Infrastructure development – Most of the developing countries construct new highways, airports, hotels, lodges, restaurants, guesthouses and trekking routes to improve their hospitality tourism sector. These new developments are very important to attract more tourists.
Cultural development – Apart from the above-mentioned development, tourists are known for being an important way to exchange their culture and values. The hospitality tourism industry helps the local people to learn more about the different lifestyles and religions.
Generates revenue – The hospitality tourism industry in any country helps in generating more income for the locals. Tourists pay different taxes to the government which helps the country to develop. Tourists also help the local traders to earn extra revenue and profits by shopping.
While the outer shell looks pretty easy and glamorous, there are a lot of aspects to consider if you are working in this industry. The smallest of mistakes could cost you a lot and one good thing will earn you a lot of appreciation. That being said, the tourism industry is one of the best and fastest growing industries in the world. A lot of money has been invested in developing sustainable tourism, because a lot of other things are dependent on it, like the hotel industry. Consequently, these two are closely linked and an integral part of a country’s economy.
Let’s join hands in working towards a better, safer future… so that we may keep travelling and the world can move forward in a more prosperous direction.