A critical evaluation of one aspect of contemporary hospitality management - Essay Example

These trends have eventually emerged over the period of six decades where the hospitality industry not only expanded but has also seen immense diversification where it is now a booming economic sector (Jones & Pizam 1993 p. 34). Also, with time, the international hospitality industry is shifting away from the traditional vacationing space and vacuum, towards a more integrated approach to encompass various aspects of hospitality management. Also, with globalization and media exposure, people are more interested in exploring Asian cultural and values predicated by developing states which has further paved way for progress in the hospitality management techniques globally.

In addition, where other sectors have also been impacted by global depression and economic shocks, global hospitality industry has only reflected growth pattern where around 25 million people showed interest in travelling in the 1950`s while recent trends show that around 1,035 million people undertook foreign trips in the year 2012 alone. This explains how the trends have been changed drastically in favor of hospitality industry and thus, investors should definitely make a mark on this shift and funnel resources toward this trend (Bremmer 2013 p. 3). Furthermore, an estimate indicated that out of the foreign travelers, around half of the percentage comprised of those who were travelling for holidays, some kind of leisure activities or recreational activities.

Also, around 14% of these tourists reported to have travelled for business transaction purposes, while around 27% of these tourists reportedly travelled for VFR purposes (for visiting their friends or relatives) (Tata 2009, p. 1437-1440). Therefore, the industry shifts should also tilt accordingly, where investors should focus on developing spots aimed at enhancing vacationing experiences of these