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Bussiness - Essay Example

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According to the report of Ernst and Young, a highly reputed business advisory firm, the global hospitality industry remains as one the leading profit generators not only for private but also for public entities as well. Providing leisure, entertainment and accommodation remains a lucrative investment with outlook remaining positive according to the latest hospitality industry trends…
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Download file to see previous pages According to the China National Tourism Office (2007b), statistics show that China has one of the biggest inbound markets in Asia constituting almost 34 % of theregion's total tourist arrivals. Over the next decade, China will become the second largest travel and tourism industry inthe world, after the United States. The China tourism sector is expected to further improve as it continues to receive renewed support with relaxation of government regulation (CNTOa, 2007). China's emerging market is now seeing rapid developments as major international hotel companies are pushing to establish strong footholds in the region. Many top of the line hotel chains are already being constructed in preparation for the Beijing Olympics in 2008. (Zhang et al, 2005).
Major foreign investments are pouring in every sector aside from tourism contributing to higher government revenues that provides further initiative and funds to develop and promote the rich cultural heritage of the country. China can now afford to set and meet higher standards in accommodation and other support systems. Indeed, it has developed from offering substandard services to one that is truly remarkable.
The aim of this paper is to analyze the developments in hospitality industry in China...
I will also be providing details on the projects and initiatives, how they were implemented, who implemented them and provide a report on the current status of the project whenever possible.
2.0 On the Road to Success: China's Initiatives for the Hospitality Industry
2.1 10th Five-Year Plan Tourism Development Program
The year 2000 saw a complete fulfillment of drawing up the Tourism Development Program for the 10th Five-Year Plan. Based on the work done in 1999, two forums on mapping out the Tourism Development Program for the 10th Five-Year Plan were respectively held in Nanjing and Harbin between January and February in 2000. The Nanjing Forum was attended by representatives from tourist departments in southeast China, while the Harbin Forum was attended by representatives from North China. By October 2000, the "China Tourism Development Program for the 10th Five-Year Plan and the Program Outline by the Years 2015 and 2020" had been already worked out. It reviews the achievements made in tourism industry and experiences gained in its development during the Ninth Five-Year Plan period, outlines the tourist development targets and major projects during the 10th Five-Year Plan, and systematically puts forward important strategic ideologies for realizing the grand blueprint. It is program of action which will guide China's tourism industry to make bigger development in the new century. (Wen and Tisdell, 2001)

2.2 Professional Management in Tourism Planning
In line with the renewed efforts for the development of the hospitality sector, more efforts were made to strengthen professional management of tourism planning, accelerate the process of legislation construction in tourism planning, and give more technological and policy guidance on local tourism ...Download file to see next pagesRead More
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