Pestle for contemporary issues - Essay Example

PESTLE: Hospitality Industry Hospitality industry is known for its potential and peculiarities. This industry is very much dependent on a range of factors like political, economic, socio-cultural, technological, legal and environmental. These factors are being briefly analysed here.Political: Hospitality industry requires cordial relations amongst people, nations and regions. If the political environment amongst two neighbours encourages friendly policies there’s bound to be increase in people to people contact, political understanding, business deals etc.

which directly or indirectly tends to have a positive effect on the hospitality sector. But if the political equations are like the ones’ prevailing amongst some of the nations in the Middle East or the gulf region, it adversely affects the hospitality sector. Similarly we must not forget the deep cut in hospitality industry in the aftermath of 9/11.Economic: Today we are in an era when the power of a nation is being assessed not by its military arsenal but by its economic strength instead.

Economic factors have forced many traditional rival nations to adopt friendly policies in order to have better economic exchanges. Such understanding leads to firming of business partnerships, furthering market friendly policies and encouraging visits of business tycoons. Business summits, seminars, expositions, meetings too augur well for the hospitality industry.Socio-cultural: If two nations have similar socio-cultural patterns, mutual understanding and cultural exchanges amongst the citizens, the hospitality industry will be happy to host a number of visitors from across the borders.

Similarly, if there are lots of cultural activities within the country, even then the hospitality industry benefits a lot. But if the society adopts some kind of preventive measures or the cultural heritage is not allowed to bloom, the hospitality industry is bound to suffer. Technological: Technology is indeed redefining the way we interact, we travel, we offer our services etc. Considering the good old days when there were no aeroplanes, ships used to take months to complete intercontinental journeys.

But today, supersonic jumbo-jets have reduced this travel to some hours. Similarly, the facilities that have been offered by the information technology have brought the world closer. Now one can plan of his visit to Beijing for the Olympic games, by sitting in his home in London. The hospitality industry of China will be happy to him during the game by making all arrangements well in time. Legal: The law of the land plays a crucial role in encouraging the hospitality industry. If the legal framework provides enough leverage to the hotels, resorts, swimming pools, sports clubs, golf courses, restaurants etc.

they can pass on the benefits to the visitors, which will result in increase in the number of visitors and related activities. But in case the legal system puts in place lots of checks and balances, then it might distract the industry as well as the visitor. Similarly support of legal system is required in facilitating the visits of foreigners to the country, which ultimately benefits the hospitality sector. Environmental: Relation of hospitality industry with environment is a two way relation.

It is true that if the environment is conducive, pollution levels are down, there’s lot of greenery, adventure sports etc then hospitality industry is bound to benefit. Similarly, it is also true that if the hospitality industry does not respect the sanctity of the environment, there are bound to be more pollutants in the air, the levels of greenery will be down which ultimately result in distracting the visitor and thus affecting the hospitality industry.