Asia and Tourism - Coursework Example

Contextually, holiday and leisure activities have gained the utmost significance in recent times, which has further boosted the tourism domain to a different level altogether.The hospitality and the tourism industry is one of the fastest-growing industries in the world. The importance of the industry has increased considerably over the years where an increasing proportion of the population tends to depend on this particular sector. The industry broadly includes categories encompassing lodging, restaurants, theme parks, transportation, and cruise line facilities among others 4.

Its importance can also be considered with respect to the fact that the industry has major contributions to the world economy 5. Moreover, the industry also performs a key role in dealing with the aspect of unemployment all over the world by employing millions of people worldwide. In the contemporary context, the industry has undergone various noteworthy changes and its significance has reached a considerable level altogether 6. It is apparent that tourism and the hospitality industry have emerged as quite crucial for the development of an economy as a whole.

It is worth mentioning in this context that there are certain characteristics of this particular industry, which are observably unique and different from other industries up to a marginal extent 8. Some of the differing characteristics of this particular sector include the predominant nature of being a service industry although imbibing the characteristics of a product-oriented industry, the labor-intensive nature of this sector, and the aspect of seasonality among others 9. All these facets are crucial for businesses operating in this sector, with the purpose of devising their strategies for ensuring sustainability in operations 7 10.

In the context of the above-mentioned aspects, it is apparent that the tourism sector of the world has become quite important for the people in the domains of business, leisure, and other activities.