Role of Innovation - Research Paper Example

Hence, the study is aimed at assessing the role of innovation in increasing the profitability level of the travel and tourism industry in the UAE. In relation to this study, data would be collected with the help of accessing primary sources by the conduct of a questionnaire survey and secondary sources comprising books and journals among others. Moreover, findings would be analyzed with the help of the qualitative analysis tool of regression, which would be helpful to arrive at definite outcomes. In this globalization and technology-driven era, the national economy of several countries is developing rapidly.

With this concern, it is to be affirmed that the advent of globalization has certainly enhanced the travel and tourism industry in the global domain (Decelle, 2004). Thus, it can be inferred that after the imposition of globalization, the aforesaid industry has certainly become one of the most vital pillars of the economic development of the nations. There lay several countries whose economy mainly relies upon the travel and tourism industry. In this regard, United Arab Emirates (UAE) is recognized to be one of the most popular countries wherein such industry plays a decisive part in developing its economic position as per the desired level (OECD, 2006).

With this concern, the research paper intends to analyze the role of innovation in increasing the profitability level of the UAE's travel and tourism industry. While analyzing the above-stated subject matter of the study, an attempt has been made to establish the relationship persisting amid innovation and profitability of the industry within the nation. The economic and social conditions of the UAE are undergoing huge transformations over the past few years. The strong economy of this nation is highly dependent upon two different sectors such as oil and the Tourism industry.

The ninth question gave an understanding of whether innovation can play an important role in enhancing the profitability level of the travel and tourism industry in the UAE. The scale was designed based on the independent variable of innovation and the dependent variable of profitability. The scale was located at ‘B’ since a majority of the respondents i.e. 35% of the total 100 respondents agreed and/or strongly agreed with the role of innovation in highlighting the growth of profitability level in the travel and tourism industry in UAE.