Review of a Dynamic and Changing Industry

Prepare and submit a paper on a review of a dynamic and changing industry. It is without question that the tourism industry throughout the globe has remained relatively resilient. Whereas economies around the globe have cut back their levels of growth and expectation for subsequent and future fiscal years/quarters, the tourism industry around the globe continues to exhibit steady and strong growth in excess of 3% and almost each and every market that has been analyzed. Within this understanding, many scholars and economic forecasters appointed to the fact that this particular service industry stands a great chance of monumental growth and development within the next decade. However, like many economic forecasts, the overall level of belief that can be attributed to this must be somewhat abated. As with any form of investment with potential future returns, many individuals have sought to integrate with the tourism market as a means of engaging in perspective profits within the very near future. Even further simplifying this equation, many onlookers to the growth and development of the tourism industry have pointed to the fact that tourism development is essentially nothing more than deciding what to build and where. Although this is of course a bold and overly simplistic statement with regards to the way in which an entire industry will grow and develop within the coming years, there is a certain degree of reliability and truth to the aforementioned statement that has been referenced. As a means of understanding the way in which this statement both applies and does not apply to the world in which we live, the following analysis will be concentric upon discussing the ways through which the tourism industry accommodates and does not accommodate such a simplistic oversimplification of planning for future profitability. Therefore, it is the hope of this author that such analysis will bring a further level of understanding with respect to the way in which the industry should develop and the actionable decisions.

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