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A recent report shows that almost half of the big US hotel operators are losing money. The report has been prepared by an outside firm using hotel analytics applications. This analysis examines the impact of hotel expansion (using just the variables of adverse external societal and financial consequences, positive external societal and economic consequences, negative environmental ecological impacts, positive outside ecological influences and positive local/regional affects ). Although this report employs a rather modest sample size, the overall conclusion is that it concludes that enlarging a hotel may have a negative impact on the local economy.
There are two main questions presented in the study. The first question posed is why do we think that the hospitality industry could be impacted by a rise in hotel capacity? The next question is to what extent would such a rise have a negative impact on the business? The answers play a role in this analysis. The goal of this article is not to ascertain whether or not the resort sector will experience a pandemic of defaults, but to look at how these scales may change the landscape of the industry. If you have not previously done so, I encourage you to browse the whole Pandemic Preparedness article.
My goal in focusing on the Pandemic Preparedness post above is to suggest that a pandemic for tourism may occur in the next ten years or so. The reasons for this are three fold. Primarily, with the growing number of international tourists looking to visit the US, we'll be dealing with the influx of people with unique beliefs and nationalities. Second, the growing interest in travel abroad will also be a driver of a major change in the kinds of travelers visiting the US on an annual basis.
The third driver is a simple matter of economics. Historically, the EU has been a major investor in the promotion of European tourism and the US didn't take kindly to this investment. If the EU were to start charging fees to visitors coming in the US, we can see a drop in European tourist spending as much as twenty percent in the next five decades. Of course, this reduction of European investment would make a twenty percent reduction in overall spending from the united states, but when the US needed to continue to offer economic support for the EU, then they would probably be pleased to make this adjustment.
It's my belief that the first two drivers of the impending downturn in the European hotel market will happen concurrently. As unemployment rates rise in the United States and the European Union (EU), tourism and travel earnings will suffer together with unemployment. This can subsequently result in a reduction in the access to properties for purchase. As the supply exceeds demand, resorts across the EU will decrease their capability to house guests also will likely implement price increases to attempt and entice customers into staying another day.
For your US business travel industry, the first of both of these factors will happen simultaneously. The current international financial crisis and consequent downturn have resulted in countless millions of lost sales due to increased unemployment across the board. When the US economy doesn't pick up soon, the impact on the hotel industry will likely be felt in Europe too, specifically in the tourism sector.
광주op The next event that would occur is that the adoption of a new global shopping trend known as"fair trade." This expression describes a process in which items have been brought to market that are made with employee rights and individual dignity in your mind. As more European companies begin to implement this system globally, the need for hotel jobs must grow considerably in the next few decades. In the event the current European unemployment rate continues to grow at the present rate, it is also in my opinion probably that the European unemployment rate will rise to pre-pandemic levels at the end of the decade. Even if the European unemployment rate drops significantly greater than pre-pandemic levels, European resort jobs should grow as the remainder of the world experiences the identical dramatic changes in their own economy.
If you are a non-american trying to earn a career change into one of the hospitality businesses, it's important to recognize that the hospitality industry can and will see moderate to major change during the following two decades. The present recession in the usa job market has led to a lot of job loss and reduction in employee numbers at most large retailers. These merchants have recently declared major shop closures and a few have stated that they will be decreasing staff members or firing employees. So as to prevent such drastic actions by merchants, I think that you will need to make the most of the present financial conditions in your home country and apply to hospitality positions overseas.
