Current Trends Tourism and Hospitality

Question: Discuss about the Current Trends Tourism and Hospitality. Answer: Introduction The current essay revolves around the discussion on the current trends, predictions and the employment opportunities for the tourism sector in Bangladesh. It is observed that country that has effective opportunities for tourism, the improvisation of the sector largely contribute to the economic growth and employment opportunities of the country. Bangladesh is considered as the full of natural beauty. It is the observed that river, coats, beaches and archaeological sites, hills, forests and the tea garden altogether make Bangladesh is one of the attractive places to visit, which is also an effective opportunity for the organizations in the sector in the country. The purpose of the essay to identify the current trends, growth opportunities those contribute to the development of Bangladesh. The essay introduces as well as discuss about Bangladesh from the perspective of the tourism, hospitality and events. The essay also highlights the current trends that are emerging in the tourism and hospitality industry. Bangladesh is a country of picturesque beauty; there is no doubt that the land is sanctified with the natural beauty that draws the tourists. The country is proud of its striking heritage and historical relics. In order to utilize the natural gifts effectively, the country has paid the attention to the development of the sector. The country has urbanized the amenities of modern hotels, motels, rest houses, youth inns as well as restaurant and effective mode of communication that should be available at all tourist attraction. Presently, for the globalization facility the scope of tourism industry is developing. This could also be an effective way of generating sustainable GDP for the country for Bangladesh. It is further observed that the contribution of travel and the tourism to Gross Domestic Product is predicted to remain the same at 5.5% in 2016-2017 and GDP growth for this sector could remain around 5.78% as per the current situation (Rahman 2014). On the contrary, the earnings f rom the international visitors as well as tourism products are anticipated to generate around 5.89% in the coming years. As commented by Wang et al. (2014), tourism is a journey for amusement, leisure and family business particularly for a constrained duration. The tourism could be domestic or intercontinental. While focusing on the trends, predictions and industry growth of tourism in Bangladesh, some significant impact have also been analyzed. The current tourism sector of Bangladesh indicates that employment or the jobs are often seasonal as well as poorly paid. However, the tourism could thrust up domestic property values and the expense of the products and amenities. As stated by Rahman (2014), Bangladesh is highly populated country; the industry could be negatively affected. For example, the behavior of the tourists could create an unfavorable influence on the condition of life of the host society. In addition, the hording, congestion, alcohol and drugs troubles could arise that could be problematic for the visitors. This occurrence will strongly affect the tourism sector in the form of poor growth and employment opportunities. When focusing on the tourism location in Bangladesh some of the places that are found to be attractive are such as Jaflong, Ratargul, Madhabkunda waterfall, Lawacherra Rain Forest, Port Area, Parki Beach, Himachori and many more. In Bangladesh, the government has controlled the tourism organization. Throughout 2010-2012, the overall profits were 23.41lac taka that has persistently increased to 612.33 Lac. The number of tourists visited to Bangladesh during 2010 to 2014 is given in the following chart. It is identified that inbound tourism severely falls to 267,107 in 2015 (Jafari and Scott 2014). This happens because of the global financial recession. It is further observed that the inbound tourism has improved to 301, 389 in 2014 have increased to 412,193 in 2015. Fiscal Year Total Income Total Expenditure Profit before tax 2008-2009 2599.50 3798.35 190.76 2009-2011 4592.88 4612.98 23.45 2011-2013 5877.71 5812.54 107.50 2013-2015 7198.31 6598.00 298.01 Table 1: Income from the tourism and hospitality sector (Source: Jafari and Scott 2014) As per the report provided by World Travel and Tourism Council (2015), the total contribution as well as tourism was around 4.5% of GDP in 2014 and which is anticipated to increase to 7.9% of GDP in 2015 (Mohammed, Guillet and Law 2015). Apart from the economic growth, when it comes to employment in the tourism sector, it is observed that the tourism and hospitality sector in Bangladesh created 1328500 jobs in 2014 and the forecast is supposed to be increased by 4% in the coming years (Liu et al. 2014). However, in 2012, the overall contribution of Travel and Hospitality to employment was 3.9%. This comprises of employment by hotels, airlines, travel managers as well as other traveler transportation services. While focusing on the current trends of tourism and hospitality industry, it is observed that organizations in this sector have become more concerned about the trends and innovation in the service. Based on the increasing demand, ten more five star hotels in Dhaka, Chittagong are going to be established in Bangladesh. The sector also observed the demand of the services due to the increasing number of foreign businesspersons, which is united with hosting of international sports affairs. Moreover, the sources also indicate that six international hospitality chains are putting in approximately US$ 1.0 billion to build 10 fresh five star hotels in Dhaka by 2017. The economic impact on the tourism sector in Bangladesh varies as the tourism activities in sales, income and employment in the regions. As opined by Wang et al. (2015), the total economic impact is based on the sum of all direct, indirect and the induced effect. On the contrary, technological impact of is also considerable in the tourism sector as Bangladesh has increasingly been relied on the technology. The growing economy in Bangladesh has developed path for adopting technology in tourism sector. For example, the organizations in tourism and hospitality industry have developed the websites where they provide all details regarding the services and packages. The tourisms from any country check out the information and select the deals. In addition, the social media such as Facebook, Twitter is the great platform tourism sector for promoting the services. On the completion of the essay, it can be mentioned that the tourism policies in Bangladesh should be developed compared to the global tourism market. In addition, the tourism areas and the associated firms need to be operated by the private sector. Furthermore, infrastructure around the hospitality and tourism sector needs to be well constructed and preserved. The rail connection linking Cozs bazaar as well as Chittagong needs to be developed. Reference list: Jafari, J. and Scott, N., 2014. Muslim world and its tourisms.Annals of Tourism Research,44, pp.1-19. Liu, W., Guillet, B.D., Xiao, Q. and Law, R., 2014. Globalization or localization of consumer preferences: The case of hotel room booking.Tourism Management,41, pp.148-157. Mohammed, I., Guillet, B.D. and Law, R., 2015. The contributions of economics to hospitality literature: A content analysis of hospitality and tourism journals.International Journal of Hospitality Management,44, pp.99-110. Rahman, M., 2014.Trade benefits for least developed countries: The Bangladesh case market access initiatives, limitations and policy recommendations. UN. Wang, L., Law, R., Hung, K. and Guillet, B.D., 2014. Consumer trust in tourism and hospitality: A review of the literature.Journal of Hospitality and Tourism Management,21, pp.1-9. Wang, L., Law, R., Guillet, B.D., Hung, K. and Fong, D.K.C., 2015. Impact of hotel website quality on online booking intentions: eTrust as a mediator.International Journal of Hospitality Management,47, pp.108-115.