The Competitiveness Of The Hospitality Industry In The Context Of Globalization

3896 words - 16 pages

The age of globalization has brought about changes in most industries and activities around the world. We are now living in a borderless world where the impact of physical borders has been reduced and where interactions among different nations have become more open and less restrictive. It is a fact that the hospitality industry has not been spared by the impact of globalization either. In fact, for the most part, the hospitality industry has benefitted much from this age of globalization. The restrictions which physical borders and distance has posed in the past are no longer a significant barrier because the internet has made the globe smaller by making it possible to virtually access many tourist sites and consider their prospects. The advancements in information technology have made it more convenient for hotels, restaurants, and the hospitality industry to gain access to a wider audience and a wider consumer base. With these considerations, this paper shall critically evaluate the competitiveness of the international hospitality industry in the context of globalization. A discussion on the globalization drivers shall first be laid out followed by a discussion on the following aspects: the impact of globalization, impact of transnational companies and multinational companies and deregulation, impact of globalization on SMEs, taxation and economic leakage, inequality in globalization, the advantages and the setbacks and the future of the hospitality industry followed by the conclusion.
Firstly, this essay would consider some authors’ attitudes towards globalization. (Weiss, 1998) states that ‘globalization is a big idea resting on slim foundations’ while (Hirst and Thomson, 1996) argue that ‘globalization is a myth suitable for a world without illusions but it is also one that robs us of hope’. The message what the authors are trying to convey is that globalization was a dominant concept and is a dominant factor at date but there are many drawbacks to it as well, along with its positive results which would be discussed in detail in the rest of this essay. (Hall, 1992) says that ‘globalization is a concept that seeks to encapsulate processes operating on a global scale; it refers to the ever tightening network of connections which cut across national boundaries, integrating communities in new space time combinations’, hence the main themes which could be highlighted in this message could be the rising power of multinational companies trying to make a global consumer market with the flow of financial capital and cultural values across borders thus making the world accessible with improved communication facilities and state of the art transport and also the interconnections of societies in different parts of the world with an awareness of the possible implications brought across by the arrival of global business brands in their country (George, 2002).
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