The Interconnection of Tourism and Business

Tourism globalization and business

The global economy has triggered a number of aspects in terms of globalization such as changes in liberation, competition, international trade, and various investment businesses. Globalization has opened the closed gates for tourism and business to grow in the international market through electronic technology and transportation available (Pavlović, N., 2017). Globalization has created a competency in business and in tourism in spite of their presence in many countries. It can be said that globalization in tourism or in any business goes hand in hand. Globalization has a close relationship with tourism or the establishment of any business. In many cases it has been seen that globalization generally proved to be a positive aspect for their business rather in very few cases it was a negative one. Moreover the development of business and tourism are being possible due to these globalization methods (Midiyanti, 2019). Globalization has a great contribution to the economic, political, and cultural terms for the tourism and different businesses available.

Identify key contemporary global issues and challenges

Globalization is an important aspect of the business and also for tourism. This globalization faces a great challenge and various issues regarding its implementation for the business.

There are following challenges for the globalization:

a. Environmental and resource security: The climatic changes are an impactful one for tourism to be introduced to the foreign market. Different climatic conditions provide challenges for the tourist to select the proper destination for them, thus globalization couldn't work in such conditions. Therefore, those tourists require mitigation in the business and tourism.

b. Violence and tourism: The terrorism or violence in the local market can be highly impactful for globalization and for the business to be initiated (Battistella, 2018). Therefore a challenge to the security and safety comes for, thus it is a challengeable for the business and tourism by globalization method.

c. International trade: International trade is sometimes a kind of loss to the business that is oriented by. Thus globalization in such a scenario cannot be a good aspect of international trade.

d. The corruption of government or such similar scenarios of bad economic conditions of the country couldn't lead to the growth of tourism and business. These could only lead to a negative impact on globalization methods to be initiated.

Globalization impact on Business environments and Tourism industry

Globalization and tourism are seen to be dependable on each other. Due to globalization only different information and innovative ideas can be easily demonstrated in tourism and other kinds of business. Due to economic issues, globalization can be impactful in both positively or negatively (Wisitpongphan, 2017). The political, economic, social, and interactive values can be easily gained by the help of globalization. Globalization is a term that can help in gaining a great market for the business. In tourism, the attraction of different tourists and people from different countries can only be gained with the help of this globalization. With the help of globalization the business can be grown in the international market but it depends on the business whether it has the ability to grow in the international market or not. Globalization can be beneficial in making a proper life in the city and for the residents tourists feel homely in selected tour places. Globalization is also effective in widening the gap between the powerful world tourism cities and in urban tourism cities (Song, 2018). Globalization positive and negative effects are seen in this part so that its impact on tourism can be seen.

Positive effect of globalization on tourism and business

Globalization has resulted in an increase in the usage of technology and also in the transportation of the people across the border. The development of these technologies has led to travel becoming easy and convenient so that tourism can become easy for the people. Globalization led to an enhanced travel industry and their business to grow and develop. Cultural changes and experience of new traditions are also gained for the business aspect by globalization only (Pellešová, P., 2020). A good exchange of communication can also be seen that can be helpful in enhancing tourism. Interaction among people is possible by this globalization and important changes as per the cultural needs are made probably here in this case easily. Mainly the attraction of tourists can be made possible with the help of his globalization and profit for the tourism business can be gained by this aspect easily. Cultural and political aspects are seen to be increasing between the different countries due to this globalization method available. A faster-growing behavior and welfare for the business are also gained easily by globalization only.

Following the positive aspect of globalization in tourism:

a. Globalization has a positive effect on multinational businesses as they are able to buy labor at low cost and cheaply (Zaitseva, 2016). The unemployed states or countries get a positive aspect of employing their labors due to globalization. The transfer of technology and tools from one country to another is possible due to this globalization aspect easily. Due to this globalization only knowledge is possible to be exchanged across the borders, that is beneficial for the business and tourism also.

b. Productivity, efficiency, and innovative ideas have increased in the global world today. A great asset to the local organization is being presented with the help of globalization. Various tourist advantages and attractions are present and people could have a better understanding of the culture and tradition of the selected place due to globalization.

c. A competitive advantage is also available in the business and tourism industry. Companies are able to generate innovative ideas due to this competitiveness in the organization. Entrepreneurs and newcomers are able to find jobs in foreign places due to this globalization and works in enhancing the business properly.

d. The gap between the rich and poor is being reduced by this globalization method. Most of the industries employ low-cost laborers and employers so that they can work in an ethical way instead of investing in highly paid workers. Foreign investment is being presented by globalization as it helps in bringing resources, capital, and technology for business and tourism (Garrod, 2017).

e. International trips help in enhancing the business and to grow in the global market. An increased circulation of information can be seen in business and tourism due to globalization only. Moreover globalization helps in enhancing tourism with the help of peaceful business and people's attraction to them.

Negative effect of globalization on tourism and business

a. Terrorism

Globalization added to an enhancement in terror activities. That also led to a fear in tourist minds regarding the politics and about the terror attacks that can take place in such areas. Globalization has made it easier for them to impersonate themself as tourists and create danger for tourism activities. Thus it can be said that tourism and many of the businesses are facing a feat impact due to terrorism that is encouraged by Globalization (Eee-conference.com, 2020).

b. Culture erosion

Due to globalization, cultures of various countries are losing while encouraging the business. In adapting foreign tourism and culture the self-culture is diminishing and also the tourism sector is facing problems due to this part.

c. The environmental impact can be seen in tourism due to globalization. In the transportation sector the temperature and climatic changes are highly affecting tourism. The business environment can also be affected by this globalization (Torontosom.ca, 2020).

d. The environmental impact can be seen in tourism due to globalization. In the transportation sector the temperature and climatic changes are highly affecting tourism. The business environment can also be affected by this globalization (Torontosom.ca, 2020).

e. The insecurity of a job can be seen easily. Due to globalization the laborers can be hired easily by the companies and thus the existing employer in existing business seems to be facing a lot of difficulties in their business and work. The production and buying of goods at low prices can be seen possibly affecting the market values and business aspect. Due to competition fluctuation in prices can be easily seen in the business. The international trade and buy can also be facing a lot of fluctuation that can be affecting the business and marketing value.

f. Due to globalization only the small markets and business are losing their value in the business, rather the shopping malls and big business are taking their place. Many times a large number of people do move out and the migration can be seen to be affecting the local business as well as the local employers in the business. Thus leads to unemployment in the local business and creates a lack of employers in the market (Thriveglobal.com, 2020).

Recognizing the impact of globalization

Globalization's positive as well as negative impact on the business and tourism are seen to be available in this case easily. From a simple point of view, it can be said that even globalization has negatives but still its positive aspects are an important one to be looked at thoroughly. It can be said that globalization has a good and positive impact on business and tourism. The most important aspect of globalization is employment that is being provided to the low earning laborers those are unable to be earning in the local market. Thus they have a good opportunity for getting employment in foreign countries and even big companies do hire them because they have the same skills as compared to the highly paid employers. Globalization helps in innovative and knowledgeable ideas regarding the business. In tourism the people can be attracted to the business by promotion and introduction to the global market. Enhancing the business can be easily gained by the help of this globalization method easily. The audience must understand that globalization must be encouraged so that business can be enhanced easily and can gain a good aspect in the foreign market. Thus instead of a few negativities the business has various positive aspects for the business and tourism (Semanticscholar.org, 2019).

Conclusion

Thus it can be concluded that globalization has opened gates for business and tourism to grow in the international fields. But it must also be seen that there are some negativities related to globalization that led to the downfall of business and tourism in international market. Globalization issues and problems related to globalization are being discussed in this paper clearly. Positive and negative aspect of globalization on business and tourism are also being discussed in this paper so that proper message can be sent to readers about it an impact on these industries. Finally the impact of this globalization is to be discussed so that a number of people can be attracted to its value.

Reference list

Pavlović, N., 2017, June. The impact of globalization on trends in tourism. In TISC-Tourism International Scientific Conference Vrnjačka Banja (Vol. 2, No. 2, pp. 556-573).

Midiyanti, R., and Yao, M.H., 2019. The Dynamic Relationship between Globalization and Economic Growth: Its Implication on Business Policy. International Journal of Applied Business Research, 1(02), pp.100-111.

Battistella, C., Cagnina, M.R., Cicero, L. and Preghenella, N., 2018. Sustainable business models of SMEs: Challenges in yacht tourism sector. Sustainability, 10(10), p.3437.

Wisitpongphan, N. and Khampachua, T., 2017, June. Impact of Globalization on Interoperability in Digital Government. In The Proceedings of 17th European Conference on Digital Government ECDG 2017 (p. 254).

Pellešová, P., 2020. Globalization and perception of tourism trends by supply and demand. In SHS Web of Conferences (Vol. 74, p. 04019). EDP Sciences.

Zaitseva, N.A., Larionova, A.A., Yumatov, K.V., Korsunova, N.M. and Dmitrieva, N.V., 2016. Assessment of the Impact of Globalization on the Introduction of Innovative Technology Companies in the Hospitality Industry. International Journal of Environmental and Science Education, 11(14), pp.7176-7185.

Garrod, B. and Fyall, A., 2017. Collaborative destination marketing at the local level: Benefits bundling and the changing role of the local tourism association. Current Issues in Tourism, 20(7), pp.668-690.