Hospitality Industry: How Much Has It Developed11th June 2017
The recent few years have witnessed a boom in the tourism and hospitality industry throughout the world and has become one of the essential elements of growth among the services sector. In India, tourism and hospitality industry has displayed immense potential, especially with the presence of rich cultural and traditional and historical heritages, along with ancient monuments and naturally beautiful spots. Tourism in India has become a significant employment creator, and an important source of foreign exchange for the country.
The impact of hospitality on our global economy is growing. Across the world, today’s travel and tourism industry represents 266 million jobs, and contributes 9.5% of GDP globally. The growth rate of tourism and hospitality industry has been remarkable in every sector – be it regional, national or international. With the rise in worldwide travel across all segments – leisure, corporate and group travel – destinations must effectively implement and invest in their tourism strategy to differentiate themselves.
Since there has been a growth in hospitality industry, there has been a surge in MBA in tourism and hospitality across India in several institutes and colleges. Although many people immediately think about simple work when they hear the word “hospitality,” or “tourism”, individuals seeking management positions in the field can choose among several productive employment sectors including travel and tourism, event management, and various food and beverage industries. Although it is essential to amass some practical, entry-level experience in your chosen field of interest, if you truly want to move forward in your career, most of the high-profile sources require a suitable college degree, especially an MBA, in the academic discipline of tourism and hospitality administration.
After achieving the MBA degree from a recognized institute or university, aspiring candidates can well expect lucrative job offers in the tourism and hospitality industry, with a range of unique and exciting fringe benefits and healthcare packages and retirement plans.
Some of the job sectors offering promising job posts to candidates include:
- Airline and railway travelling sectors
- Conferences and conventions centers
- Travel agencies
- Tourist offices and ministries of tourism
- Tour operators
- Spas and wellness centers
- Cruise companies
- Event management
- Hotel development and construction
- Manufacturers and suppliers of hospitality equipment
- Real estate management companies
The tourism and hospitality industry in India has huge potential and with the increase of hotel chains, tour companies and hospitality sectors in every state of the country, India will soon be one of the fastest developing nation in the wellness tourism sector in the next five years.