How Valuable is the Hospitality Industry Currently

The hospitality industry encapsulates everything starting from hotels to travel to entertainment and lifestyle. As the economies of countries continue to improve, more and more people are starting to invest in leisure activities owing to their improving living standards. To put it into perspective, more than 40% of US citizens preferred to buy their food rather than cooking and the stories are similar in other branches of hospitality as well. The industry is indeed booming and there is simply no looking back after completing any of the top travel and tourism courses.

What is the current scenario in the hospitality sector?

Over the past few years, the hospitality industry has contributed to 10.4% of the global GDP and projections show that it is slated to grow by a further 10% in the next decade. In 2017 alone, the industry has generated 313 million jobs worldwide and 72 million more jobs will be added to the former figure. Hospitality now comes right next to the Government sector in terms of creating employment and holds 20% of all the available jobs around the globe. Even during the current economic downfall of the developed countries, this industry continues to grow and the demand for professionals is unlikely to exhaust.

Take the city of London for example. It alone houses fifty-four Michelin Star restaurants along with over 1600 hotels. Official reports suggest that these figures are likely to increase exponentially as more people are starting to invest in the hospitality sector. All such institutions that open up in London require trained professionals to offer their services and the increasingly competitive market is shooting the demand higher. All major cities around the globe are moving towards the same type of development and there’s simply no indication that the hospitality sector is likely to fall.

What is causing this boom?

Technical advancement is one of the main players that has brought about this growth in the hospitality sector. People are more informed about travelling now and booking tickets online is that much simpler. Plus, the internet and the social media have made it easy to spread the word and customers are more informed about services now. With everything happening at the touch of a finger, it is easier for everyone to plan a travel or eat out and the whole process is hassle free. People are willing to spend on hospitality and technology is fueling their desire.

In addition to this, governments of countries are going the extra length to boost their tourism department as a substantial source of revenue. New countries are pitching in for international sports tournament and multinational companies are growing in number. Again, the ease of travelling is making all these possible and people are willingly travelling to foreign lands. Be it a business meet or a sports event, a band performance or an international conference, every event demands the services of a hospitality professional in some form and hence the boom. The top travel and tourism courses Gurgaon will equip you with the necessary skills to join the industry immediately and kickstart your career.

What are the avenues available?

There’s diversity in the hospitality sector and you can choose to work almost anywhere. You can start with a front-end executive position and reach the levels of a hotel manager. You can choose to become an event planner, beverage manager, travel consultant and so on. You can also work in the medical industry as hospitals also require executives to attend to patient’s families. A law firm, a tech company or even the airlines, job opportunities for hospitality professionals are endless in these current times.

The best travel and tourism courses in Gurgaon like the one from Doyens Fly will give you the exposure you require to become the in-demand professional. You will gain the necessary theoretical knowledge of the hospitality industry combined with the necessary practical experience through internships. You can aid people in drawing their travel itinerary or help them with wine tasting. You may help a chef to run his own restaurant or manage assets in a big hotel. You can also plan a press conference for a product release of a tech giant or organise a wedding of some famed personality. The avenues to work in are endless and you will always remain spoilt for choices.

Hospitality – definitely valuable

A person travelling to any region require the services of a hospitality professional from the word go. Be it the cab services he/she uses, the plane he/she boards, the hotel, the restaurant or even the spa. A single traveler can create these many jobs and that is how much the hospitality sector is worth. Economies may be falling but travel, events and leisure are increasing. Other businesses require the hospitality industry to function and this is one sector that is not staring at saturation. So, select the right institute, join the top course and become a hospitality professional.

One thought on “How Valuable is the Hospitality Industry Currently?”

Leave a Reply

Your email address will not be published. Required fields are marked *