External Factors Affecting Tourism Industry

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There are several external factors that indirectly affect the hospitality and tourism industry. It is essential for people working in the hospitality industry to know about these factors because according to that only planning of tasks can be done for achieving success. As it is difficult to control these factors it is essential to make necessary changes whenever required.

One of the major factors that are having indirect influence is the economic factors within a region or around the globe. A slight fluctuation in the economy can make people spent less or more in the hospitality industry. Tourism and hospitality will perform poorly when the global economy is declining.

Any changes in the law and order also will affect the tourism and hospitality industry. As any regulations imposed by the government changes occasionally it can have no control over the hospitality industry. Changes in taxes and increase in the price of items are also coming under these factors which can affect the hospitality industry.

Introduction of new technologies also affects certain companies in hospitality. If new technology is not being adopted by companies competitors will take over and it will be difficult to sustain. One of the areas that are of growing concern in the technology field is the adoption of software which is used to control the tour and hotel booking facilities.

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