Regarding the question whether tourism is tangible or intangible creation, the most accepted definition is provided by the UNWTO – “Tourism comprises the activities of persons travelling to another place outside their usual environment for not more than one consecutive year for leisure, business and other purposes.”
In humans, there is a natural curiosity to know about different places, cultures, with an inherent desire to travel. People travel for a number of reasons. Traveling activities will never stop; hence, tourism activities will also increase in the future by leaps and bounds, especially with improvement in transportation systems and information technology.
Tourism is a versatile industry involving several stakeholders, right from the government of a nation, hospitality stakeholders, and the natural environmental factors themselves, with each of them contributing to growth or downfall.
The four Ps of tourism is Product, Price, Place and Promotion.
Tourism businesses will turn out to be more hypercompetitive after the pandemic get over. Tourist businesses will need flexible and practical marketing strategies. The world is well-connected today; hence, sky is the limit for the growth of the tourism sector. These four Ps can be developed in diverse ways and can be mixed and merged beyond imagination!
Tags: tourism businesses, UNWTO
