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Globalization has exerted ample influence on every sector in the world including the tourism and hospitality industries. Despite the pandemic and other changes, the hospitality sector has continued to grow and adapted to the changing environments rapidly. The revenue and employment generation from this field has never taken a backfoot in recent years.
Hospitality and tourism management accommodates adaptive measures and thrives against all odds thrown at them. This growth has led to an increased interest in the professions in the sector.
If you are someone interested in the hospitality sector, you might be wondering about the future possibilities for growth here. Let’s find out how hospitality management is a good choice for a future career.
What is hospitality management?
Hospitality management is a broad career path that is mainly associated with the lodging and travel industry. The job requires you to use your leadership and teamwork skills to provide the best experience for clients and guests.
Your responsibilities in the hospitality sector will include overseeing every operation from marketing to housekeeping and sales. Creating plans and strategies, hiring employees, meeting the targets of the company and above everything maintaining user satisfaction are the duties involved in hospitality management.
Hospitality industry and the pandemic
Before the global pandemic, the hospitality and tourism sectors were thriving and contributing largely to the world economy. The pandemic altered the direction of the sector and made it more adaptable to the changing needs of the global population. Though people feared stepping out during the peak point of the pandemic, things slowly got back to normal.
The hospitality industry brought up new plans that focus on hygiene and safety of people and gained their confidence back. Once the restrictions were lifted the hospitality and tourism sector navigated through the new global environment with stronger business plans. This shows the resilience of the industry and how nothing could pull back the determination of the industry to survive the storm.
Scope and future of hospitality management
According to a Statista report, the compound annual growth rate of the hospitality sector is 18.5%. This shows that the growth of the hospitality industry has been continuous on a global scale despite all the odds against it.
Post the pandemic, there have been numerous employment opportunities in the sector with lucrative salaries. The growth rate indicates the capacity of the hospitality and tourism sector to move forward adhering to the new normal. The perks of a job in this sector include flexibility, high monetary compensation, and security.
The pandemic boosted the scope of local tourism and since then there has been an equal growth in the local industries as in the popular destinations. All these have led to employment generation in the industry.
The future of the hospitality sector is secure with an annual growth rate of around 18.5%. Whatever may come, there are strong and sustainable business models in place to ensure the adaptability and growth of the sector. Hence. Hospitality management is indeed a good and secure job for your future.
This article is written by Anu Augustine.