INTERNATIONALIZATION STRATEGIES

Internationalization Strategies

Issues and impacts blend current management concepts with the latest developments in international hospitality. This provides an international point of view on the hotel industry and tourism and gives a fresh perspective into the management of hospitality and tourism. For today's organisations, internationalization is a major trend. There is no question that the services sector is also becoming more and more multinational. During the 1990s, a rapid internationalization of the world economy increased export possibilities and now services are the fastest growing part of international trade. Accelerated by their appetite for development and income, host governments ' opportunities and a freer capital flow across the globe, World Tourism Forum Institute has found that their future sustainability and growth depends on their expansion of services around the globe.

Therefore, hospitality is at the center of international business. Hospitality companies therefore need to take into account the consequences of the global context and to be prepared to address the issues arising from this fast-changing environment.

Business and lifestyle internationalization has a strong impact on the contact over great distances in foreign languages, regular travel to foreign countries, trading in many currencies and interacting with different political and social structures, regulatory frameworks, cultures and traditions.

While it is easy to identify these aspects of internationalization, it is possible to evaluate the current and future patterns, however, it revealed that several issues are influencing the hospitality internationalization market, although certain complex issues remain unresolved:

International spreading out with general product and brand position;

Marketing and sales strategies that fully capture worldwide economies of scale

Corporate organizational frameworks that accommodate service delivery with local operational control

Cross-border workforce support training

Use of world capital markets as funding outlets

The Positive Effects of Internationalization on the hospitality industry;

1.

Exposure to different cultures: due to the internationalization of hospitality executives, they can gain insight into different cultures by fusing with and growing their knowledge of people from different backgrounds.

2.

Larger market: The customer base has expanded considerably due to internationalisation. People not only travel for vacation, but also for business, health and other purposes. That’s why the hospitality industry has expanded its business, and these international visitors make their main revenue.

3.

Economy boosts: When visitors come in and spend money, it affects and increases the country’s currency.

4.

Tech Advancement: Hospitality companies need to update and expand their products and services sometimes because of the need to draw as many visitors as possible.

5.

Promotes Creativity: Organizations actively pursue new, innovative ideas to draw more visitors.

6.

More employment opportunities: As a result of internationalization, more visitors are entering the country, which will require more people to serve and meet their needs. There are also even more work openings for people in the regions where the hospitality industry is situated with the advent of internationalization.

7.

Boosts the Travel Industry: More people travel around the countries because of internationalization. The travel and tourism industries also need to be established to promote this. People who enter the country on air, by boat or by land will also use the services of transport obtainable.

8.

International Service / Cuisine Variety: The hospitality industry requires recipes and numerous other programs to appeal to guests from various cultures, customs, cuisines and languages. The local people will also have these services available, which makes them even better.

 
 
 
 
 
 
 
 
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