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The World's Largest IndustryAccording to World Travel and Tourism Council (WTTC) travel and tourism represents 10.6% of GDP worldwide. Hence it can be claimed that tourism is the world's largest industry, employing more people world wide than any other market sector, and generating more revenue. What is without doubt is that tourism is a vital economic sector for many countries and many regions, both in the developed and the developing world. Tourism resources in any particular country or region are likely to be limited. Consequently there are capacity issues to consider. This is likely to lead some degree of diversification such as promoting secondary sites of historical importance, or developing different market opportunities, such as golf as an alternative to beach holidays. With such changes there is a need to analyse the resources available in terms of the existing and potential capacity available. On the basis of such an analysis it is then possible to recommend an appropriate segmental approach to maximise the revenue potential of the region. In spite of its size, tourism can be very vulnerable to risks, most notably (but not exclusively) security. Countries that have experienced serious setbacks have managed to recover, but it is a difficult management challenge to minimise the length of the recovery period.
The MSP Solutions ApproachThe services which MSP Solutions can provide include the following:
The Benefits to Our ClientsMSP Solutions has great strengths in forecasting and market analysis and our people have considerable experience of preparing tourism studies in various parts of the world. Our wide experience of airline economics and marketing is also valuable in developing tourism plans, particular with regard to identifying potential sources of inbound tourism.
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