Outbound Tourism – A Growing Trend Among Travelers

Tourism has been termed as the exchange of the services or goods for money. Tourism is an international exchange of visiting or sending of persons, products, and ideas for entertainment. Tourism has gained immense popularity worldwide in the past few years due to the growth of internet. Internet has brought a drastic change in terms of tourism industry. Tourism includes the practices of bringing together or arranging activities of tourism with other things like agriculture, educational activities, social services, sports, business, etc.

There has been an increase in tourism sector throughout the year because of increase in business, leisure time, or some other reasons. The analysis of tourism by economic analysis firm is mainly concerned with the people, goods, services, infrastructure, destination, seasonality, price and other related factors that influences the movement of tourists. This helps them to understand the tourism and their impact on the economy.

A major portion of visitors is actually non-residents or visitors who stay for a limited duration. Some times they may be on a short vacation, some times they may be looking for a longer stay and some times they may be migrating. Therefore the scope of tourism is much broader than that of the normal environment. Tourism is a term used to refer to the action of encouraging the immigration, or traveling, of persons, goods, and ideas to a particular country. It refers to the movement of people, goods, and ideas outside the usual environment to bring about changes.

Tourism in any country attracts people from all over the world. Because of the growth of the tourism industry, cities are becoming world-class and the standard of living is rising simultaneously. Due to the growth in the tourism industry, many people are able to receive higher education as well. This is because there is huge influx of students from all over the world into various universities in the United States, Great Britain, Canada, Australia, Europe, Japan, and New Zealand. As the globalization process continues, we can expect more educational institutions to be developed so that the needs of the world’s population can also be served.

The tourism industry, hospitality industry, travel and shipping industries make up the broad structure of the tourism market. The diverse nature of tourism allows a businessperson to choose from any one of these four main sectors and establish a base of operations. A good example of a broad sector that encompasses a broad range of interests and audiences is the tourism and entertainment industry. In this sector, you can find a wide variety of activities that attract all types of visitors, including adventure enthusiasts, couples, families, couples with children, corporate groups, international touring groups, academicians, researchers, historians and many others. Other important sectors of the tourism industry include the cruise and transportation industry, the hospitality industry, budget hotels and resorts, merchandising, leisure and amusement zones, destination management, postal and courier services, merchandising intermediaries, the food and beverage industry, health care and medicine, and others. These four sectors together form a comprehensive and growing market that offers a variety of opportunities to businesses.

Tourism contributes significantly to the Gross Domestic Product (GDP) of many countries. In fact, in some developing countries like Nepal and Pakistan, tourism is the single largest contributor to economic growth. The consistent rise of the value of the currency of these countries as a result of increases in tourists influx can be seen as well. For businesses that are looking to expand their business opportunity around the globe, they should consider either establishing a presence in a major tourist destination such as Nepal or Pakistan, or outbound tourism.