Travel and Tourism

Travel and Tourism

Travel and Tourism is one of the world’s largest industries and the most prevalent in the Hospitality Industry. The Travel and Tourism industry accounts for more than 9.4 percent of the world’s Gross Domestic Product and employs approximately 220 million people who help provide an immense range of products, services and facilities to cater for the needs of their patrons (World Travel & Tourism Council, 2007). The Travel and Tourism industry is not just one segment, but a series of segments and sectors that are linked together by a common goal to serve the traveling needs of their patrons around the world. The Travel and Tourism Industry, is comprised of many different business segments which include services like transportation; lodging; food and beverage; entertainment; and recreation. This essay will explain the how these business segments contribute to this immense industry.

Transportation services can include a wide varity of services such as plane, train, bus, and ship travel. Depending on the demands of transportation needed by tourists these are the many different terms of travelling. According to a survey from the World Trade Organization (WTO), 704 million people traveled by air in 2006 and reported that 25 percent of air and sea passengers accounted for the Transportation Services Sector. Also 842 million international travelers spent a record breaking 745 billion dollars in 2006 (Leiper, 2008). As stated by Neil Leiper, “transportation covers all transportation services that are performed by residents of one economy for those of another and that involve the carriage of passengers, the movement of goods (freight), rentals (charters) of carriers with crew, and related supporting and auxiliary services” (Leiper, 2008). WTO reported that in 2006 Transportation Services accounted for 22.9 percent of the international exports in commercial services while the Travel Services (mostly the Hospitality Industry) accounted for 27.1...