Hospitality and Travel 2015 by M. Cetron, F. J. DeMicco & O. Davies



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Chapter 4

If This Is Tuesday,

It Must Be Kuala Lumpur

Hospitality and Travel 2015 by

M. Cetron, F.J. DeMicco & O. Davies
The global market for tourism has just doubled, for many practical purposes. And that is only one of the changes that the tourist industry will be absorbing over the next ten to 20 years.

Around the world, the cost of travel is falling, while the middle class is becoming generally more prosperous and eager to go places. At the same time, demographic trends, changing values, and other developments are helping to bring some highly profitable turmoil to this segment of the hospitality industry.

Two long-standing trends will remain unchanged as far into the future as we can see: growth and globalization. Tourism is expanding rapidly, with more travelers every year and a wider variety of destinations and activities.




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