PEST Analysis for a Company in the Tourism Industry
The Tourism industry is one of the fastest growing industries in the
world. The World Travel and Tourism Council estimates that in 2004
Travel and tourism is expected to generate
* US$ 5,490.4 billion of economic activity
* 10.4% of total GDP
* 214,697,000 jobs or 8.1% of total employment
* 12.2% of total exports [1]
My task is to conduct a PEST analysis for a company within the Tourism
industry.
Within the tourism industry, I have to select one area of interest
like transportation, accommodation and transportation etc. and then
one company doing business with these sectors related with the
tourism.
According to Leiper ?Transportation is the only link between the
tourist-generating region and destination region?[2]So, transportation
was a more interesting sector to discuss in the report but I tried to
find a company which is related with all these main sub-sectors
discussed above in the report.
I have decided to look in the U.K market for such company because
?Tourism is one of the largest industries in U.K, worth approximately
75.9 £ Billion to the U.K economy in 2002 and supporting around 2.1
million jobs.? [3]
During my research on internet I found many companies offering
services in the tourism of U.K but I have decided to choose ?Simply
Travel? because of its variety of services offering related with the
accommodation, transportation and attractions.
1.2 Problem Formulation
In the problem formulation part of my report I would describe the
overall situation of the U.K Tourism industry. The service concept of
?Simply Travel? will give us information a ...