The paper "Current State of Tourism in the Australian Capital Territory" is a great example of a business case study. Climate change is a significant and contested issue that contributes to strong or weak business relationships and interactions with the social, financial and natural world. Climatic changes affect the way business is transacted and the stakeholders of the business, especially the customers (Machin 2013, pg. 56). With negative changes in climate, the cost of sustaining a business also increases, which may affect the overall budget of the region, particularly on businesses that are major sources of revenue for Australian Capital Territory. Tourism is one of the world’ s largest industries which are rapidly growing and it is labour-intensive.
The industry is able to reduce poverty by redistributing wealth to many sectors in a region such as ACT. In the business world, there are few activities that are dependent on climatology and meteorology other than agriculture (Measham and Lockie 2012, pg. 116). The future of tourism is highly dependent on the global response to climate changes. Tourism dependence on climatic changes is because the industry is both a victim and a vector of the climate change phenomenon.
Since the contribution that is made by the tourism sector to the economy is now recognized in both developing and developed countries, it is important that the industry plays its role in addressing the challenges that are posed by intense climatic changes globally (Hodgkinson and Garner 2008, pg 59). The current state of tourism in ACT Since the emergence of mass modes of transportation such as a cruise ship and a Jumbo jet after the Second World War, the tourism sector has continued to grow rapidly.
ACT region has hotels and resorts that can accommodate 15 or more rooms, private rooms or motels that can accommodate 15 or more rooms as well as apartments that have 15 or more units. The tourism sector in the ACT is made up of a wide range of transactions from large stock exchange companies all through to smaller businesses like bed and breakfast operations. The industry is playing an important role in the development of ACT by creating employment opportunities to the people in the area. The changing composition of the visitor markets appears to be engrained like a long-term trend.
Early 2013, the insights presented information on the latest tourism strategy, according to the ACT tourism forecast group which indicated that the Chinese market share is forecasted to increase significantly. The share was at 6%, but it is forecasted that it will increase to 10% by 2016 while that of UK market share is forecasted to decline to 9% compared to the current state of 9% (Moscardo 2013, pg. 197). According to the research that has been carried out on the tourism market trends, most of the other visitor market shares are likely to remain stable within the same period. Strategic challenges of sustainability of the sector in light of climate change Unlike many business industries, tourism is a unique industry that moves its customers to their point of consumption.
Depending on the means of transport, the industry consumes a lot of its resources by ensuring that the visitors are satisfied. In case of any climate changes, the industry incurs more costs to enhance its sustainability and to maintain the number of tourists (Painter 2013, pg.
114). These costs are incurred as a result of the following challenges:
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