The paper "Tourism Business Management" is a great example of management coursework. The hospitality business is one of the viable opportunities for investment these days. Interest in travel and touring has been growing across the world (Smith, 2012). Young people always want to tour various places for leisure and study purposes. In this case, they travel to different places with the aim of conducting research on various issues. Working-class people also have a habit of saving money with the aim of travelling overseas during holiday seasons (Witt, Brooke, & Buckley, 2013). Besides, people in retirement also want to enjoy life by travelling to different destinations across the world.
In this way, they get to experience life outside their country during the final stage of life. Due to this growing interest, the demand for hospitality services is also becoming high (Frechtling, 2012). As people travel around the world, it is important to note that they spend a lot of money in exchange for various services. Such activity implies that there is a viable opportunity for investment. As travel interest increases, the demand also increases hence there is a need for investing in this industry in order to satisfy the growing demand (Aldebert, Dang, & Longhi, 2011).
An investor may opt to invest in hotels, transport, or offer tour guide service to visitors. There are a lot of opportunities in this industry where people can invest and realize good returns (Goodall, & Ashworth, 2013). However, such investment calls for management skills and reliable information concerning the industry. Such skills enable the investor to run the business smoothly while the information helps in ensuring total compliance with regulations as well as strategic planning.
This paper provides general information on venturing in the hospitality sector in the coastal region of East Africa. Industry Description The small business falls under the tourism industry. Currently, there is a diverse interest in tourism whereby people travel for different reasons. Initially, people used to travel for leisure hence most investors concentrate on providing leisure-related services (Ghimire, 2013). The trend is taking a new dimension these days with an increasing number of visitors with the aim of conducting research.
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