Travel and Tourism Competitiveness Index provides an in-depth analysis of competitiveness of economies in the world. The term 'tourism' has become one of the most sought-after and carefully used in the modern world of business. Before, a less adventurous word called 'traveling' could be used in its place. In this context, it simply involved moving around with the aim of taking in the sights. As time went by, however, businesses and governments alike came to appreciate the significance of tourism, as it emerged as a major contributor to various economies
Understanding the dynamics of tourism is no mean thing, and whether you are the tourist or merely an interested party wishing to discover more about this industry, there are certain trends that you must always bear in mind. At the very basic, it is important to understand the factors that contribute to the success of this business, and by extension discover the various places in the world that these factors are most at play.
Even though it is common knowledge that certain regions excel in the business of tourism due to some common indicators, what normally escapes many is the fact that a given region or country can fare well in regards to a given indicator and rather poorly in relation to another.
An enabling business environment is arguably one of the most contributors to the success of tourism in a particular country, and understandably so. This is why countries in the far east such as Singapore and Hongkong, and those in the middle east such as United Arab Emirates and Qatar top the list here, thanks to their long-running history of success in the enterprise sector.
Emerging as one of the greatest challenges of modernity is security. Not only has this become a point of concern for governments but also for other players in the tourism industry. Every tourist would want to visit a peaceful and serene country, which explains why such countries as Finland, Qatar and the United Arab Emirates excel in this regard.
Health and basic sanitation standards
Unknown to many, certain countries have had a drop in the number of tourists due to health-related challenges those countries experience. It is understandable why any tourist would flinch at the mention of the phrase 'West Africa' due to the recently witness cases of ebola. Proper sanitation conditions have however seen such countries as Austria, Germany, Lithuania and Czech Republic make quantum leaps in so far as tourism goes.
Labour and human resource
It is only common sense that a guest needs to be attended to. What if you had guests and not enough maids to ensure they enjoy their stay, would they still be welcome? Well, labor and human resource trends can be looked at at two angles - availability and competence. Given the fact that this is a hospitality industry, tourism will only flourish if there are enough qualified personnel dedicated to seeing its success. It is understandable why countries like Switzerland, Iceland, Singapore and Denmark have earned their place as best countries in terms of labour and human resource provisions.
Cultural heritage and natural resources
Any tourist would like to discover the cultural composition as well as the natural heritage of their country of interest. Spain, France, Italy, China and Germany top the list in terms of cultural heritage while Brazil, Australia and the United States fare better in terms of their endowment in natural resources.
Air Transport Infrastructure
We are all aware that Canada, the United States and the United Arab Emirates have some of the world leading airlines. What might be obscure though is the fact that this trend has actually contributed to the growth of the tourism business in these countries.
The tourism competitive index may be a really elusive concept if we do not break it down into its individual components. Understanding the dynamics affecting the tourism industry can also be simplified by first accepting the fact that different regions in the world are differently endowed.