Researchers estimate that there will be the emergence of new global trends that will significantly shape the future of businesses. The single most important macro trend that will affect the hospitality industry in the near future is the continuation and evolution of global violent extremism and terrorism. This trend falls under the macro category of political and legal forces. Events associated with terrorism have intensified over recent years, and they pose a great risk to major economies and businesses around the world. Recent research indicates that sectarian and fascist ideologies have continued to expand and in the process, new followers have been attracted and abatement has been compromised. The gains realized through globalization and advances in technology are likely to be negatively affected since the evolution of terrorism is seemingly applying the same principles in pursuing global spread and therefore becoming manifestly difficult to tame (Cavusgil 67).
The hospitality industry relies heavily on the prevalence of a conducive environment that makes it possible for people to travel freely and engage in business and adventure without being constrained by geographical boundaries. Violent extremism and terrorism have affected this environment, and people have increasingly been selective with regards to international travel. Tourism has significantly been affected, and the frequency of incidents related to terrorism has continued to inculcate a culture of fear and distrust among people. Other negative practices that are closely related to these developments such as ethnic and racial profiling have contributed in making a dire situation complicated. Strategic business processes such as outsourcing and global shipping have been negatively affected, and as a result, businesses have been left with limited competitive options. While this has been happening, experts opine that enterprises in the hospitality industry have a chance to explore expansion through avenues such as domestic tourism, and through leveraging regionally peaceful hotspots (Buhalis et al., 117).
Works Cited
Buhalis, Dimitrios, and Carlos Costa. Tourism management dynamics: trends, management and tools. Routledge, 2006.
Cavusgil, S. Tamer, et al. International business. Pearson Australia, 2014.
