Travel & Tourism is the largest segment of the Hospitality Industry and is comprised of many different businesses.

Travel and Tourism : Largest Segment of the Hospitality Industry

Introduction

According to Dittmer and Griffin , there was a time when the manufacturing sector - at least during inclusive years spanning the nineteenth century until the first half of the twentieth century - accounted for the largest part of the economic growth in the United States (1997 ,

.4 . Because economic superpowers at that time were so prolific in building machines and frontline weaponry , the manufacturing sector was undoubtedly a chief determinant of the magnitude of any economy . The epoch after the Second

World War however saw an interesting shift in the economic activity not only of the United States but also of the world . During the said times , it was noted that the acceleration of the service sector have begun posting a much faster ' rate than the manufacturing sector (Dittmer Griffin , 1997 ,

.4

There are good reasons to suppose that shift in economic trends presented by Dittmer and Griffin is of critical importance not only for economists who take serious interest in economic matters , but also for the general public as well . Modern society 's access to an array of efficient travel modes , its notable increase in vacation length , the availability of prime lodgings , even the change in food and drink consumption trends , have all accounted for the rapid growth of the service sector . But what chiefly profited from this phenomenon is the Hospitality Industry - the facet of an economy that concerns businesses which provide food , beverage , lodging ' and services to travelers (Dittmer Griffin , 1997 ,

.6 . As such , the Hospitality Industry is but a facet of the service sector . Still , it is an umbrella term that can be broken down further into finer segments . What this study takes interest in presenting is the particular segment of Hospitality Industry called Travel and Tourism . As the discussions progress , it is hoped that this can successfully present the factual considerations that can lend support to the central thesis of this work : that Travel and Tourism considered to be the largest segment of the Hospitality Industry contributes significantly to any given economy because of the diverse profitable businesses it is able to generate and sustain

Scope and Methodology

The scope of this study is limited to the discussion of the nature expanse and dimensions of Travel and Tourism , including the many businesses that are responsible in making it biggest sector in the Hospitality Industry . This does not attempt to discuss the intricate details of the Hospitality Industry as a whole . But among the many areas that shall be touched , a network of business such as food and beverage lodging , entertainment and recreation , and transportation shall be brought into the fore . This draws from the premise that much of the robustness exhibited by the Travel and Tourism sector is the direct result of the vibrancy which these smaller sector-types manifests Second , it is good to likewise note that the methodology that shall be used for this study is an expository one . This may...