Exploring a Trend Business & Marketing Essay Paper (Essay Sample)

Exploring a Trend
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Exploring a Trend
Introduction
Hospitality and tourism are dynamic industries, and players in them must regularly identify critical success factors that will offer sustainable competitive advantages. Currently, factors such as entrepreneurship, innovation, advanced technology, sustainability concerns, and the quality of food and beverages are the main drivers of global trends in the sustainability industry. For example, innovations such as Airbnb, where travelers do not need to find hotels, have recently changed the hospitality industry. Airbnb has allowed homeowners to rent extra spaces to visitors, thus saving travelers’ costs and earning income to the hosts. In addition, new technology has given customers more convenience and control of their travel options, from booking rooms online to viewing and feeling their desired destination through virtual reality devices. Travelers increasingly become socially and environmentally conscious. Industry players are following suit by reducing their impact of pollution and even encouraging guests to donate to worthy courses such as education in developing countries. Domenget (2019) notes that sustainability concerns and health consciousness have driven consumers towards locally-sourced and eco-friendly foods to ensure environmental conservation and the sustainability of future generations. These trends now determine the growth and development of the industries, forcing companies to rapidly adapt to the changes to ensure consistency in the provision of quality standard services.