Chapter 3: Features of Tourism-Related Businesses and Trends in Tourism and Travel Markets

The aim of this chapter is to provide the readers with a brief background to the characteristics of tourism and a synoptic presentation of the main trends in tourism markets and challenges that tourism businesses should deal with.

A literature review was conducted on the relevant trends that can affect the management and marketing of tourism businesses. Micro case studies were also presented as practical examples of how tourism businesses have adapted to trends.

This chapter highlights the specific characteristics of the tourism industry, as well as the trends in the market/business environment. Tourism businesses need to remain aware of trends and find solutions to adapt their services and activities to take advantage of them.

This chapter is explorative in nature because it has made used of extant literature.

Tourism entrepreneurs are encouraged to stay abreast of changes in the business environment. Some of the examples provided may only be applicable in the short run but other examples have long-term impact. Valuable solutions are provided for consideration.

This chapter analyses several trends affecting the tourism industry from management and marketing perspectives. This analysis gives a better understanding of how these trends specifically affect tourism. This chapter highlights the importance of monitoring the trends and their evolution in the various markets.