What are the Key issues affecting the Business Travel Industry at the moment?

[Adam]

Need Help on an essay please if you have any ideas please share thanks.

[Mohammad]

1. Looking into 2014, the travel, hospitality and leisure (THL) sector outlook remains positive due to improving demand side drivers.

2. Some of the biggest challenges facing the industry are:

•Attracting and retaining talent:

Travel and tourism industry is expected to add more than 70M jobs over the next decade, with two-thirds of those jobs to be created in Asia. With this growing global demand and geographic expansion comes the ever-increasing demand for more talent. CEOs will likely be challenged in finding, training, developing and retaining talent.

•Building customer loyalty during the upturn:

Hospitality companies should consider building enduring customer loyalty and delivering a differentiated brand experience during this phase of gradual economic recovery.

•Expanding beyond Brazil, Russia, India and China (BRIC):


3. What trends might disrupt “business as usual” in 2014?

While recent health care reform and increased taxes may impact the industry’s profitability in 2014, companies need to be ready as new market opportunities across geographies arise.

•Health care reform likely to increase companies’ costs:

•Increased taxes may dampen travelers’ plans.


•Potential market opportunities driven by new regulations: Companies should consider planning their market entry strategies as new markets open up, especially in the gaming sector. There are recent developments around legalized gambling in countries such as Japan and Vietnam; when such opportunities materialize,


4. What are some steps companies can take to foster innovation and/or growth?

Digital innovations and social media play an increasingly important role as hospitality, airline, leisure and other companies look for ways to engage customers and build long-term relationships.

Sustainability continues to be a key focus area — while airlines are working toward fuel efficiency amid volatile oil prices, many restaurants are focusing on low-calorie and organic food to bolster consumer confidence and reinforce their brand image.

In addition to their core Gen X customers, companies should consider focusing on millennial customers (typically aged 18-34) as they present a significant growth potential.

5. Details at:

http://www.deloitte.com/view/en_US/us/In...0aRCRD.htm .