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Travel and tourism industry has been considered as one of the world’s best and dynamic industry being second largest export commodity. There are certain dynamic factors that need to be understood in order to find out the future of the travel industry across the whole globe. They provide many services that make them innovative in their domain. Travel Industry has business that depicts the adventure nature of the domain. The travel industry has to understand certain contemporary trends and factors that are directly affecting the industry.

Political Factors

The political condition and stability is extremely important in determining the image of destinations in regions which attract tourists. The warfare, terrorism, violence and coups also have a negative direct impact on the development of travel industry. There are certainly other factors including political unrest, strikes and the traveling rules and regulations defined by each state and region government advisories. Political instability can create negative publicity, causes an inevitable decrease in tourist arrivals. Since travel and tourism brings investment in any country so political instability will bring serious consequences to the fun, comfort, safety and leisure of tourists.

Economic Factors

Economically the travel industry has been considered as one of the best industries in the world. Customers have shown great satisfaction in this particular realm. The industry is paying its employee’s way better than the employees working in other industries. However the industry has to keep in view the state legislations while recruiting and selecting staff. The profit the Travel Industry is making is good enough to maintain its good position against its competitors. The growth of industry is driven by higher disposable incomes and changing lifestyles of consumers.   The fluctuation in currency rates between countries directly affect the international travel supplier marketing.

Social Factors

There are certain unique features of the Travel Industry that have played a vital role in making the organization popular among its regular clients. The quality which has been maintained by the team of Travel Industry has made the travelers more prone to the industry. The innovative culture introduced by the tourism has always attracted the clients. The company must always consider and respect the social values and norms of the people from every background. The tourists travelling any place have influential impact on the community they are visiting. This impact includes drug usage, crowd behavior, criminal activities and level of community interaction.   One aspect of negative social impact on tourism which cannot be ignored worldwide is that of child labor. Since the industry includes the hotels and food processing companies who hire children as employees. However overall travel industry creates a very enjoying and memorable experience for everyone.

Technological Factors

This is the era of technology. The people here are now very much interested in the new technologies and always expect from good companies to adapt the latest trends of technology. Likewise, Travel Industry has always been found adapting the new technological trends in its domain. Be it buses, trains, airlines and other modes of transport or be it hotels and casinos, every businesses included in transport industry has the best customer care services with the updated technology. While talking about airline business, it has all latest and up to the mark technology in the planes and on the fleet. The best use of technology has made the travel more comfortable. From ticketing services to the boarding services, the entire sphere has been made customer friendly with the use of technology. So technological factors are the major ingredient in chalking out the policies of Travel Industry.

Legal Factors

The Travel Industry has to follow certain legal laws and regulations. These factors are something which cannot be undermined. Negating these factors and its influence could be fatal. It has been incumbent on the Travel Industry to follow and respect not only the rules and regulations set by the government but also by the other states in which the Travel Industry has been working. The Travel Industry must always the rules and regulations of the states which are directly or indirectly linked with the whole process of traveling. For safe and sound travelling it is important to consider all the factors and to practically take initiatives to deal with the hurdles that came in the way of the success of the organization.

Environmental Factors

The fundamental concerns pertaining to the environment are the best use of fuel and the wastage of oil in the travelling aspect. These certain environmental polluting factors are also one of the major concerns when it comes to the environmental factors. The preservation of the environment should always be the key concern of Travel Industry in order to abide by the global concerns related to the environment of the earth. In order to maintain its position in the global market, it is essential for the policy makers of the company to formulate a look ahead policy in order to compete for the Travel Industry.