Business tourism and development of the tourism industry

phillip island

Tourism plays an important role in the development of the economy and in attracting foreign capital to a particular State. In addition, tourism creates new jobs and attracts millions of customers all over the planet every month. There are many fields in the tourism industry, such as catering, trade, and transportation.

This industry is becoming more and more in demand every year. People tend to visit new countries and get great emotions and travel experiences. Phillip Island day trip, a vacation in European cities, or a journey to the mountains can be everyone’s dream. So, business in this field can be a promising and profitable idea.

Business in the tourism industry

The dynamics of tourism development depend on several factors. They include the availability of tourist and recreational resources in the particular region. Each of them is indispensable in the tourist service. Among them are cultural and historical, natural-climatic, and human resources. The economic factor is no less important since it describes the region’s provision with the necessary tourist infrastructure and material and technical base. In its turn, it is a means of producing tourist products.

Modern tourism is an efficient and huge industry that differs from other branches of the global market. For example, the tourism industry generates jobs for locals in resort countries and cities. Also, it provides an inflow of money and investment in particular regions.

Implementing innovative technologies in tourism enterprises’ activities drives the tourism industry’s development. Effective development of the tourism industry would not be effective without regular innovation in tourism technologies. Innovative processes in the tourism business have many features.

Features of the tourism industry development

phillip island penguin tour
Phillip island penguin tour

Let’s look at the key factors influencing the regular and effective implementation of innovative technologies in tourism. First, there is the need for the population to familiarise themselves with the way of life in other states, which is growing intensively. Also, that can intensify competition and increase the number of standardized global products. Tourism and its development could not do without such factors as the technological revolution and the increasing impact of services on the economy.

Innovative activity is the foundation of tourism. As a rule, it has three directions of development. These are the implementation of organizational, marketing, and product innovation. Any innovation in the tourism industry can create new services or products. For example, it can improve transport or hotel services and conquer new market segments.

Also, we would like to note the development of information and communication technologies, the implementation of which can benefit any tourist business. Local tourism and international tourism can be equally profitable and successful. However, the entrepreneur should remember the timely introduction of innovation and global development of world tourism.


The international practice of tourist business shows that in modern conditions, business and congress tourism is among the most profitable and intensively developing areas of commercial travel. Business tourism is a pretty fresh type of tourism. So, if you plan to open a travel company and get a license, you can consider this type of business. However, classic tourism will be no less profitable and interesting. Organizing the Melbourne penguin tour is only one example of the fascinating and extraordinary travel we can dream of.