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Question
During class a series of dialogue session will be conducted developing each students Project Profile. The student must consult with the Lecturer to define the topic for this Project. Students will develop a short proposal of the industry/sector they wish to examine. The Lecturer will sign off on the Proposal only when satisfied of its originality as a project.
Areas Previously examined by students include:
- Global Logistics
- International Resort Development
- Global Sport Industries
Solution
Abstract
The hospitality industry has been having immense growth in the recent years that has opened doors for business expansion for all the companies operating in this industry. The increasing growth opportunities have made this industry lucrative for resort to go with the strategies of resort developments at international level. The business expansion decision of the reports in the other countries is affected by several microeconomic factors. The key micro economic factors encompass resource availability, market competitiveness, consumer demand and availability of investors (Goodwin et al., 2018). The evaluation of the effect of these micro economic factors on the decision of expansion as international resort development is conducted in this report with the example of a resort named Bognor Regis Resort which is holiday resort at the seaside of the West Sussex in England. The expansion decision of Bongor Regis report in the international resort market will have a direct impact of the micro economic factors.
The micro economic factor of market competitiveness is very much critical for business expansion Bognor Regis as selection of appropriate destination for resort business is full of competitive pressure. Tourism development process requires high degree of focus on the quality services to the tourists in order possess significant competitive advantage into the other countries where already several successful players are operating their business (Attila, 2016). In the decision of business expansion into other countries, the resort will tend to consider the service excellence offered by other holiday resorts and hence work on improved level of services in order to sustain in the competitive landscape.
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