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Hospitality and tourism business is a field of business where the services are being provided with reference to travelling services and accommodation. However, these sectors can help in generating good revenues for the economy. The present report is based on the two defined destinations i.e. Australia and Vietnames. The stated document is prepared with a purpose to compare the tourism aspects of the two economies. In addition to this, it is also going to define the major difficulties which can be faced by an organization at the time of marketing (Marija, 2014).
In Australia, tourism plays an essential role for this economy as this sector contributes 3.0% in the GDP. There are different destinations in Australia which attracts the local and international tourists. But the H&T sector of this economy is mainly based on local and national travellers. In order to increase and improve these services, the Australian government is actively seeking for the opportunities. In this economy, hospitality industry plays a crucial role. In context to this, tourism also plays an essential role in the development of this economy. There are unique attractions in which creates the interest of the country (Robinson, 2014). On other hand, Vietnam's economy also has a contribution of 3.7 % H&T sector in the GDP of this economy. The stated sector helps the Vietnamese economy to provide different opportunities in terms of job and other economic development. For this economy, H&T sector is responsible for the development and global growth. In Asia, Vietnam is leading country in terms of tourism sector. The government is consistently trying to improve their services to the travellers so that it can further increase the share in GDP. As per the statistics, in the year 2011 in millions the international travellers visited this economy. This has resulted in increasing the revenue of this economy (Normann, 2013).
In context to above, there are certain reasons due to which the market segment of the two economies have changed. However, social factors, technological factors and other factors can result in changing nature of the market segment. For an instance, if the taste and preferences of the customers get changed then it will have an impact on the two economies. However, it is crucial for the economies to analyse these factors so that it can attain the consumer demands and needs (Normann, 2013).
In Vietnamese, there are different brands offers travel and hospitality services to the customers. But in terms of ranking mainly the two are Adventure Indochina and Luxury travel Vietnam. However, the adventure Indochina is one of the leading brand provides variety of services for holiday and tour packages. This company provides travel services to bother the local and international clients. The staff of this company is well trained and maintain high standard in terms of quality services. In addition to this, the organization offers different sightseeing and other exiting adventures for the travellers. The major focus of this company is to render quality services to the customers (Robinson, 2014). On another side, Luxury travel Vietnam is another leading brand in this economy. The speciality of this operating company is that it has good knowledge of different languages so it deals with customers of different economy. Their major focus is on providing luxury services to the customers in terms of food and accommodation. In addition to this, the organization provides food and accommodation by maintaining the world class comforts. This helps this company to attract large number of customers in this economy (Marija, 2014).
According to improved analysis of Australian and Vietnamese economy, it can be said I can focus on establishing a hotel in my home country. I have decided to choose the hotel business because I have interest in serving people. Along with this, the economic aspects of both nation also indicates that hotels are having great involvement in economic development. In addition to this, the costing of setting out budget hotel is also low because the land availability in Vietnam is easy which provides me a great opportunity to lead business towards impressive level of success. Majority of business class and tourist are used to visit Vietnam (Marija, 2014). These kinds of person are attracted towards hotel services for accommodation so that goals and objectives can be developed in appropriate manner. Along with this, I have completed my education in hotel management which also attracts me to establish a hotel and make sure about my dreams accomplishment. I have also past working experience in the hotel firm that provides me a proper understanding in regard to the subject. With an assistance of work experience I can have smooth operational activities in regard to hotel (Tourism Australia, 2016).
In addition to this, it can be said that I have partners in setting out a new hotel. I have also noticed that my partners are offering me a better corporation and commitment towards business. It allows me to take decision in regard to selection of setting out a hotel business. I am also good at communication so I can have use of communication skills in order to attract more and more customers. It means in order to have appropriate use of communication skills and follow my dreams I have decided to have establishment of hotel business in my home country. Local environment of Vietnam is also well attracted towards hotel business. Dinner at small scale restaurant in hotels is preference of local business. It means by setting out new hotel I can target local customers as well as foreigners (Kimmm, 2012). It will allow business firm to have better success in market so I have chosen to establish a hotel.
In order to have establishment of the hotel business at my native place, I need to focus on diverse success factors. It means it is significant for me to have appropriate analysis of customer needs and issues which may impact the overall business. Marketing is one of critical issue which might impact the overall outcome in diverse manner (Mehmetoglu, 2014). Lack of financial resources is one of critical issue which might impact the overall outcome. If finance is not available then it might be possible that issue in regard to marketing activities allocation can be faced. It is because the marketing activities demand an effective allocation of funds so that information in regard to business can be shared with customers. Along with this, the customer needs identification is also one of critical factor which might impact the effectiveness of marketing activities (Normann, 2013). It has been noticed that if marketing activities are not being framed according to customer needs then it might not affect the customer perception in positive manner. Marketing activities must be designed in such manner that it ales to create an interest among customers so that goals and objectives can be accomplished in desired manner. Moreover, inappropriate selection of communication medium and marketing tactic is also a critical aspect which might impact the overall outcome in diverse manner. It has been noticed that if communication system is not appropriate according to standards then it will not allow to have sustainable development because information about product and services can not be shared effectively with customers (Robinson, 2014). For example, In Vietnam the use of digital media is very low but the company has decided to select social media as a platform of advertising. It means the marketing activities will not be effectively accomplished because selected medium is not according to customer interest. It means I need to ensure about the issue for promoting my business in appropriate manner
As per above study, it can be concluded that Australian and Vietnamese economy is having great development in which hospitality and tourism sector is having effective participation. Vietnam economy is having improvement due to effective participation of competitive hotels. It has been noticed that customer needs identification is also one of critical factor which might impact the effectiveness of marketing activities. It has been noticed that if marketing activities are not being framed according to customer needs then it might not affect the customer perception in positive manner.
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