The Future of the Hospitality and Tourism Sector - 2016

Today, the presence of hospitality and tourism sectors plays an ever more important role both for urban and rural regions. Recent studies show that urban economic vitality is highly dependent on the existence of cultural activities, city amenities and concentration of service establishments. The traditional way of thinking about urban and rural economic development with respect to the use of production factors is challenged by arguments where the importance of consumption, amenities and culture for a region’s attractiveness are accentuated. Urban public authorities, as well as actors in the private sector, have over the last decade started to develop strategies related to regional quality of life, in order to attract future residents, tourists, and conventioneers.

To create vibrant places, with better and more diverse consumption possibilities, is considered crucial and adds to economic development in a number of ways. Several branches of the tourism and hospitality sectors constitute the spine of the service-based economy and consumption in a region. As an economic activity, it is heavily dependent on the individuals working in the sector, which also implies high employment opportunities in the local economy. The sector is not only a good career domain, but also a stepping stone for youth and immigrant employment, aiding integration at different geographies.

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