Chapter 14. Back to the Big Picture: Globalization and Trends
Chapter 14. Back to the Big Picture: Globalization and Trends
14.2 Top Trends
Throughout this textbook, a range of trends have been identified that exemplify some of the forces and influences associated with globalization. This section revisits some of those trends and explores some additional ones.
Take a Closer Look: Trends Reports
In the tourism and hospitality industry, and in global business, many minds work to decipher industry trends in order to keep informed and make smart decisions. One example is the Global Competitiveness Report 2019, a product of the World Economic Forum.
Focused strictly on tourism and hospitality, the UNWTO produces a World Tourism Barometer that is updated regularly, available on a subscription basis.
First, let’s take a closer look at the difference between trends and fads. While trends and fads may look the same initially, fads will almost always have a definite start and end; they are finite. Examples include tornado tourism (storm chasing tours) and terminal tourism (where people visit airport terminals without flying out from them), which appear destined to disappear as quickly as they appeared.
In contrast, trends influence things for long periods of time, potentially shifting the focus or direction of industry and society in a completely different direction. For example, the growing awareness of tourism impacts seems to be a long-term trend, leading to greater focus on developing sustainable experiences, products, and services for the mindful traveller. With hindsight, we can identify the trends versus the fads. Predicting the future, however, is not as easy.
A useful tool to use in the analysis of global trends is the PESTLE model, an acronym for political, economic, social, technological, legal and environmental forces that affect the people, organization, or destination under study. It is important to note though, that the lines around these categories are somewhat fluid, and many factors will have implications on several areas. Now let’s delve into PESTLE in more detail.
Take a Closer Look: Analysis Tools
The more complicated the world gets, the more it’s imperative that business leaders and decision-makers employ a framework for analyzing trends. While this chapter uses a PESTLE approach, other acronyms include PEST (omitting the legal and environmental reviews), or PEEST (omitting the legal reviews). For more information about these frameworks, to access templates, and learn to use them in your own analysis, visit the GroupMap PESTLE analysis web page.
So, how do you know whether something is a trend or a fad?
Political Trends
While we may be intrigued by global issues and their macro implications on the world in which we live, we also need to pay attention to local politics and policies. The world is currently challenged by growing populist movements, power conflicts and protectionist measures (Ipsos, 2020). Within this climate however, support for globalization is increasing, public services are impr