After major disruptions, the Asia Pacific is recovering at a good speed. According to reports, about 21.5 million people in tourism sector had lost their jobs due to covid-19, however, as the sectors are recovering, more are more job opportunities are being generated.
With the digital adaptation in every industry including Travel, Hospitality and Tourism, the hiring trends have now changed. As innovative and new business models are being created, the skill set is changing and demands more from individuals in these sectors.
Creation of Jobs
Even after the covid-19 hit the travel, hospitality and tourism industry, these industries are still one of the ever-growing sectors. Though the Asia Pacific region faced a hit of almost 54% of down turn in 2020, at present, there has been an immense rise of about 36% in these sectors which outcasts the global average of 30.7%. The hospitality, tourism and travel industries continue to create multiple job opportunities for the younger generation (youths) to choose from.
As per research, out of every 10 jobs at least 1 job is created by one of the above sectors. The Indian sector of tourism alone is expected to see a rise of 53 million jobs by the end of 2029. The creation of job opportunities in travel, tourism and hospitality sector is vast as each industry has a dynamic nature.
Over the years, countries in Asia pacific region have become a hub for visitors, creating an increase in demand for service providers to satisfy the wants of the travellers which rely heavily on the travel, tourism and hospitality sector for a better experience.
Emerging opportunities
In the technological era, the method of work has shifted drastically from traditional methods to electronic method for which the same is seen in the travel, tourism and hospitality industry as well. This has created a growing need for individuals with technologically enhanced skills and talents. In the past few years, the hospitality, travel and tourism industry followed a distinct set of rules for business model. However,now these industries have enhanced their business models by allowing the customers to decide the type of package suitable for them and which keeps them in budget and at ease.
With business taking digital transformations to boost one’s business digitally while maintaining the user satisfaction level, the need for individuals having specific skills is needed. Implementation of AI and blockchain technology is used to enhance the customer satisfaction, which in turn helps to boost the travel, tourism and hospitality sector. It creates a need for digital marketers to increase the followers and spread the services to people of all nations and languages to grow the industry explicitly. The travel tourism and hospitality sector also has opening for various job roles like data analysts, process automation experts, software and application developers.
Apart from this, the sectors also require considerable number of blockchain specialists, robotics engineers, information security analysts and more for a smoother business model experience. The growing travel and tourism industry supplies a large number of consumers to the hospitality sector and to cater to the needs of every customer, every year job opportunities are created. Some of the in-demand job roles in the hospitality sectors are like executive managers, chefs, restaurant managers, etc.
Effect on Market
In 2020, the travel, hospitality and tourism industry contributed about $12.19 billion to the GDP which is likely to grow up to $512 billion by 2028, however, the ongoing rise of 36% in the Asia-Pacific region is likely to generate a revenue of $692 billion in 2022. Also, the employment growth of the ever-growing industries of travel, hospitality and tourism is likely to experience 19.8% of increase Year on Year basis creating about 181 million jobs by the end of 2022. The Indian market as per 2020 is at $75 billion which is estimated to grow up to $125 billion by 2027.
As the new job opportunities being created are set to exceed pre-pandemic levels, so is the need for skills. The new face of the industries in the Asia Pacific region is shifting levels. The travel, hospitality and tourism industry moving from average to an advanced level with new-age tasks and jobs.
