Exploration of the Viability of Inbound Tour Business in New Zealand
Chapter 1: Introduction
Research Setting and Focus
The research setting reflects the areas or locations in which different research-related activities are being done. In context to this, the presented research work is done within the territory of New Zealand. The prime quest of the research work is to judge the business viability of the inbound tour packaged designed for a cycling tour from Queenstown to Southland.
The business concept on which the entire findings of the research work are based will be related to inbound tourism within New Zealand. The prime business concept will be to provide some highly convenient and luxurious tours for inbound tourists in the country from various Asian countries such as the Philippines, Indonesia, Japan, and Korea. This inbound tour will be aimed to deliver some specific and intensive amount of experience to the tourists. As per the business concepts of planned organization, Asian tourists will be catered primarily and exclusive and attractive tour packages will be offered to them at reasonable prices. There will be some unique and adventure tour, such as cycling tour from Queenstown to Southland will be offered to the customer so that their holidays can be made unforgettable. The primary value proposition of this business will be its customised designing for Asian tourists. The company will present unique ideas for its tourist for making their tour successful and memorable.
In existing scenario, business conditions and environment have been changed quite intensively as there are multiple issues such as increasing competition in the market and global economic volatility has imposed business organizations to adopt a number of different crucial strategic options. In this context, presented research work directs to reveal the some of the critical external business environmental issues faced by a business organization in commencing new business venture in existing challenging business environment. In this regard, the paper explores the concepts of inbound tourism and different environmental related factors that affect the viability of that sector within New Zealand.
Our Vision statement:
‘“To be a successful and reliable tours and travel company in providing international tour packages for its international and domestic customers, which is known for its customized and value added high quality services delivered to the customers”.
Our Mission statement:
‘Our primary mission is to project New Zealand as a place, where tourists can spend unforgettable vacations. The primary urge of the business activities performed by us is to provide world class facilities and convenience to the tourists so that they can have exclusive and value added experience during their vacations’.
The primary research problem is targeted to judge the viability of Inbound Tourism business activities undertaken within the territory of New-Zealand. For a business organization it is quite essential to keep a number of different factors in mind while designing any new product or service for a new or any existing market. In this regard, internal and external environmental audit becomes quite essential for a business organization so that any issue in effective operations of the company can be avoided. For this purpose, the research paper will deal with different environmental problems which are needed to be kept in the mind while designing a specific marketing plan for an inbound tour business venture undertaken within the territory of New Zealand.
Aims and Objective
The primary aim of this research problem is to reveal the impact of external business environment over potential performance of a new business organization in a new market. in order to accomplish this aim, there are some crucial objective of the research process, which are listed as below:
- To identify what are the major and critical factors related to external business environment of New Zealand which are needed to be considered by the business.
- To assess the viability of New Zealand’s tourism industry for a new business organisation on the basis of the analysis of its external environmental factors and internal business environment factors.
- To recommend some of the crucial strategic initiatives for new tourism company in the country to have successful business venture in a new market place.
The primary research question, which is to be answered in the research work, will be:
‘To what extent the tour package, especially designed for Asian tourist, offered by the company can be proved effective and successful for the company?
Rationale behind the Selection of the Research Problem
The presented research problem is quite broad and critical in existing period of time. for a business organization which is considering starting a new business venture within inbound tourism industry of New Zealand it becomes essential to have proper understanding of different external business environmental factors. In this regard, the proper investigation of the research problem will be proved quite effective for the organization to have knowledge regarding the most important and applicable business strategies can tactics. In addition to this, the presented research problem can be proved useful for the research as well because it can help in enhancing overall understanding regarding different concepts and theoretical aspects of marketing research before commencing a new business venture in a marketplace (Jafari, 2013). In this way, solutions of the presented research problem can be proved quite effective and rational in exiting business conditions.
Chapter 2 Literature Review
The literature review section of the research process is directed to reveal some of the crucial literary sources, such as books, journal articles, and research reports in order to prepare an effective conceptual framework for the research process. In relation to this, in the presented research work, the prime focus of the Literature review is on presenting different critical issues and trends along with some crucial opportunities prevailing in the inbound tourism industry of New Zealand.
Conceptual Framework for Tourism and its Rationale for Country
In the views of Evans, Stonehouse & Campbell (2012) inbound tourism can be reflected in the form of the number of foreign passengers that come to the country for short period of time. The author has stated earlier that from the perspective of long term sustainability of the economy of a country, inbound tourism industry can play an intensive role. In regards, inbound tourists is one of the major sources of accumulated national income, as it leads to provide some crucial earning sources for different other crucial related industries such as hotel industry, and transportation industry .
In addition to this, Woodside & Martin (2007) have added that Inbound Tourism is also a crucial source of intensive amount of foreign money for a country. In the international business scenario, a country can have strategic advantage of having foreign money. Well developed and prosperous inbound tourism sector is an indicator of the economic prosperity of that country.
In addition to this, Veal (2002) has also reflected that tourism sector is a business sectors on which, there are a number of different sectors dependent quite intensively. For instance, different business sectors, such as hotel industry, travel industry, handicraft industry, and other small scale manufacturing industries across the countries can also get affected by performance of tourism industry. Owing to this reason, the author has portrayed tourism as a significant growth of that country. In addition to the economic growth, Enz (2009) has also viewed tourism industry as an important industry from the perspective of cultural prosperity.
Inbound tourists bring their own culture and values in a different country. They mix their own values with that the values of that domestic country. Moreover, outside tourists also get chance to explore the culture and society of a new country. In this way, the inbound tourism also provides an intensive exposure to the culture of the country at international level, which is quite important from the perspective of the long term growth and sustainability of that culture. Furthermore in the views of the author, inbound tourism industry also leads to develop existing infrastructure and public utilities available within the country, which results into sustainable growth and prosperity of the existing society.
Tourism industry in New Zealand
In direction to this, in existing scenario tourism industry is one of the prominent business industries in the overall economic growth of the country. As per the report published by Statistics Department of New Zealand under Tourism Satellite Account: 2012, primary countries that supply inbound tourism to the country are Australia, People’s Republic of China, Japan, Republic of Korea, Singapore, Hong Kong (Special Administrative Region), Thailand, India, United Kingdom, Germany, United States of America, and Canada. Although visitors and tourists from small Asian countries like Vietnam, and Indonesia are also enhancing the inbound tourism profile of the country, yet still above mentioned countries are the primary suppliers of inbound tourist for the country.
In contrast to this, the Ministry of Business Innovation and Employment (2013) has projected that majority of Annual International arrivals in the country take place from 4 major countries, namely Australia, USA, China and Japan. As per the official report of the ministry, these countries have provided about 71% of international visitors to New Zealand in the year 2013. In addition to this, in comparison to last year, growths of 38% in the number of international tourists that have arrived in the country from these four prominent markets have been registered. The prime reasons of the visits of international tourists into the country are holidays, business activities and personal engagements of the tourists.
In addition to this, Tourism Industry Association of New Zealand (TIA) has indicated some crucial facts and key statistics regarding inbound tourism within the country in its annual report of 2012. As per the report, for the year 2012, tourism industry has been emerged as the largest export industry within the country. The industry has contributed $9.6 billion or 15.4% in the total foreign exchange earnings of the country. In addition to this, report has also implied that last year the indirect or direct contribution of the inbound tourism in the gross domestic product (GDP) for New Zealand was 9%, which made that sector one of the crucial business sectors of the country.
The sector has provided employment for more than 186,900 people within the country. Inbound tourism industry has made $64 million per day for the country in the last year. In addition to this, the total expenditure for the year ended March 2012 undertaken by tourism industry was reached to $23.4 billion, which is the major highlight of the industrial growth. In addition to this, the International tourism expenditure is expected to be enhanced quite intensively in near future. For instance, it is forecasted that by 2016, the overall International tourism expenditure will be grown by 2.7% and will reach NZD 6.59 billion. In this way, it is expected that the industry will become one of the major source of total domestic and international income for the country in the near future. In this way, it can be projected that the tourism industry will be one of the most lucrative business industries of the country (Tourism Industry Association, New Zealand, 2013).
Opportunities Prevailing in New Zealand for Tourism Industry
In context to this aspect, Whittingdale (2008) has presented some of the crucial business environmental factors responsible for the opportunities and growth for the tourism industry of a specific country. In the views of the author, like other business industries, tourism industry heavily depends upon government policies and regulations regarding migration of foreigners into the country. Easy Visa rules for foreign visitors prevailing within the country induce foreign visitors to come into the country. In contrast to this, strict emigrational policies and laws of a country make it difficult for foreign visitors to have tourism plan.
Along with this, cultural and social richness of a country is also one of the major aspects that attract foreign tourists in a specific region. This fact is elaborated quite intensively by Kerr (2003). As per the views of the author, for a visitor or leisure tourist, new cultural values of a country are the major highlights of his tour. The exploration of new culture, social belief and societal norms prove quite helpful in making the tour memorable and effective for the tourists. The author has put emphasis that for a tourism business organization, it is quite essential to pay some intensive amount of attention on the proper exploration of rich and unique cultural values of the domestic country while designing a new and effective tour packages for its inbound tourists.
In this regard, Rewi (2010) has specified that from the perspective of culture aspect, the tourism industry of New Zealand is quite rich and potential. The unique pacific cultural values possessed in the country are an important attractive feature for the inbound tourists of the country. The author has specified that country is quite famous for its indigenous Maori culture, which is an important aspect of cultural tourism prevailing within the country. In this context, the author has mentioned that majority of inbound tour operators of the countries explores the cultural uniqueness of the country by organizing Kapa Haka concerts and hangi i.e. feasts cooked in an earth oven) parties across different famous tourist destinations in the country.
In addition to this, in the views of Lennon (2003) technological advancements prevailing within the country are also one of the major attractiveness for the inbound tourists. Different crucial technological measures including highly technical and advanced infrastructure, and effective measures of transportatation available within the country also make the destination preferable for international tourists. It is due to the reason that highly developed and technological sound infrastructure and transportation within the country leads to provide some intensive amount of convenience and value added experience for the foreign travelers and tourists within the country.
In regard to this, International Monetary Fund (2009) has elaborated that New Zealand is regarded as one of advanced nations within the pacific region. Different cities of the countries such as Auckland, Wallington, ChristChurch, Queenstown and Southland are some of the highly advanced and developed cities within the country in which, tourists can found impressive accommodation, and transportation facilities. These cities are having effective and regular connectivity with major countries across the globe. Owing to this reason, inbound tourists within the country do not face any problem while staying and enjoying their vacations within the country.
Along with other factors, Turner (2005) has also reflected that weather and environmental conditions of a region are also an important determinant for the level of inbound tourism within the country. Countries that generally possess unpleasant weather and extreme environmental conditions are proved less attractive avenues of tourism for international tourism. Tourists generally select the destinations that are having pleasant weather conditions. In context to this, Rewi (2010) has elaborated that New Zealand possesses pleasant pacific culture, which provide value added experiences for the visitors. This factor has also been highlighted in the Baseline report presented by the Ministry of Tourism, New Zealand (2012). As per the report, different crucial and diverse natural landscapes as well as pleasant aquatic conditions are the major attraction for inbound tourists in the country.
Future perspective and potential of tourism in New Zealand
In the context of the potential of tourism industry within New Zealand, Cooper & Hall (2005) have argued that long term sustainability of any business industry depends upon its internal structure and external business environmental factors such as political conditions and support, economic development of the nation, social factors and technological advancement. In this context, the future of the tourism industry in the country like New Zealand is quite bright. The political structure of the country is quite stable and supportive for export industries like New Zealand. Moreover due to impressive technological growth and unique and diversified culture, the country is capable enough for inbound tourists in the most efficient manner. Owing to this reason, the author has anticipated some intensive growth of the industry in near future.
In support of this, Jones and Haven-Tang (2005) have also stated that operations and working culture of the tourism industry in New Zealand is quite structured as all the companies operating in the sectors are needed to be enrolled with Tourism Industry Association, New Zealand (TIA). The agency is responsible for governing the level of competition and different activities undertaken within the tourism industry country. The agency makes intensive rules and regulations responsible for effective management of inbound as well as outbound tourism within the country. In this way, before undertaking any strategy and policy, every tourism company is required to be aligned with the norms of TIA.
Opportunity Gap prevailing in the Tourism Industry of the country
Along with a number of different crucial opportunities prevailing in the tourism sectors, there can be some critical issues associated with tourism industry of the country. In regard to this, Kerr (2003) has highlighted that some critical micro economy related factors that have made the industry quite challenging for players. In the views of shortage of adequate amount of funds for the growth of the country can be considered prime opportunity gap for the industry. In existing period of time, the country has been evolved from global financial crisis. In this reconstruction phase of economy, it is not feasible for the government and other investors to make investment in this business sector.
Owing to this reason, lack of adequate amount of finance prevents the company to take adequate steps for the availing the opportunities in the most effective manner. Butler & Pearce (2004) have also elaborated that despite having some crucial opportunities for the growth of this business sector; lack of resources such as funds, technical resources, effective and efficient human resource are some of the critical factors associated with internal business environment of the country, which restricting country to avail adequate amount of opportunities.
Uysal & Williams (2013) have also elaborated that another critical issue faced by tourism sector of the country is the lack of effective and collaborative regulatory agencies for the purpose of keeping watch over performance of the tourism industry and resolving issues faced by it. Although, entire activities within tourism industry of the country is regulated by centralised regulatory agency, namely Tourism Industry Association of New Zealand (TIA), yet still due to diversify and various unreachable geographical locations, it will not quite easy for the agency to integrate tourism practices undertaken across the country. In this regard, lack of proper integration of tourism related policies and practices within the country can be regarded as one of the prime issues faced by the country. Schott (2010) has also identified that within the country, there is no any strong framework upon which, effective training and development can be delivered to the personnel for the purpose of preparing them for serving into tourism industry.
McDonald (2011) has also presented that the country is in transition phase in which, its economy is changing quite rapidly. In context to this, it is not quite possible for the giving special attention to a particular industry sector. There are other crucial and favourable business industries such as manufacturing industry, Real Estate, and banking industry, which contributes significantly in the GDP of the country significantly. For the government it becomes required to pay some due attention over sectors also.
Providing the conclusion over the entire findings of this section, findings of Kozak & Baloglu (2010) can be reflected. In the views of the author, for a business organization operating in tourism industry of any country, it becomes quite essential to have proper and adequate information regarding external environmental conditions. Before designing any crucial strategies and polices, the company must keep governmental rules and regulations, social culture and technological aspect of the country into consideration so that an effective tour package can be provided to inbound tourists of the country. In this way, different crucial literary sources reviewed in the section has reflected the role of external business environmental factors associated with tourism industry of New Zealand in the long term success of the any specific tour package for inbound tourists.
Chapter 3 Research Methodology
Purpose and Relevance of the Research Process
In order to judge the viability of Inbound Tourism business activities undertaken within the territory of New-Zealand, there is a need of having some explicit, realistic and practical data in adequate amount. For this purpose, an extensive research process is intended to be carried out. The prime purpose of this research process is to reveal some crucial data on the basis of which some effective and applicable assumptions regarding existing market trend can be established. Before commencing a new business it becomes quite essential for the business organization to retrieve some effective and relevant information regarding trends of existing market. The main objective of this research work is to deliver some crucial insights regarding a new inbound tour business commenced within New Zealand. For achieving this research objective, there is a need of having some in-depth and relevant data and information. In this regard, an effective and detailed research process would allow the researcher to do so. In context to this, the presented research process is reflecting high relevancy with the research requirements. For the purpose of accomplishing entire research objectives, the research process is detailed under different heading discussed as below:
The research design presets the flow and nature of the research work. The selection of effective research design helps in having the most effective and relevant data for the research work. There are different types of research designs, namely descriptive, experimental, and exploratory research designs are usually undertaken by researcher according to the requirements of the research (Rubin, & Babbie, 2010). In regard to the presented research work, exploratory research design has been selected as this can be proved the most suitable and aligned research design with the requirement of the research work. The exploratory research design put emphasis over exploring different real life phenomena with the help of differentiated methods and procedures (Creswell, 2003). In the same manner, exploration of existing business environmental conditions of New Zealand for a new inbound tourism business can be considered as a real life phenomenon that requires an in-depth information and understanding. In context to exploratory research design, the research work will include both experience survey and literature survey for the purpose of reveal some intensive amount of data related to the research context. In context to this, the research work will have both qualitative and quantitative research approach for the purpose of accomplishing objectives. In other words, both subjective and objective types of data will be taken into consideration in the research work. The subjective data will be revealed with the help of literature survey method while objective data will be revealed with the help of survey through questionnaire method.
Data Collection Method
In order to collect the most relevant data in adequate amount, there are two different types of data and collection methods have been taken into consideration in the presented research work:
Primary Data Collection Method
Primary data can be regarded as the data, which has not been retrieved yet by any other researchers, and scholars for their research work. Primary data is first hand data, which is generated from the personal experience, perception and attitude of related people. In direction to this, there are different methods such as interview method, survey through questionnaire methods, and observation methods, which are used for collecting primary data. For this research work, survey through questionnaire method has been taken into consideration. In this method, an intensive and focused survey with selected population has been conducted in which response of respondents have been collected with the help of a specific set of questions. This method has been proved effective in collecting quantitative types of data (Fowler, 2002).
Secondary Data Collection Method
Another crucial data included in the research work is secondary data. Secondary data is the data, which has already been retrieved, processed and used by other researchers and scholars for their research work. Basically secondary, data is retrieved for the purpose of revealing the existing theoretical State of Art of the research context. In order to reveal some relevant data for this research work, library research method have been taken into consideration. In this method, different books, journal articles, online research articles related to the research context have been taken into account.
These all the sources are considered as secondary sources. For this research work books, journal articles, and research and survey reports have been considered as the secondary source. These sources are selected for this research work as with the help of such sources, comprehensive amount of information can be taken into consideration, with the help of which research objectives can be revealed in the most effective manner. For the purpose of selecting then most appropriate and reliable secondary source, there are several criteria considered. For instance, the source should be published within last 5 years; it should be peer reviewed and authentic; and the source should provide some theories and concepts regarding tourism and its impact over economy of the country.
The method is based on the review of the pertinent literature, so previously proved facts and information has been obtained through this process. This method is directed to reveal some theoretical, conceptual, and qualitative data so that a strong base for the research process can be prepared (Willis, Inman & Valenti, 2010).
Rationale behind the Selection of the Research Process
For the purpose of extracting some crucial and effective data, there are two different types of data collection methods, namely survey through questionnaire and library research methods have been undertaken in the research process. There are several reasons behind selection of these two specific methods for data collection. For instance, survey through questionnaire method have been selected for collecting primary data as this method helps in collecting a significant amount of primary data without investing a lot of time and efforts. In addition to this, survey through questionnaire method allows the researchers to collect qualitative data on which more scientific and statistical methods of data analysis so that a reliable solution of the research problem can be revealed (Gliner & Morgan, 2000).
In addition to the survey through questionnaire method, library research methods have also been included in the research process. This method is considered as the most suitable and effective method for collecting secondary data related to the research context. It is due to the reason that with the help of this method, the research can understand different views and researches done by various researchers on a particular research topic (Jackson, 2008). This helps in making the research more effective, useful and contemporary. Moreover, with the help of this method, an intensive amount of data can be revealed without investing a significant amount of time and efforts. As information revealed with the help of this method is already processed, the researcher is not required to invest some intensive amount of efforts and time in the processing and refining of the raw data in order to convert raw data into meaningful and useful information (Hancke, 2009). Along with this, inclusion of this method in the research work can make the research more viable on theoretical perspective.
For the purpose of accomplishing the research objectives, there is a need of a specific, well explored, and systematic research process. In this regard, several specific steps have been undertaken in the research process. The first step of the research process is the population selection and questionnaire designing. For the research work, business development managers of different tours and travels agencies operating in New-Zealand have been taken into consideration as the target population for survey. After selecting the target population, questionnaire designing has been taken into consideration. For the survey, a questionnaire comprises of 10 closed ended questions have been prepared. The questions asked in the questionnaire are related to the personal experience and perception of business development managers regarding existing business environmental conditions of the country for tourism business (Bergh & Ketchen, 2009). In the questionnaire some crucial question about their experiences while commencing business in the country, country’s future growth and potential for inbound tourism industry as well as some critical issues associated with the industry is covered within the questionnaire. A copy of questionnaire is attacked as sample copy in Appendix
After this, selection of a small portion out of the entire population has been done so that the survey can be done without facing any difficulty. This portion is known as sample which contains the entire characteristics of the whole population. After the selecting the sample, all the potential participants have been contacted with help of their phone numbers and official E-mail Ids retrieved from telephone directories. While contacting managers, the purpose of the survey have been stated them, and they are requested to take part in the survey. After availing their consent regarding the survey, the framed questionnaire along with a cover later has been sent to the participants on their e-mail Ids. After sending questionnaire, all the respondents have been followed up on telephone.
Before undertaking survey, a small pilot survey has also been conducted with 5 respondents included in the sample so that viability of the questionnaire can be revealed. After collecting data, in-depth analysis of data with the help of two prime methods namely graphical data representation method and descriptive analysis methods, have been taken into consideration. An intensive discussion on the results of two different methods of data collection has been taken into consideration for revealing solution of the presented research problem.
In order to collect data properly, a well defined sample of respondents has to be selected. In this regard, random sampling approach has been followed for selecting appropriate participants for the research. Therefore, a random sample of 50 business managers operating in tourism businesses in the New Zealand will be selected with whom survey will be conducted.
For the purpose of ensuring the authenticity of the survey results there is a need of undertaking biasness less research process. For this purpose, random sampling methods have been used in the research work. For this purpose 95% confidence level has been selected. Moreover, the calculation of margin of error will be done with the help of the formula 1/√N, where N is the total number of participant.
The presented table is reflecting margin of error at different population size.
|Sample Size (N)
|Margin of Error (Fraction)
|Margin of Error
In the presented research work 50 respondents have been selected with 14.1% margin of error.
This sample is selected for the research work as business managers of tourism business organizations are required to be confronted with a number of different business environmental issues and conditions. Owing to their extended experience in the tourism industry, business managers can provide some crucial and effective information related to the research context. In The research processes random sampling techniques have been used in which, there is no any specific base for selecting sample out of the entire population. All the respondents are selected on random basis (Goddard & Melville, 2004).
Quality Testing of the Performance of Selected Tools
For a successful research work, there is a need of having an effective and efficient process. In this regard, frequent checking of the quality of the Performance of Selected tools such as questionnaire, and research procedure has been undertaken in the research work. For this purpose, in a pilot survey has also been undertaken within the research process (Sapsford & Jupp, 2006). In the pilot survey, a mock survey is conducted with five different randomly picked respondents out of all the 50 respondents. Through this pilot survey, the researcher was proved successful for assessing the significance and effectiveness of the questionnaire. This pilot survey has allowed the researcher to identify some of the common problems in filling the questionnaire that can be faced by all the respondents. Along with this, pilot testing has also proved helpful in identifying inductive approach of respondents regarding answering each of the respondents. On the basis of the results of this activity, redesigning of the questionnaire has also been taken into consideration so that questionnaire can be made effective and interesting for the respondents and their participation in the survey can be enhanced (Saunders, 2003).
Steps for Controlling Biasness in the Research
Biasness of the researchers and respondents can be regarded as one of the major shortcomings of the research work, which can put a question mark over viability and reliability of the research outcomes. The personal biasness of the researcher in selecting sample can affect the universality of the research work. For this purpose, the random sampling method has been selected for the purpose of selecting sample out of the entire population. The prime advantage of this method is that in this method, the researcher selects the participants in the sample without considering any factor (Creswell, 2003). The entire sampling takes place on random basis so that the scope of personal biasness can be restricted. In addition to this, at the time of analyzing of data, no any name, identity or personal information of respondents has been taken into consideration. Rather than mentioning names, specific codes have been allotted to each of the questionnaire so that fair and effective research can be conducted and the most reliable results can be retrieved. With the help of such crucial methods, the biasness of the researcher in the research process can be minimized up to a significant level (Denzin & Lincoln, 2000).
Validity and Reliability of the Research Process
Collection of data from survey method always paves a window for some ethical and validity related issues that can affect the outcomes of the research work. Sometimes, biasness of the researcher, hesitation of respondents and ambiguity in the questions can affect the validity and reliability of research results. In relation to this, while conducting survey, unbiased approach is followed, so that the data can be collected independently and synthesized perfectly to arrive at valid outcomes. Adoption of random sampling method and frequent follow up of the respondents are some of the vital efforts for enhancing the validity of the research process (Padgett, 1998).
In addition to this, there can be three cases, in which the validity of the research work can be harmed quite intensively. These are Chance of misinterpretation of information, biasness of the researcher, Complexities in the questionnaire which may lead to confounding of the information.
Secondary information is revealed with the help of literature review method. The limitation of literature review method is related to the validity and reliability of the secondary source selected for the critical review, which cannot be ensured perfectly. Therefore, most of the sources included for the review are identified from the journal articles, so that the reliability of the data source can be ensured (Jackson, 2008).
Chapter 4 Ethical and Cultural Considerations
For a successful research work, it is quite essential to be confined on ethical grounds also. In this regard, some critical ethical and cultural considerations for the research work can be illustrated under different heading presented as below:
Ethical and Cultural Considerations
Some crucial ethical and cultural constrains that can hamper the applicability of the research outcome, can be listed as below:
- The issues related to leak of the confidentiality of the identity of the participants included in the survey process are required to be resolved
- The manipulation in the data and information delivered by respondents.
- Plagiarism can also be identified as one of the critical and essential ethical considerations for the research work.
- Questions related to the cultural norms and social identity can also be proved as cultural constrains related to the research work (Kimmel, 2007).
For making the research work effective and viable on ethical grounds also, there are several crucial principles that have been followed in the research work:
- Voluntary participation: For the research work, there is no any kind of imposition is implied over respondents for taking part in the research process. The participation of respondents in the survey is purely voluntary.
- Anonymity –Anonymity of the participants have been maintained in the research process as no any kind of question is asked in the survey that can reflect the identity of respondents.
- Risks to participants – Some risks, such as manipulation of data, leak of confidentiality and anonymity, and misuse of information and data can also be emerged in front of the business organisations.
Measures taken to address Ethical and cultural issues
In order to address different ethical and cultural issues, several measures have been taken into account in the research work. For this purpose, before undertaking process of survey, the consent of every participant included in the survey is quite essential. For availing consent of the respondents, the respondents have been briefed about the objectives of the survey. For this purpose, a cover letter has also been enclosed with questionnaire sent to the respondent. Along with this, anonymity of the survey is also one of the prime concerns for this research work. For the purpose of maintaining high degree of anonymity, any person information of the respondents has been disclosed in the questionnaire (Maxwell, 2005). After the completion of the survey also the identity of respondents will be kept secret. At the time of analysis also, responses of each of the respondents are provided with different codes so that their secrecy can be maintained.
Identification of any risks to Participants and Data Security
Above mentioned ethical considerations are quite essential to be included in the research process because due to such issues, there can be a number of issue for the participants. For instance, lack of anonymity can be proved quite critical for participants as it prevent them to provide their responses on any critical questions. In addition to this, risk of disclosure of the confidential information related to the participants and survey process is also one of the prime areas of concerns for the researcher in the presented research work. In this regard, the privacy and security of the collected data is considered as the prime aspects of the research work. For this purposes, all the crucial and confidential information has been secured in a password protected folder (Marczyk, DeMatteo & Festinger, 2005). In addition to this, all the information will be used for academic purpose only. There will not be any professional use of such information. In this way, risks related to the survey can be avoided.
Chapter 5 Data analysis and results
Data analysis and result section will be an important chapter of presented research work, which will be targeted on revealing some knowledgeable and desirable results for the research work with the help of effective processing of the raw data. The analysis of the collected data can be undertaken under different headings discussed as below:
Method of analysis
After collecting some intensive amount of data with help of two prominent methods of data collection, i.e. survey through questionnaire method andLibrary research method, it is quite essential to undertake an in-depth analysis of data. The prime quest behind undertaking some crucial activity related to analysis of collected data is to convert raw data into a meaningful result. In addition to from the perspective of success of a research work, it is quite essential for the researcher to collect some effective and efficient methods of the research work. In the context of the presented research work in which, there are two different types of data are taken into consideration, two different methods have been considered for analyzing data and retrieving the most viable results of the research problem (Goddard & Melville, 2004). In context to this, these two different methods of data analysis can be detailed as given below:
- Descriptive data analysis
In order to analyze qualitative data collected with the help of library research methods, descriptive data analysis method will be the most suitable method of data analysis. Descriptive data analysis method allows the researcher to check the viability of crucial qualitative data collected in the research work on the basis of a theoretical framework developed with the help of different subject related theories and concepts. The descriptive data analysis method can be proved quite helpful for a researcher to have an in-depth perspective regarding the most likelihood solution of the research problem through close analysis of theoretical and conceptual data (Hancke, 2009).
- Graphical data presentation framework
For the purpose of analyzing the quantitative data collected with the help of survey through questionnaire, graphical analysis approach is followed in the dissertation. The approach implies that the graphical representation of all the responses of the respondents reduces the complexities in the understanding of the data. Further, the graphical method also allows the researcher to observe and understand the existing trend of the environment in the most effective manner. Further, the data generated from the graphical method also assists the researcher in the further process of statistical analysis of the data. In order to use this data analysis approach, all the data collected through the response of respondents in the survey process is reflected with the help of graphs and charts so that effective anticipation existing collective view of people regarding the solution of any critical research problem can be undertaken (Cresswell 2003).
Method of data handling and presentation
Along with analyzing, handling and presenting data is also one of the most desirable tasks undertaken with the research work. Data handling process aims to reflect the method used for the purpose of sorting and arranging different responses provided by respondents so that better analysis can be presented within the research process. In regard to this, within the research work, sorting of collected data will be done with the help of spreadsheet programs such as Microsoft excel so that it would be easy for the researcher to derive some crucial trends and findings with the help of raw data. For the purpose of maintaining anonymity and confidentiality of the survey, each of the response will be provided with a specific code (Gliner & Morgan, 2000).
Presentation of the collected data and its trends will be done with the help of graphs and charts. Different responses of the respondents regarding questions asked to them in the survey are plotted within a graph so that a reader can have better and effective understanding of the collected data and a specific trend related to such data. In direction to this pie chart method is selected as the most effective method of presenting data in the most effective manner.
Analysis of the data collected with the help of survey
In order to collect some effective, practical and quantified data related to existing business environmental conditions of New Zealand, survey through questionnaire method has been selected. In this method some crucial questions regarding research context have been asked to the business development managers of different tours and travels agencies and business organizations operating within New Zealand. For the purpose of analyzing data collected with the help of survey method, there is a need of undertaking graphical method. In context to this, responses provided by respondents can be presented and analyzed as given below:
|38 out of 50
|12 out of 50
On the basis of figure 1, it can be analyzed that the sample comprises of both male and female employees. Male employees (76%) are among the majority of the survey respondents and female employees (24%) are less.
|11 out of 50
|26 out of 50
|13 out of 50
Figure 2 it can be observed that 52% of the total respondents are from the age group of 31-40 years. The graph is also representing that 27% of the respondents aged between 41 and 50 years, while 21% of the respondents are aged between 21 and 30 years.In this way, it can be reflected that majority of respondents selected as the sample in the presented research work belong to middle age group.
|Less than 2 years
|7 out of 50
|12 out of 50
|26 out of 50
|More than 8 years
|5 out of 50
Figure 3 can be considered as a graphical representation of the working experience of the respondents included within the sample. As per the graph, majority of respondents (i.e. 55%) included in the survey process are having working experience of 5-8 years in tours and travels industry. In addition to this, about 25% of respondents are having working experience of 2-5 years in the related industry. Moreover, 15% of respondents included in the survey are having experience less than 2 years. In the same manner, remaining 10% of respondents are having experience more than 8 years in this industry. On the basis of the presented figure it can be revealed that majority of respondents included within the survey are having some significant amount of experience of tours and travelling industry of the country. This scenario is reflecting that response provided by such respondents can be considered quite crucial and authentic.
|Potentiality of tours and travel industry
|6 out of 50
|5 out of 50
|Yes, but only to a certain extent
|39 out of 50
The next figure is the graphical representation of potentiality of tours and travels industry of the country. On the basis of responses of majority of respondents (I.e. 79%),it can be said that in the emerging country like New Zealand, tourism industry can be proved quite potential from the perspective of economic growth and sustainability. In addition to this, there are 12% of total respondents who consider that there is a potential in tourism industry but the scope of this potential is quite limited as there are other crucial business industries that can provide immense economic growth to the region. There are only 9% respondents that have discarded the tourism sector as the most potential and effective business sector for the economy of the country. The presented graph is showing positive trends in the views of business managers operating within the country regarding potentiality of the tourism business sector for the country in the long run.
|Factors Affecting Industry
|3 out of 50
|Sound economic conditions
|2 out of 50
|Positive social culture
|2 out of 50
|Advanced technological measures
|2 out of 50
|All of them
|41 out of 50
The above presented figure reflects the perception of business managers of tours and travels companies towards some of the crucial factors that can affect their success and sustainability within the country. In the response of this question, several options, such as Political support, Sound Economic conditions, Positive social culture, and advanced technological measures, have been provided to the respondents. As per the majority of respondents, i.e. 82% of the total sample population, these all the factors are quite crucial in affecting success of tourism companies operating within the country. These all the factors are related with external business environment of the country, which can cast a significant impact over business practices and trends adopted by any business organization operating within different business organizations of the country. In the views of respondent, like other crucial business industries, tours and travel industry is also an important industry in which, the role of external business environment is quite high. Different organizations operating in the industry are required to align their business strategies and policies according to such crucial environmental factors.
|Effectiveness And Positivity Of Political And Government Rules
|29 out of 50
|12 out of 50
|Yes, but only to a certain extent
|9 out of 50
In addition to this, the above presented figure related to the perception of respondents regarding effectiveness and positivity of political and government rules for inbound tours business in the country. In relation to this, 58% of the total respondent has stated that they have experienced some favorable and positive stand of government and regulatory authority while commencing their businesses within the country. Moreover, 18% of the total respondents have revealed that governmental regulations are favorable for tourism industry, but only to a certain extent. There are several critical loopholes in existing rules, which can be proved harmful for the business organization. However, 24% of total respondents have stated that governmental rules and regulations of the country are not effective for the tourism sector and there is a need of some crucial improvements. From the perspective of a business organisation operating within New Zealand, the positive stance of the government can be proved quite helpful as favourable policies of government promotes the business operations of local companies.
|Effective of Culture and Social Diversity and Uniqueness of the Country
|13 out of 50
|23 out of 50
|1 out of 50
|10 out of 50
|3 out of 50
The above presented figure reflects the graphical presentation of the perception of the respondents regarding the fact that culture and social diversity and uniqueness of a country is the prime factor that attract inbound tourists within the country. In relation to this, about 27% of total respondents are strongly agreed with the fact and there are 46% of total respondents have shown their positive agreements over the significance of that culture and social diversity and uniqueness of a country for the growth of the tourism industry of that country. In contrast to this there are 20% of respondents who have considered that cultural and social dimension of the country are not enough significant for the growth of the tourism sectors. There is a need of having some crucial other factors for the growth of tourism industry. Moreover, 5% of total respondents have shown their strong disagreement to the notion regarding cultural and social diversity and its impact over tourism industry growth. Remaining 2% respondent are not sure regarding the answer of question and remained neutral. On the basis of interpretation of this trend, it can be stated the for the purpose of being an attractive tourist destination, the country is required to promote the uniqueness of their cultural and societal norms. For a business organisation operating in New Zealand’s tourism industry, unique cultural identity can be proved quite helpful and effective as it will lead to provide a unique advantage for the country.
|Investment on Infrastructure and facilities is Viable or Not
|26 out of 50
|9 out of 50
|It should be secondary priority for the government
|15 out of 50
The figure 8 represents the views of the respondents regarding the dilemma that whether making some huge amount of investment on infrastructure and facilities development should be the primary concern for the government of New Zealand for inviting inbound tourists within the country On the basis of the graph, it can be presented that majority of respondent, i.e. 52% of the total respondents have considered that infrastructure and facilities can be considered as one of the prime attraction for the tourism industry of the country. Owing to this reason, it would be essential for the government to make some investment in such facilities for enhancing the growth of tourism industry. However, about 30% of respondents have revealed that the government is required to keeping infrastructure and facilities development on second priority while making its investment plans. There are different crucial factors, such making of effective law and regulations, development of new tourist spots that are required to keep on first priority in its tourism development plan.
|Effectiveness of the Existing Institutional Administrative Structure
|8 out of 50
|11 out of 50
|31 out of 50
Figure 9 presents that level of effectiveness of the existing institutional administrative structure of the country for travel and tours industry. In the views of majority of respondents, i.e. 62% has reflected that existing institutional administrative structure of the country for regulating tourism industry is not as effective and compact as it should be. There is no any strong and competent governmental agency in the country for the purpose of regulating tourism business sector within the country. Along with this, about 15% of total respondents are satisfied with the existing institutional and administrative arrangements undertaken by government of the country. However, remaining 23% of total respondents considered that the level of effectiveness of existing institutional and administrative arrangements of the country is quite low, which require some significant improvements. On the basis of analysis of the entire solution of the graph, it can be revealed that New Zealand government is required to establish some effective and strong administrative framework for the purpose of addressing different issues related to tourism industry of the country. For a business organisation, effective administrative framework helps in preventing any critical issues in the working norms of the industry. Moreover, it also keep watch over fair competition prevailing in the industry.
|Effectiveness of technological development for attracting foreign tourist
|40 out of 50
|8 out of 50
|2 out of 50
Figure 10 describes the gut feeling of the respondents regarding the fact that whether New Zealand is having effective technological developments that can encourage foreign tourists for comings into the country. On the basis of the analysis of the graph it can be revealed that there are 80% of respondents who have shown their positive intention regarding technological development of the country for tourism sector. As per their views, the country is having some intensive technological development which can attract inbound tourists. In addition to this, about 16%of total respondents consider that there is more scope in the field of technological development within the existing scenario from the perspective of tourism sectors of the county. Remaining 4% of respondents could not able to take a specific stand on this issue. In all, it can be interpreted that from the perspective of technological advancement, New Zealand has a strong profile that can attract different inbound tourists from Asian, American and European regions.
Along with such closed ended questions, the questionnaire designed for this survey trial also consists of two prime open ended questions so that scope of providing detailed responses regarding any issue. In this context, first open ended questions asked to the respondents is directed to reveal three major external environmental factors that support inbound business within the country. The response of this question, majority of respondents has identified that favorable governmental norms and liberal immigration regulation for inbound tourists can be considered as one of the prime positive factors associated with the country’s tourism sector. In addition to this, second positive factors considered by the majority of respondents is the versatile, diversified and unique culture of the country also attracts inbound customers from the entire world. In the same series, effective infrastrure development and better transportation facilities and connectivity with the entire world would be considered as another crucial factor of the external business environment of the country that enhances the potentiality of tourism industry of the country.
In the same regard, second crucial open ended question asked from business managers of tours and travel companies is related to the exploration of different issues faced by New Zealand government in enhancement of the bound industry of the country. Among such issues, lack of a unified, strong and independent agencies and administrative authorities, which can be able to resolve different issues related in the tourism industry. In addition to this, another crucial issue is related to the need of intensive amount of funds and manpower for developing inbound tourism industry in the most effective manner. Moreover, the government is also require to address different issues related to handle high degree of foreign immigration within the country due to enhanced number inbound tourists after adhering different positive strategies and policies.
On the basis of the analysis of the entire analysis of the data collected from the survey, it can be reflectedthat in existing period of time, the overall external business environmental conditions are quite favorable from the perspective of tourism industry. The existing political and governmental regulations, cultural profile of the country and future infrastructural and technological growth potential of the country are making country as an effective and desirable tourist destination for tourists across the globe. Owing to this reason, it can be revealed with help of data collected from the survey that inbound tourism business venture can be considered as a potential and effective business ventures for a new business organization.
Analysis of data collected with the help of literature review method
For the purpose of revealing some detailed and conceptual information regarding the context of the research process, library research method has been used. As per this method, an intensive and critical review of different crucial literatures available in the library has been done within the research work. The prime quest of the literature review process undertaken within the research work is to find out some effective conceptual findings related to the existing business environmental conditions for tourism industry.
In context to the viability of tourism industry of the country, different literatures have reflected that tourism industry can be categorized as an export business industry which leads to bring foreign money in the country. From the perspective of treasury and economic growth of the country, inflow of the foreign money is quite essential and crucial phenomena. Owing to this reason, effectiveness of tourism sector of the country becomes one of the most crucial priorities for the local governmental and administrative authorities. Owing to this reason, different literatures and authors have suggested governments of different countries to put some intensive amount of attention and considerations on tourism business sector in their strategic and regulatory planning (Weidner, 2009).
Along with this, literatures considered for the review purpose in the literature review section of the research process, have highlighted that consideration of external business environmental factors can be considered vital in the success and sustainability of any business industry and organization operating within the country. External business environmental factors can be considered as the factors that are not directly related with internal processes and business activities of the organization but can affect such organizational processes in the most effective manner (Collier, 2011). Different crucial aspects such as political conditions of the region, governmental rules and regulations, existing and potential economic growth of the country, social acceptance of the product and service offered by the company, and technological advancement of country, can be considered quite crucial factors that are required to be considered for a new business organization while starting a new business venture in a new geographical location. Along with this, different literatures have also considered such external environmental factors as country or area specific factors. In other words, the nature and implication of different external business environmental factors can be varied according the country specific business conditions. Owing to this reason, intensive marketing research is required for the company every time while entering into a new market place.
For this purpose, literatures have suggested a conceptual framework, namely PESTLE analysis framework, which can be proved quite helpful for business organizations to check the external environmental viability for a new business venture within the country. This framework put emphasis on checking six specific dimensions of the external business environment of a particular region. These dimensions are political conditions, economic viability, social and cultural acceptance, technological advancement, legal validity of the business operations, and environmental viability of the business operations (Baum, 2012). The analysis of these crucial dimensions can be proved quite effective and desired for a new business organization, which wants to commence a new business in a new geographical location.
In regard to this, the prime focus of the literature review section of the research work is to reveal the viability of a new inbound tourism business within territory of New Zealand. Owing to this reason, various literatures related to political scenario, economics, cultural richness, and technological advancement of New Zealand have been reviewed in the literature review section of the research process. The recommendations of different literatures reviewed within the research work, it can be revealed that existing business environment for the tourism industry is quite positive and supportive (Rawlings-Way, Atkinson & Hunt, 2009). Existing stable political conditions prevailing in the country and extensive support provided by the government for new business ventures including inbound tourism, providing a positive and favorable scenario for the new business organizations.
Along with this, the country is also considered a cultural rich country. As per the different literatures, indigenous Maori culture of country provides a unique identity to the country across the entire world. People come in the country from across the world to have an intensive experience of a new and unique culture of the country. In regard to the tourism industry of the country, the cultural uniqueness of the country can be proved quite positive factor. For a new business organization, it can be proved quite effective to endorse the unique culture of the country for the purpose of designing new inbound tour business and schemes for the company.
In addition to this, from the perspective of technological advancement of the country and infrastructural development of the region, the existing scenario of the country is quite positive and favourable for the new business organization. In relation to this, different literatures have reflected that infrastructural development and transportation facilities are quite crucial for attracting inbound tourists towards the country. Owing to this reason, the government of the country is focusing towards making more effective and crucial infrastructure and transportation facilities for customers who come to the country. These all efforts made by the government are directed to make the country as an effective destination for international tourists across the globe (Rewi, 2012).
In this way on the basis of analysis of different literatures, it can be illustrated that existing business conditions of New Zealand for tourism industry are quite favourable. In regard to this, for a new business organization operating in tourism industry it would be proved quite favourable and positive to start a new business venture in existing favourable business conditions.
Discussion on the finding of both the methods
In order to reveal the viability of existing business condition of New Zealand for tourism industry, two different methods of data collection, i.e. survey through questionnaire and literature review method have been used. On the basis of analysis of data revealed with the help of these crucial methods, there are a number crucial finding has been revealed. For the purpose of revealing different positive aspects of existing business environmental factors for a new business venture related to inbound tourism, and accomplishing all the research objectives, there is a need of having an in-depth discussion over the findings of both the methods so that a comprehensive and reliable conclusion of the entire research work can be revealed.
In context to this, findings retrieved with the help of literature review and survey method are quite compiled with each other. For instance, findings of both the methods have revealed the significance of tourism industry for the economic development of a country. In the context of New Zealand, the positive role played by inbound tourism has been articulated in the findings of the methods. Like other crucial export related business industries, growth tourism industry can be proved vital in enhancing inflow of foreign money within the country (Jolliffe, 2012). This fact is accepted by majority of respondents surveyed in the research process. Moreover, there are several crucial facts and figures disclosed by different literatures reviewed as the source of secondary information, which reflects the highly positive growth attained by the tourism sector within the country. On the basis of the integration of the findings of both the data collection methods, it can be reflected that the government of the country is required to pay a significant amount of attention towards the betterment and development of business conditions for tourism industry within the country.
Along with this findings related to viability of New Zealand for inbound tourism shown by both the methods are also quite correlated with each other. In regard to this, different business managers employed in tourism business organizations of the country have stated in the survey, generally overall business conditions prevailing within the country remain quite positive for the growth of businesses like tours and travels. Owing to this reason, tour and travel industry can be considered as one of the rapidly increasing business industry in existing period of time. In the support of such views of respondents, there are different literatures, such as Baseline report 2010 presented by Ministry of Tourism, New Zealand (2012) and some Key Tourism Statistics presented by Ministry of Business, Innovation and Employment (2013), which has provided some clear facts and Statistics regarding growth of the tourism industry within the country.
In addition to this from the perspective of cultural richness and uniqueness of the country, findings retrieved through graphical presentation method have reflected the majority of respondents considered that cultural diversity and uniqueness can be considered as a vital factor for the country for attracting a large number of inbound tourists (McClure, 2004). This fact has also been explored in the context of New Zealand culture within literature review section of the research process. The literature review section has reflected that some unique norms and aspects of indigenous Maori culture of country can be proved quite effective and desired from the perspective of long term success of the tourism industry of the country.
In relation to the infrastructural development of the country, findings of both the methods are quite interrelated. For instance, majority of respondents have revealed that technological development of the country can be considered as one of the major highlight of the country, which attracts the tourists from foreign country. In the same manner, different literatures reviewed in the paper, have reflected that in existing period of time, overall technical competencies of the country are quite effective and high, which prepare a positive platform for the growth of tourism industry of the country in future perspective.
In addition to this, the research work has also reflected that for a new business organization, which wants to start a new business practices regarding presenting inbound tours for tourists from outside the country, existing business conditions within the country are favourable. However, there are several crucial issues which have been highlighted within the data collected with the help of survey through questionnaire. Different issues like lack of strong administrative authorities, and requirement of intensive amount of budget and man power are some of the critical issues for the long term sustainability of the tourism industry (Leotta, 2011).
In all on the basis of this discussion, it can be stated that for a new business organization operating within the country it is essential to keep different external environmental consideration in mind before starting a new business venture within the country. Such crucial external business environmental factors present different opportunities and threats in front of the organization that determine the success and sustainability of the country.
Chapter 6 Conclusion
External business environment can be considered as one of the prime determinant of the efficiency and effectiveness of the business organization within a specific market place. The presented research paper has thrown some intensive amount of lights over analysis of business environment of New Zealand for tourism business industry. In context to this, the prime quest of the research paper is to reveal the viability of the Market of New Zealand for a new inbound tour related business activities. On the basis of analysis of different research findings and data collected from various sources, it can be concluded that in existing period of time, business environment of New Zealand is quite positive and favorable for inbound tours and travel industry. The trend of the growth of the industry as shown in the paper has reflected that recent a few years has been quite exceptional for tourism industry of the country as there is a significant amount of growth in the market share of tourisms companies, and contribution of the industry in the overall GDP and economic growth of the country. Along with this, in recent years attitude of government of the country has also become quite positive for the growth of inbound tourism within the country, which has prepared a positive platform for the growth of Tourism industry in the country.
On the basis of analysis of the findings it can be reveal that that in starting the company should adopt market skimming strategy. In the strategy, the company should focus on a niche market, i.e. Asian tourists. For this purpose, the presented research has projected some of crucial strategic measures listed as below:
- In the marketing campaigns of the company the management should focus on highlighting some of the unique cultural values of New Zealand so that overall value of the money paid by the customers can be enhanced
- The company can also promote advanced technological infrastructure to promote NZ as a convenient and memorable avenue from the perspective of leisure tourism.
- In addition to this, the company can also provide information helpful and supportive laws and regulations for the purpose making the perception of global tourists positive regarding as tourists spot.
The presented research work has been proved quite successful in answering the major research question for answering of which, this entire research process has been undertaken. The primary research question asked in the research work is ‘To what extant inbound tourism business can be proved as a successful business venture within territory of New Zealand?’ The findings retrieved with the help of data analysis and discussion can be proved quite effective in answering this research question in the most effective manner. The research work has revealed two prime aspects of this research question, i.e.
- Inbound tourism can be understood one of the most essential and crucial business activities for a country as it allows the country to earn foreign money.
- In New Zealand, overall business conditions including political, economic, cultural, and technological factors are quite supportive and positive for the inbound tourism related business activities commenced by a new business organization within the country.
On the basis of such findings, it can be cleared that for a new business organization which is planning to sell some new tour packages for inbound tourists, this will be an ideal condition. Making investment in this business can be proved quite effective and profitable for the company in the long run. From the perspective of overall economic growth of the country also, this business venture can be proved quite effective and crucial. However, there can be some institutional and administrative issues faced by the inbound business industry in existing period of time, which are needed to be addressed in the most effective manner for the purpose of making tourism industry as the most crucial and lucrative business industry within the country.
For business organizations which are planning to get entered into the tourism industry, it can be recommended that they should have proper analysis and information regarding different type of problems and opportunities prevailing within the market of the country. They should prepare a strong plan and effective strategies before getting entered into the tourism industry in the most effective manner.
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