What’s it like to work in one of the world’s biggest, most profitable industries: the hospitality industry?
Hospitality management is a very large sector: from food and beverages to cruise ships, hotels and spas - but how does it feel to work in hospitality in 2018?
A booming sector
As the global economy continues to struggle after years of recession, the hospitality industry is booming. People working in hospitality management enjoy comfortable salaries and good job security. Graduates with a degree in hospitality management working in travel and hospitality services earn average salaries of US$73,100 in the US, according to PayScale.
Hospitality also keeps on being the second fastest-growing industry in the world after healthcare.
By 2025, a large part of the world’s jobs will be in this specific industry (10.5 percent), contributing as much as US$11.3 trillion to the world GDP, according to a recent report.
Indeed, as new technologies threaten many careers, hospitality positions are expected to survive the dangers of automation. A report by Fortune looked at jobs most likely to be automated and found that roles which involved “interacting with customers” and “managing people” had the lowest risk to be replaced by technology.
Human interaction is at the heart of hospitality so, while new devices like virtual reality may complement customer experience, machines will never replace a human face.
The world’s happiest industry
In TINYpulse’s survey of the world’s 10 happiest industries, hospitality was ranked sixth.
Why is everyone so pleased? Well, as the industry has traditionally had a high turnover rate, many companies have really tried to improve people’s welfare in the workplace.
Cherie McGill, executive director human resources at Mantra Group, told HRM (Human Resources Management): “Our training is flexible because we expect flexibility. Our training can be completed on a laptop, a phone at work or at home.” This focus on personal development is great news for anyone interested in joining this flourishing industry.
The positive impact of digitalization
In 2016, more than half of travelers who booked trips online did so using a mobile device according to a report by Hospitality.net. As a result, travel agencies have had to integrate big data analysis and online services into their business model to keep existing on a very competitive market.
Like hospitality businesses, students interested in working in the hospitality industry need to gain competences in order to be efficient in a digital economy.
Where better to gain those skills than on our MSc in International Hospitality Management? This full-time program will take you to key locations to learn about the global hospitality industry: Lyon, Paris and Shanghai completed by a practical experience of 4 to 6 months.
Find out more about this program here.
Source: this article was originally featured on TopUniversities.com
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