Published on : Jul 12, 2016
ALBANY, New York, July 12, 2016: A recent market research report added to the vast portfolio of ResearchMoz.us examines the different ways in which travel and tourism companies are implementing sustainable practices. The report is titled “Sustainability in the Travel and Tourism Industry: Emerging Trends, Organizations Approach and Travelers Viewpoint.”
The report highlights the current status of sustainable practices being undertaken by major organizations operating in the global travel and tourism industry. Importance of a variety of green initiatives and sustainable measures and the major drivers of sustainable practices are also discussed at length in the report. The document also analyzes how the factor of sustainability is influencing travelers’ selection for transport choices, hotels, and meals. From primary research, data regarding travelers’ views about the additional costs that are incurred for staying at green lodging facilities have been gathered. Moreover, major challenges towards the widespread implementation of sustainable practices are also identified in the report.
According to the research, the majority of companies in the global travel and tourism industry have already started adopting sustainable practices. The major factors encouraging travel and tourism companies to observe sustainable practices include the rising focus on improving efficiency, reducing overall operational costs, and need for minimizing the carbon footprint of their activities.
Travel and tourism companies are of the opinion that green initiatives and sustainable practices are a social responsibility and are important for their businesses in many ways. Adhering to a sustainable approach while undertaking several activities and operations can help companies in improving their brand awareness and gaining competitive advantage in the market.
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Despite the high costs that are involved in the implementation of sustainable practices, companies can witness a sizeable reduction in overall operational costs and the waste produced. Improvements can also be observed on fronts such as worker productivity, which has a positive impact on the profit margins of companies in the travel and tourism industry. The report states that nearly 47% of executives have agreed to pay up to 10% more for staying at a lodging facility that observes green and sustainable practices.
The report also recognizes how companies are projected to change their sustainability management budgets over the next two years. The potential impact of observance of sustainability on the overall profitability of travel and tourism companies is also analyzed at depth in the report. World’s major sustainable hotels are also identified in the report.
Compiled with exhaustive information on the travel and tourism industry, the report makes for a document that can help companies and decision makers in designing their business strategies to stay ahead in the intense competition. The vast data could also help vendors gain a competitive advantage by adhering to the most profitable and reliable sustainability practices.
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