The travel industry is experiencing unprecedented growth, and the numbers speak for themselves. Statista’s data reveals a staggering GDP of 9.9 trillion dollars for the travel and tourism industry in 2023, painting a promising picture for professionals in this field. The global job market in travel and tourism has been on an upward swing from 2019 to 2024. This substantial growth undoubtedly indicates a thriving industry, but professionals in this field must also steer it in the right direction.
Consumer preferences and behaviors are changing, and this is where research becomes vital. Deloitte’s findings suggest consumers increasingly opt for affordability over convenience when choosing flights. This shift in consumer mindset necessitates a deep understanding of their wants and needs. With 53% of consumers globally showing a growing interest in sustainable travel due to the climate crisis, it’s clear that businesses in the hospitality and tourism sector must adapt to these changing tides.
The online Master of Business Administration (MBA) with an emphasis in Hospitality and Tourism Leadership program from the University of West Florida (UWF) is leading the charge in providing future leaders with the necessary skills to anticipate change. The program provides graduates with foundational knowledge to succeed in the field and drive innovation through research, which is integral to success in the hospitality and tourism industry.
Tourism and Hospitality Research
The importance of research in this industry cannot be overstated. It is the compass that guides decision-making, allowing professionals to navigate travelers’ changing preferences. By conducting new research and analyzing existing data, professionals gain valuable insights into consumer behavior. Ultimately, this helps them tailor their services to meet the needs of their target audience.
One of the key strengths of UWF’s online MBA – Hospitality and Tourism Leadership program is its emphasis on using data, evidence and analytics to make informed decisions. Skills in these areas allow hospitality and tourism professionals to conduct and analyze research to make critical business decisions. For example, courses like Quantitative Methods for Business, Business Analytics, and Hospitality Financial Analysis & Revenue Optimization all emphasize the value of using research — in the form of data and statistics — to make decisions.
Research and appropriate information management is also critical for understanding the needs of travelers and making informed decisions in the hospitality and tourism sector. UWF’s program not only emphasizes research but also integrates it into the broader context of hospitality and tourism management. Graduates have the knowledge and skills to foster businesses that utilize market research, analyze consumer demands and measure the changing demands of travelers.
What’s Next for Research in Hospitality and Tourism?
The growth of the travel and tourism industry presents immense opportunities for professionals in this field. The shift towards affordability and the increased interest in sustainable travel underscores the importance of research in those areas.
Accredited by the AACSB, UWF’s online MBA – Hospitality and Tourism Leadership program recognizes this need and provides graduates with the skills to conduct and analyze research effectively. As the industry continues to expand, professionals with research skills and a global perspective will be best positioned to lead the way with modern technology and strategies.
Learn more about UWF’s online MBA with an emphasis in Hospitality and Tourism Leadership program.
