Pestle for contemporary issues Essay Example | Topics and Well Written Essays - 500 words

Pestle for contemporary issues - Essay Example But if the political equations are like the ones’ prevailing amongst some of the nations in the Middle East or the gulf region, it adversely affects the hospitality sector. Similarly we must not forget the deep cut in hospitality industry in the aftermath of 9/11. Economic: Today we are in an era when the power of a nation is being assessed not by its military arsenal but by its economic strength instead. Economic factors have forced many traditional rival nations to adopt friendly policies in order to have better economic exchanges. Such understanding leads to firming of business partnerships, furthering market friendly policies and encouraging visits of business tycoons. Business summits, seminars, expositions, meetings too augur well for the hospitality industry. Socio-cultural: If two nations have similar socio-cultural patterns, mutual understanding and cultural exchanges amongst the citizens, the hospitality industry will be happy to host a number of visitors from across the borders. Similarly, if there are lots of cultural activities within the country, even then the hospitality industry benefits a lot. But if the society adopts some kind of preventive measures or the cultural heritage is not allowed to bloom, the hospitality industry is bound to suffer. Technological: Technology is indeed redefining the way we interact, we travel, we offer our services etc. Considering the good old days when there were no aeroplanes, ships used to take months to complete intercontinental journeys. But today, supersonic jumbo-jets have reduced this travel to some hours. Similarly, the facilities that have been offered by the information technology have brought the world closer. Now one can plan of his visit to Beijing for the Olympic games, by sitting in his home in London. The hospitality industry of China will be happy to him during the game by making all arrangements well in time. Legal: The law of