Sustainability in the Travel and Tourism Industry: Emerging Trends, Organizations Approach and Travelers Viewpoint
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The majority of travel and tourism companies have already initiated sustainable practices. The focus on reducing costs and improving efficiency, and minimizing the carbon footprint, are encouraging organizations to implement sustainable practices. Travel and tourism companies state that sustainable measures and green initiatives are important for their business prospects, and aim to utilize sustainability to enhance brand awareness and increase their competitive advantage. Despite the high costs involved in implementing sustainability measures, sustainable practices reduce operational costs, decrease waste, and enhance worker productivity, which ultimately boosts the overall profit margin of travel and tourism companies. Travel and tourism companies strongly agree that consumers would pay 10% more to stay at a green lodging facility.
Scope
• Improvement in efficiency and cost reductions are encouraging organizations to implement sustainable practices
• The majority of organizations have implemented energy-efficient lighting and the regular monitoring of electricity/gas/water consumption
• The highest percentage of executives forecast an increase in their organization’s profitability with the implementation of sustainable practices.
• The survey results reveal that 47% of executives either strongly agree or agree to pay 10% more to stay at a green lodging facility.
Reasons to Buy
The report provides information about potential impact of sustainable practices on organization's profitability. This will help organization to develop future business plans
The report assists readers in making strategic decisions by understanding the significance of sustainable measures and green initiatives for business prospects over the next two years as highlighted by organizations
The travel and tourism industry executives will be provided with level of implementation of green initiatives and sustainability practices
The report highlights Impact of sustainability in travelers selection for hotels, transport and meals, and identifies travelers opinion about incurring additional cost for staying at a green lodging facility
The report helps industry executives to redesign business strategy by providing information about expected change in sustainability management budget over the next two years and major barriers faced by organizations towards implementation of sustainability measures
London Heathrow Marriot
The Kempinski Hotel
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