“Hospitality is the art of making others feel welcome, comfortable, and cherished.” – Anonymous
The service industry – those that are not directly involved in the production of physical goods – has several subsections and the hospitality industry is one of them. The hospitality industry has four main areas: food and beverage, travel and tourism, lodging, and recreation.
The food and beverage category includes restaurants, bars, and food trucks while travel and tourism covers different forms of transportation and travel agencies. Lodging varies from hotel resorts to hostels. Recreation has something to do with leisure activities such as sports, wellness, and entertainment.
Origin
American first lady Eleanor Roosevelt once said, “True hospitality consists of giving the best of yourself to your guests.”
The word hospitality is derived from the Latin word hospes, which means host (one who provides lodging or entertainment for a guest or visitor). As such, hospitality has its roots in ancient history. The ancient Greeks used the word xenia to define the sacred rule of hospitality: the generosity and courtesy shown to those who are far from home or associates of the person bestowing guest-friendship. Even if the guest is away from home and surrounded by strangers, he or she still feels welcomed.
Current Situation
“Along with the overall economy, the global hospitality industry has enjoyed a spurt of massive growth over the last decade since the end of the financial crisis,” says the Switzerland-based EHL Hospitality Business School. The World Bank reported that the global economy has grown at a pace of more than three percent per year up until the global pandemic hit at the beginning of 2020.
But the hospitality industry bounces back. “Overall, international arrivals reached 80% of pre-pandemic levels in the first quarter of 2023,” the United Nations World Tourism Organization (WTO) reported. “An estimated 235 million tourists traveled internationally in the first three months, more than double the same period of 2022.”
