The hospitality and leisure industry sectors are highly sensitive to economic and competitive market conditions and are capital, management, marketing, personnel, energy, maintenance, and technology intensive.
Demand and consumer expectations have continued to expand with the evolution of a global marketplace and the increased development of a population desiring additional conveniences. Hospitality and leisure companies can only meet the challenges of today’s world market by understanding, and establishing strategy to address, consumer trends, economic conditions, technology, competition and concerns for public safety.
Importance of this sector to the local economy
Tourism is the leading services activity in terms of employment and is a key foreign currency earner. As at June 2009, this sector employed circa 10,000 people, which corresponds to 6.8% of the gainfully occupied. In January to June 2009, gross earnings from tourism accounted for 12.1 per cent of exports of goods and services.
How can PwC help
PwC provides advice and know-how to hospitality and leisure owners, franchisors, management, lenders, investors, creditors, business organisations, government entities, local authorities and product and service providers. Our professionals fully understand the underlying dynamics of the market, and are able to provide various services to clients engaged in the hospitality and leisure industry sector, including: