MANAGING in the

NEW WORLD

International travel is proving to be the microcosm for the shift in global economic power. While southern Europe including Spain, Greece, Italy and Portugal reels under its worst economic crisis for decades, tourism is providing some hope through the generation of multiple travel jobs. While business analysis had indicated that tourist numbers were to go down in the wake of the economic crisis, it is a new set of tourists who have altered market dynamics bringing relief. The new tourists are typically not from USA or the traditional developed world, but instead from China, India, Russia, Brazil, South Korea or Turkey. These countries have a new wave of middle class which wants to travel and flaunt their wealth often at massive environmental and cultural cost to the destinations. Cities such as Rome, Venice, Barcelona and Sevilla have now inserted regulations to curb excessive uncontrolled tourist inflows.

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