One of the major changes that the business world has experienced in the last few years has been in the evolution of the CFO’s role. While the Chief Financial Officer was earlier, merely supporting the CEO, now the person drives the major business decisions. A study conducted by management consulting giant McKinsey delivered some key insights regarding the finance function as of now. One interesting trend emerging is how now there are several cross- functional roles. Soft skills have also now become important for finance professionals, earlier associated purely with the juggling of numbers. Technology has helped evolve the role of the CFO even more. Now, most accurate real- time business intelligence is available on the performance of various brands. Automation, data visualization, robotics and analytics form key part of the technology suite.

Source:https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-evolution-of-the-cfo

Uploaded Date:29 July 2019

Georgia’s tourism potential remains somewhat untapped thanks to its border disputes with Russia. The two countries were engaged in a brief war back in 2008. While relations have somewhat improved, the perverse effects stick on to the country’s tourism potential. The closure of airports and air space to one another is a routine occurrence. Inbound tourism suffers as a result. Consequently, there is a dearth of the real travel jobs. The people of Georgia have registered several peaceful protests against this. The tourism authorities have now taken to Facebook in order to boost the digital marketing efforts in bringing in tourists to the country. A low cost travel company from Hungary has already joined in the efforts, confirming to bring in tourists, thus boosting the morale of the authorities.

Source:https://www.tourism-review.com/georgian-tourism-suffers-news11120

Uploaded Date:29 July 2019

A number of destinations across the globe levy a certain tourist tax. This is usually incorporated within other costs such as airline tickets, visa charges or entry fees at popular tourist attractions. A tourist tax is levied in order to maintain the additional infrastructural burden that falls on such popular destinations. Now, increasingly a tourist tax is becoming the norm. While France and Italy long had this, Spain has also joined in. Similar taxes also exist in other European countries such as in Switzerland, Portugal, Austria, Romania, Greece and Belgium. A few states in the USA too have it. One country that has taken this business innovation to a whole new extent is the UK. Here, the costs are prohibitively high, but to be fair, the amenities covered are also far more extensive. The tiny Himalayan kingdom of Bhutan meanwhile uses this additional income to keep alive its heritage.

Source:https://www.tourism-review.com/tourist-tax-all-around-the-world-news10978

Uploaded Date:29 July 2019

The idea to transform oneself into a smart tourism destination is a highly attractive one. Several destinations are trying the same. Some hacks have been identified that will help any destination reach that level. First of all, there must be an official tourist information centre, for seamless dissemination of travel related info. The place must provide free Wi-Fi. It allows tourists to use social media, while travel companies can leverage this for conducting their digital marketing. As part of online marketing, specific mobile apps could also be curated catering to the destination. Virtual or Augmented Reality suites need be integrated with the advertising platform. Adequate health and safety services need be present at the site. Especially for an urban destination, but even for the others, the right mobility support need be there.

Source:https://www.tourism-review.com/how-to-become-a-smart-tourism-destination-news11123

Uploaded Date:23 July 2019

The Statue of Liberty has been the symbol of New York City and perhaps for the entire country of the USA, since it was opened up one- hundred and thirty years back. More than four million people visit this each year, but not all can reach up the parapet due to limited space. Now, a museum has been opened up right next to it, to facilitate the same. This business innovation cost around a hundred million dollars. The museum’s star attraction is the original torch which was removed in 1984. Information boards, showcases and films are part of the museum.

Source:https://www.tourism-review.com/new-museum-dedicated-to-lady-liberty-news11068

Uploaded Date:20 July 2019

With Brexit looming round the corner, opinionists are divided on the exact nature of the same. People are not sure on the exact relationship the UK will have with the EU members. This will also have an impact on tourism, especially with the nearest neighbors in France and Ireland. One area of concern is travel insurance. This had long ceased to be any worry, as the travelers from the UK the European Insurance Halth Card (EHIC). The EU consumer rights laws also protected them against any cases of fraud. Now tourism consulting agencies are gearing up to provide the citizens of the UK, information regarding travel insurance, as many are fretting over the same. Post- Brexit, many worry that UK citizens could lose their protection against travel cancelations and disruptions.

Source:https://www.tourism-review.com/post-brexit-reminder-travel-insurance-for-british-tourists-news11116

Uploaded Date:20 July 2019

Cuba has long been known for its sun and sand tourism. But now, it is diversifying towards heritage tourism. Overall, as per business intelligence supplied by the authorities, there has been an increase in inbound tourism lately. This has been at the rate of more than seven percent in the first quarter of this year. The country plans to showcase its rich culture and heritage to the world. One such initiative is in the restoration of Old Havana. A lot of tensions also exists due to the infrastructure loss that happened post Hurricane Irma in 2017. Yet, a number of high- end properties survive. To cater to the richer clientele, golf courses are also being developed. As of now, the majority of tourists are from Canada, followed by the EU region. Inbound numbers form the USA have declined again, while regional tensions such as that in Venezuela haven’t helped the matters either. Canada is also the port of entry for Chinese travelers, as flights to Cuba are routed from there.

Source:https://www.tourism-review.com/heritage-tourism-growing-in-importance-in-cuba-news11046

Uploaded Date:03 July 2019