Impact Of Globalisation On Food And Service Sector

The world is moving away from self-contained national economies toward an independent, integrated global economic system. Globalisation refers to the shift toward a more integrated and interdependent world economy (Dutta, 2012). There are two key facets of globalisation which are the globalisation of markets and the globalisation of production. The globalisation of market means that the expansion and access of businesses to all over the world to reach the needs of the customers internationally. And the globalisation of production means firms source goods and services from locations around the globe to capitalise national differences in the cost and quality of factors of production like land, labour, and capital. In which companies can lower their overall cost structure and improve the quality or functionality of their product offering. The rapid development of international economic integration and globalization has led to significant changes in hospitality industry. Therefore, it is necessary to dwell on different aspects of globalization as the process influencing the current and future developments in hospitality industry. This essay will be critically evaluating how globalisation impacts food and service sector. Followed by discussing the globalisation within the UK, how other global foods adapt the food market and how the service influenced by the globalisation. Globalisation involves the increased integration and interdependence of the global economy. It means thereShow MoreRelatedGlobalization And Its Impact On The Global Economy1107 Words   |  5 PagesGlobalisation has made up enormously over the last half-century after taking place for hundreds of years. Globalisation development of the increasingly interconnected which results massively increased trade and culture exchange. 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