The Global Expansion Strategy of Australian Hotel Chain Essay

The Global Expansion Strategy of Australian Hotel Chain - Essay Example The rapid developments and technological advancements in the last 3 decades have resulted in globalisation, universalisation and internationalisation of this world. Indeed, the advent of the internet, infrastructural development and transportation have contributed significantly in dissemination of information, open communication and socialization worldwide. Nevertheless, the reduction of trade barriers and constrictions (such as quotas, tariffs, custom duties etc.) have not only resulted in growth of international trade but also raised the standard of living across the globe. The free trade agreements (NAFTA, SAFTA), eradication of quota system (WTO and GATT) and minimisation of duties are some of the major steps that provided new investment and business opportunities to enterprises. For instance, the ease of communication and construction of secure and reliable transportation networks provide firms an opportunity to expand in global markets and enhance their business volume and mone tary profits. It should be highlighted that Australia is considered as a developed nation, with individualistic culture and values, among international community because of its phenomenal economic growth in last few decades. It’s highly developed secondary (industrial and manufacturing) and tertiary (services) sectors have contributed in nation’s economic prosperity and well – being. Nevertheless, the Per Capita Income in Australia is between the range $38,000 – 39000, which shows that Australia is among the rich nations worldwide.