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The Herman Trend Alert
December 2, 2015 Labor Shortages in Travel Except from areas affected by economic downturns or terrorism, we hear that labor shortages in travel and hospitality are creating challenges for employers and and driving up salaries.
Travel salaries are up in the UK
China's booming hospitality industry
Australia's hotel industry has serious competition Their National Resources Sector Employment Taskforce recently highlighted the need to secure more than 70,000 additional skilled workers for major resources projects over the next five years. One study found that 50 percent of tourism and hospitality employers "identified competition for labor with other sectors as the third most important factor" to have an impact on employee retention.
The United States is having problems, too! We see a rosy future for the hospitality industry---if it can find or grow the people it needs to serve its guests. Expect more institutes and academies like IHG and Holland America, the cruise line, which for years has had two locations in Southeast Asia to train their staff. "Growing your own" has long been one of the best ways to respond to labor shortages like the one China is facing. IHG's response will be copied in other industries. For most hoteliers, finding and keeping good, qualified, experienced people will be the most challenging situations they will face in the near-term future. * Stay tuned for a report about Panama, the booming vacation spot, destined to be the new "in" place to visit.
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