Executive insights on globalization : Implications for hospitality managers in emerging locations

Purpose – To provide an enhanced understanding of the changing business dynamics resulting from globalization, and offer hospitality managers in emerging locations strategies for success. Design/methodology/approach – The research was based on a descriptive survey conducted among 118 senior level travel executives in 35 countries. Based on the concepts furthered by Thomas L. Friedman, executive insights were gathered on the impact of globalization on business, technology, accounting and finance, psyche, and knowledge flows. Findings – Research findings point out to the evolving business dynamics in a globalized environment requiring strategic operational adjustments by hospitality managers, specially those located in emerging locations. Research limitations/implications – Though the research was conducted across several countries, the respondent number does not merit a solid basis for a generalized conclusion. Furthermore, as English was used in the survey questionnaires, respondent misunderstandings may have occurred. Being an exploratory study, a stronger theoretical foundation in future research will provide added benefit to the academic and business communities. Practical implications – The research points out to the need for greater awareness of the impact of globalization among hospitality managers in emerging locations. Furthermore, strategies need to be fine‐tuned in accordance with the evolving nature of globalization. The study identifies salient points that need to be considered. Originality/value – With insights gathered from travel executives from around the world, and about one‐quarter of the respondents being directly engaged in hospitality management, strategic approaches presented are valuable to industry practice.