Swot analysis for travel agency in Malaysia is an essay that tries to examine the strengths, weaknesses, opportunities, and threats that can help create a successful strategy for the future of a travel agency in Malaysia. A swot analysis gives the travel agency a= competitive advantage over all other travel agencies because of its ability to help develop goals for the travel practice.
A lot of professional writers have come up with various essays that highlight the key aspects of what makes a swot analysis successful in any travel agency. Below, we are going to look at the definition of swot analysis and the way they all relate to each other for the growth of the company.
What is Swot Analysis in a Travel Agency?
When writing an essay on swot analysis for travel agency in Malaysia, we must first define what a swot analysis is. Swot analysis is a common method of identifying and analyzing internal and external factors of a travel agency.
It gives a clear picture of the strengths and weaknesses of a travel agency to give it a competitive edge against any other competitor.
SWOT stands for strength, weaknesses, opportunity, and threat assessment. Below are the various definitions of what SWOT stands for and how they all relate to each other.
The strengths of a travel business are the aspects that give it a market advantage in the travel industry. Strengths give the company important goals for coming up with a good marketing plan to ensure success in the tourism sector. The strengths only affect the internal factors of the company, but not external factors.
When coming up with a list of strengths for your travel company, begin with your unique selling point as a marketing strategy. Try to answer the question of what clients will gain from your travel agency compared to any other competitive travel agency.
Aspects like the personality of your travel agents, your unique qualities, and your special niche in the market could be good points to promote your agency.
Examples of Strengths in a Travel Agency in Malaysia
The Malaysian government has been the greatest strength of the country’s tourism success. This government considers the tourism and the manufacturing industries to be the greatest contributors to the overall economy of the country.
Therefore, the government tries to help the tourism agencies to succeed by offering some international events in their natural environment, like water sports and adventurous activities. It has also helped tourists fly to destinations with a low-cost carrier like Malaysia Airlines. Because of the many tourists coming from other countries, introducing Air Asia by this government has helped air travel for most tourists to be easy.
Another strength that the Malaysian government has provided for the travel agencies is the introduction of reservation websites to promote the hospitality industry. International tourists get services from these websites when they want to book a hotel to get the most out of Malaysia. When such services are offered, more visitors visit the country from all over the world.
Coming up with a detailed analysis of the weaknesses of the travel business is important to get a full perspective of how the business is performing. The company gained critics can assist with this since they are in a better position, to be honest about the true performance of the travel agency.
Every big company has its fair share of weaknesses. If your business is small, it will be difficult to undertake enormous projects because they lack the capacity to handle the large volume of work. If your company is too big, it can slow down decision-making and thus make fulfilling orders drag along.
Poor location, the average salary, and having few employees can also be considered weaknesses in companies that are looking for growth in the tourism industry. In the swot analysis of a business, weaknesses are internal issues that the agency should deal with directly.
Examples of Weaknesses Travel Agencies Face in Malaysia:
In Malaysia, the price of tour operators, travel agents, and the hotel industry can sometimes be high. This is especially true when there is a high demand for services because of the increase in tourist arrivals.
The price can also be driven up by domestic tourism, which offers the local people of Malaysia opportunities to also enjoy the free resources that the government has provided. An international tourist does not always get the same discounts that local people get, so this makes domestic tourism prosper and be competitive.
Opportunities are the external factors that present the possibility of profits and the company’s overall growth. Agencies that can identify the best possible opportunities for their companies have a greater chance of growth in the tourism industry.
For a company to analyze the opportunities present in the market, it should have a working knowledge of local, regional, and international trends. All these factors have a direct impact on a tourist to visit an agency for tourism.
Examples of Opportunities in Travel Agencies in Malaysia:
Malaysia is one of the best destinations for tourism because of the advancement in technology and the internet. The current situation in the IT department in Malaysia has helped resorts to have websites. The hotels use these websites to advertise their services to potential customers.
An example of such a website in Malaysia is Milkadeal.com. It has a large number of users both offering and looking for good and affordable services for customers. Families with a lot of members get friendly offers from these websites because of the availability of information. Resorts in Malaysia have also taken advantage of TV and billboard advertisements to promote their services.
Recognizing possible threats ahead of time can give a travel agency ample time to respond to the worst scenario problem that might occur. Threats are an external factor in the travel business.
They can come in terms of a new business competitor, the country’s economy, and the general community that the agency is in. We can also consider terrorist attacks a great threat since they directly affect the tourism sector in a country.
Examples of Threats Faced by Travel Agencies in Malaysia
Competitive resort agencies in Malaysia are always trying to outdo each other in competing for tourists. The competition in this region is quite high because the government has helped the tourism industry flourish with their natural environment.
Natural disasters can also be a great threat in Malaysia. Travel agencies get low traffic of tourists when disasters like tsunamis and earthquakes occur in resort areas. An example of a tsunami hotspot in Malaysia is Langkawi Island on the west side of the Malaysian main island.
How to Write a Good Swot Analysis for a Travel Agency in the Tourism Industry
An essay on swot analysis for travel agency in Malaysia has to include how to write the analysis. As a business, you should first come up with a list of questions that will guide you to identify and answer each element of the analysis you want to tackle.
It should be a complete and balanced list of the ideas that you want to identify as a company. A good brainstorming session should be enough to come up with the main points that you want to address.
Your SWOT structure can either be done in a list format, a free text or most commonly as a 4-cell table. List the strengths and weaknesses first, then lastly list the opportunities and threats at the end of your analysis.
Limitations Of Swot Analysis as a Planning Tool
As much as swot analysis has an upper side in properly analyzing a business, it can also have some limitations that can affect a business. The major limitation of a swot analysis is that someone cannot use alone it to determine the profitability of a business.
Another planning tool should be used to go deeper into analyzing the differences in the weight of categories listed in the swot analysis report.
Final Thoughts on Swot Analysis For an International Tourist
Swot analysis for travel agency in Malaysia has been proved to be very vital for the survival of travel businesses in Malaysia. These agencies use the swot analysis to inspect their business on the challenges that arise from the analysis. Examination of the business’s strengths, opportunities, dealing with threats and weaknesses are what will make the travel agency successful.
Malaysia’s tourism industry has been booming for a long time since the involvement of the government in the tourist sector. By introducing air travel and improving natural resources in the country, a good number of tourists are interested in visiting Malaysia.
An international tourist from other countries is given the freedom and opportunity to experience everything that the country offers. The government has made this even easier by updating its IT Technologies to cater to the high demand for services in the world of tourism in Malaysia. Hotels and resorts have also seen a boost in funds, so they can be able to improve their services for the tourism market to thrive.
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