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ESSEC Business School

MBA in Hospitality ManagementHospitality is a fast growing service industry, which includes lodging, restaurants, events, theme parks, transport, cruises, and tourism. The industry is the world's second largest, ranking only behind the international oil industry in terms of annual turnover.

According to the World Travel and Tourism Council, Travel & Tourism accounted for 9% of the world's GDP at $6 trillion. Future prospects are also good, with the industry expected to grow at 4% annually to touch $10 trillion in the next 10 years. The sector is also the world's largest employer, with 255 million people. In 2011 alone, 1.2 million new jobs were generated. After 20 years, or by 2022, the sector is expected to employ 10% of the global workforce, with 328 million jobs.

The attractiveness of this sector can be judged on the fact that $743 billion was invested in Travel & Tourism in 2011, a figure that is expected to go up to 1.3 trillion by 2022. Of the revenues generated in 2011, 76% is for leisure purposes, while 24% came about due to business related reasons. Also, 70.5% of the spending came from domestic sources, while international travelers contributed to 29.5% of the spend. With regard to the hotel industry,...

MBA in Luxury ManagmentContrary to popular belief, the luxury sector does not perform badly when the economy is on a downturn. It is recession-proof, and actually does better. Sales CAGR for the 2007-11 period for Hermes has been at 15%, Gruppo Prada at 16% and LMVH at 9%. In fact, the last 3 years have seen immense growth, with the same companies recording CAGR of 22%, 27% and 18% respectively. In 2012 alone, the worldwide luxury market is estimated to have grown at 10%, with revenues reaching $275 billion. It is the third consecutive year that the Luxury sector saw a double-digit growth. 

The growth has been driven by China dominated Asia-Pacific region, with 2012 growth rates at 18%. The Americas region is also a key driver, with growth estimated at 13%. Europe, reeling under a recession has grown slower than last year, but is still expected to have increased its luxury market by 5% in 2012. China is the key to the Global Luxury market. Not only do the Chinese buy a plethora of luxury goods at home, they spend a substantial amount on luxury goods as tourists...

Categories : ESSEC Business School

Essec Global MBA is a 12-Month Full time MBA with September Intake in Paris and Singapore. The program focuses on developing critical thinking and creative problem solving skills.

The core courses include Accounting for Decision Making, Business, Sustainability & Society, Finance, Global Strategy Law and Business, Leadership & Organizational Behavior, Managerial Economics, Managing IT in a Networked World, Marketing Management, Statistical Analysis for Management, Strategic Management, Technology & Operations Management and Writing a Business Plan

As part of developing critical thinking, Essec has introduced a course - Critical Analytical Thinking, which runs through Term 1 and Term 2. Creative problem solving is another aspect that Essec MBA students develop during the course. Creativity and Decision Making under uncertain environment are two courses that build the foundation for
Creative problem solving . Effective Communication skill is essential for overall personality development. Essec MBA has an interesting course -...