A SWOT is an acronym for a business analysis used to assess strengths and weaknesses of a business, as well as the opportunities and threats in the marketplace. A SWOT analysis of tourism can be used by a large organisation to assess its tourism related businesses.
The strengths of a business are its beneficial features. The strengths of a tourism business could be things such as an international network of affiliates or a recognised brand in the industry.
A business's weaknesses are its negative features. For a tourism business this might include limited international experience or the lack of a competitive marketing campaign.
Opportunities are any external situations that can be leveraged to the advantage of a business. For a tourism business, an opportunity might be offering vacations to a newly opened up area or targeting a new market segment such as retired baby boomers.
Threats are external possibilities that threaten a business. In tourism a recession could be a major threat to a business.
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