
Full Chapter on Global Asset Management ![]()
AS WE ENTER THE 21ST CENTURY, a new world order is creating an increasingly interdependent global economic system as a result of declining trade and investment barriers, advances in transportation, telecommunication and a globally dispersed and integrated production and marketing supply chain for goods and services. All of these changes will have a significant impact on the travel, tourism and hospitality industry.
According to the World Travel and Tourism Council (WTTC) 2006 report, the global demand for Travel and trillion by 2016. The globalization of major operators and investment funds is the natural step in this evolution and asset managers have to embrace the new challenges. While operational savoir faire, financial expertise and valuation knowledge remain the necessary skills for asset managers, the challenges and opportunities of globalization must be comprehended in order to manage current international real estate portfolios.