Modern trends in the international markets for goods, services, labor, capital, and technology allow each competitive enterprise to find its place in the global economic process. However, it requires particular practices and conditions for meeting the political, economic, and cultural expectations of global business. One of the main principles is the understanding and implementation of the course of global corporate management followed by leading international corporations.
Sun City has prominent prospects within the current global trend of active tourism and water sports. The economic side of the case is particularly attractive in terms of profit due to the growing popularity of the entertainment industry. For many countries, including the US, this is one of the largest sources of income and investment (Wilson et al., 2021). Surfing gains significant popularity in the market: Amid the COVID-19 crisis, the global market was evaluated at $2.7 Billion in 2020 and has the potential to reach $3.1 Billion by 2026 (Surfing. Global Market Trajectory, n.d.). Such a profit has the risk of attracting a large number of competitors. Sun City’s management must become better customer-focused to prevail in the face of increasing competition.
From a cultural point of view, this is also an exceptionally profitable investment. This area of outdoor activities continues to gain popularity and promote the worldwide idea of an unassailable eco-friendly vacation (Wilson et al, 2021). The International Surfing Association argues around 35 million people surf worldwide for leisure and sports purposes (Surfing. Global Market Trajectory, n.d.). Tourists at popular surf spots may create disruptive mass tourism, and the global market urgently demands new destinations and sustainable technology. It also gives proper impetus to technical progress, the development of more advanced equipment, and profitable cooperation with existing global brands. The top 7 Surfing Brands Worldwide include Quiksilver, FCS FINS, Rip Curl, Billabong, Hurley, O’Neill, and Volcom (Surfing. Global Market Trajectory, n.d.). Collaboration with these brands and careful attention to global environmental trends can bring Sun City credit and public favor.
The political side remains unequivocal, as the States is still a priority for the vast majority of local and foreign tourists and investors due to its stable global position (Wilson et al., 2021). A severe setback is the coronavirus pandemic, which continues to put the entertainment sector at significant risk. Any actions in this direction must comply with the general situation in the world, and global security protocols, and focus on the maximum safety of people over profit.
References
Surfing. Global Market Trajectory & Analytics. (n.d.). StrategyR. Web.
Wilson, B., Paulo R., Barrios, A., & Popp, B. (2021). Extending the notion of customer value to surfing camps. Heliyon, 7(8).