Benefits of globalization for the economies and businesses: the case of the top four Balearic hotel chains

Abstract

[eng] Globalization has allowed for magnificent growth rates of those countries that have opened their markets to the world, of particular interest has been the case of Asia. These growth has been accompanied by a notable reduction in poverty of those countries and in a diminishment of inequality between the north and the south. This is what has been defendant by many economists and at the same time rejected by NGOs and other institutions. Furthermore, taking aside the economic landscape, what does globalization mean for companies? Can they sustract gains, add value and retain competitive advantage by operating in several markets at the time? Have the cases of the four largest Balearic hotel chains ratified this and what strategies have they used to succeed in overseas markets? This work will review the literature on the economic side of globalization to provide a complete treatment of the subject and for the business landscape, the theoretic framework of the author Pankaj Ghemawat will be used.