Strategy Formulation of Tourism Businesses in the Era of Industrial Revolution 4.0

Abstract

Tourism 4.0 currently a tourism development trend in some countries in the world. 4.0 is intended for millennial tourists with multiple growth targets. The digital era has caused many changes in social societies in various important sectors of the world. One of them has an impact on the tourism sector with the digital transformation being the cause of tourism 4.0. This study aims to determine the right tourism business strategy to increase the number of foreign tourists visiting Badung regency during the industrial revolution 4.0. This study will use a qualitative approach with descriptive analysis methods and data collection techniques with interview techniques which are then analyzed using SWOT analysis, internal and external weighting then determine TOWS Matrix and IE Matrix. The results showed that tourism in Badung Regency was in quadrant I of the TOWS matrix and quadrant V in the IE matrix. The right strategy is market penetration and product development. The Badung Regency Government must further optimize the use of technology in the 4.0 industrial revolution era for promotional activities such as the use of social media, online advertising, websites, and car applications, improve digital branding and work together with influencers.