Dear Bhowal Kaushik,
I have a small background in the hospitality industry; however, upon leaving the industry, I remained a keen observer of that industry.
The Role of Education in the Hospitality Industry
I don't know which hotel you are referring to and whether your reference is from India or abroad. Nevertheless, most of the companies having a chain of 5-star hotels employ staff with a degree from the Institute of Hotel Management (IHM). For the benefit of the readers, let me apprise them that students from IHM are considered the cream of the hospitality industry.
Success in Other Industries
Yes, there are successful persons in other industry segments as well. In the IT industry, ordinary BCAs could earn more than B Tech (Computer SC).
Challenges in the Hotel Industry
However, in the hotel industry, the examples of super-successful people you mentioned are few and far between. For every successful person, 99 others languish. At the lower level, it is easier to get a job, but at a higher level, it is very difficult.
Talent Retention in the Hospitality Industry
By the way, if the hospitality industry were so good, why is it not attracting talent, and even if it does attract talent, why is the talent fleeing to other industries? My market observation says that those who are pursuing a Bachelor in Hotel Management (BHM) course are not so keen to work in the hospitality industry. Barely 5-10% wish to continue. Why are students turning themselves away from a lucrative career?
The Importance of Higher Education
The requirement for higher education is not industry-specific. It is required for all industries. Indians' tendency to give short shrift to education casts India in a poor light. Today, we don't have a single car manufacturer that produces a car with aspiration value. We don't have a single IT company that has developed an IT product on its own. We don't have a single company that manufactures a mobile phone or even a TV set. Our tryst with mediocrity is never-ending.
We have a tendency to pooh-pooh higher education, and in the bargain, we end up playing a second fiddle to the industry leaders of the world. Unfortunately, we don't bother to check whether the fiddle is made domestically in the market or imported. Our obsession with earning by playing a fiddle overrides our critical thinking!
Thanks,
Dinesh Divekar