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Franchising and Licensing Assignment (Doc)

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Added on  2021-02-20

Franchising and Licensing Assignment (Doc)

   Added on 2021-02-20

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Along with this franchising and licensing both acts as a strongest element that araise Nation overall development, by generating taxes and revenue with huge ratethat provide strong boost to country economy in a stipulated manner. Thus it can besaid that, increase in the growth perspectives of a country hospitality sector leadnation towards remarkable boost in their economy along with contributing theirwell significant contribution in national, local and international economies. Contribution of hospitality industry to local, national andinternational economies:With significant increase in the number of traveller’s hospitality sector emergedas a one of the leading and fastest growing sector in the world. With fastestrevenue generation this industry effectively aids national, local and internationaleconomy in a developing way. Tourism sector with its large profitability leadtowards increasing country economy and increase in its overall amount of GDP. Hospitality industries in UK by offering these services in an extensive wayincrease country Employment generation rate by giving overall number of 2.5million job opportunities to people as per the data of 2017. Along with this 1.2million of business setups has been provided by hospitalities industries in UKwhich lead country towards increase in overall rate of per capita income. 19billion Euros revenues have been generated with the contribution of hospitalityindustry that effectively increase UK brand image in international marketseconomy sector.By becoming one of the most rapidly evolving sectors around the worldhospitality sector significantly contribute in Employment generation rate of UKthat lead towards rise in per capita income of nation. This lead towards increasingliving standard of individuals as hospitality sector facilities also increasestravelling, sightseeing, shopping etc overall rate.In addition, with this in context of international tourism this sector contributeseffectively in the economy of United Kingdom as due to the services of hospitalityIndustries travelling by Airways also increase with the fast phase, as tourist comefrom different geographical locations around the world. Along with this it alsoincreases shopping experience rate that effectively contributes into overalldevelopment of UK economyCONTEMPORARY HOSPITALITY INDUSTRY
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