Contemporary Hospitality Industry

Contemporary Hospitality Industry
Contribution of Hospitality in Economy
Hospitality industry is one of the booming sector as
there is a formative increase in the number of travellers
in all over the world.
This lead towards increase in contribution of
international, local and national economies. Hospitality
industry effectively contributes in a nation GDP and
per capita income rate. It has been seen that this
industry contributes up to 2.4 million jobs in the year
2017. Along with this, 170,000 commercial set up has
been offered by hospitality sector in UK.
Local and National Economy
This industry increase revenue generation rate by
contributing 90 billion Euros in overall GDP. Thus,
government is required to provide more advantages to
this sector as it effectively increase UK
developmental growth rate along with country brand
image in all over the world.
International Economy
In addition with this, it has been
evaluated that international tourist base also
lead towards contributing major
contribution in the economy of UK. As
amount spend by them on air, railway and
shopping expenses directly increase
country overall growth rate with rise in
their ratio if foreign currency holdings. In
addition with this franchising and licencing
acts as a strongest element that effectively
increase international image of UK in
international market that lead towards
generating effective outcome.