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Contemporary Hospitality Industry– PDF

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Added on  2021-02-19

Contemporary Hospitality Industry– PDF

   Added on 2021-02-19

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nd Functional unitContemporary Hospitality IndustryInternationalEconomy-Travel and tourism sector is the broad factorwhich involves large number of service in an organisation such astours of different countries. Similarly now a days customers also gobeyond their country with purpose of travelling and to explorebusiness activities. The authority of British hospitality associationstates that they are more than 700 million transaction take place inUK with other countries which signify that hospitality organisationare working as backbone for economic condition of country.Travel and tourism industry is growing with rapid face in anorganisation which states service sectors are generating sufficientrevenues from customers. Some of the major impact on economy ofcountry is mention as follow:Local Economy-Local economy of a particular region will be morebenefited with implementation of hospitality organisation. It is stated bythe government of UK and Europe that if a nation wants to developsthat they need to explore more places that increases number of visitorsthrough which they generate more income from customers. Like Travel-lodge provides employment opportunity to local people by offeringdifferent job roles to them. For the development of local peoplemanagement contribute beyond their limits by paying tax that help toraise the living standards of society.National economy- For an organisation the stability of the economiccondition of the country or nation is the major factor that influence onthe decision making of society. It includes several factors such as policyand law that relates with monetary terms are included under this sector.Fiscal policy, tax collection and GDP etc. are part of national economyof country. In recent years travel lodge and other hotels increases the4.9% rate of GDP in overall UK which determines that production andservice sectors are increasing rapidly which work as positive factor fororganisation.The contribution of the hospitality industry
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