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Contribution of The Hospitality Industry Local Economy PDF

   

Added on  2021-02-21

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Apart from this, firms within the hospitality industry such as Pizza Hut, Burger king has expanded its business by providing various growth opportunities by providing licensing and franchising agreements through the world. This helps them to capture larger market share and benefits the local, national and international economies. Contribution of The Hospitality IndustryLocal Economy- Hospitality Industry contributes to the localeconomies directly when tourist spend money in hotels andrestaurants and entertainment services. It leads to the building ofinfrastructure such as road and enhancement of transportationfacilities. This ultimately creates job facilities for the larger customerbase. Travel and tourism industry is one of the key drivers of growth among the service sector, this has also increased the employment opportunities within the country thereby reducing poverty and unemployment from the country. Moreover, they are expanding their services at the international. National and regional levels in order to cater the needs of different customers.National Economy- Hospitality industry is goingat a faster rate and creating various jobopportunities for the employees, therebyreducing poverty from the nation and abolishingunemployment. This leads to the enhancementof the national economy, with the growth ofhospitality sector. International Economy- Hospitalityindustry is awide platform of economic development andjob creation throughout the world. This led tothe enhancement of the nation’s economy bythe growing GDP rate. Moreover, it alsoincreased the standard of living of thecustomers. Contemporary Hospitality Industry
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