Inflation and its Impact on Hays Plc in the Tourism Industry

MGBBT0FYP POSTER
INTRODUCTION
 Inflation is the rate of increase in price over the given period. It is the
prevailing circumstances where country face issues of low demand
and higher price in their products and services.
 It impacts all the business and its affects the business performance and
its profitability. In the case of Hays Plc has taken as consideration and
it is operated in the tourism industry and it went through from this
stage.
 This also discuss the causes and period of inflations has company
faced in the past.
REFERENCES
Afanasiev, O.E., 2022. Tourism Through Troubled Times.
George, R., 2021. Tourism and Hospitality Products,
Branding, and Pricing. In Marketing Tourism and
Hospitality (pp. 249-283). Palgrave Macmillan, Cham.
Hayat, K., 2022. The transformative role of social media in
the business-to-business tourism distribution channel.
In Handbook on Tourism and Social Media. Edward
Elgar Publishing.
Theories and models
Contraction policy: it is the monetary policy that has been used by
business to remove the negative impact of inflation on business. The
contraction monetary policy, it consists the different packages which
helps in attract more customer.
Long term inflation expectations: The most effective model is long
term inflation expectations. This model is believing that if inflation is
take place than it may be taken for last longer and it is not good for
business health and its reputations. So business that policy which helps
company to combat with the such nation for long term period (Lin,
2020). This mod helps business to expand their global operating
business as well as they also bale to expand their branches of company
and make it more affluent in nature.
Overview of the organization and their product and services
Hay plc is the independent travel agent in tourism industry and it
located in England, United Kingdom. According to the research in
statistics data, Hay Plc have the largest retail travel shop in United
Kingdom. Company also use the other tour operator such as TUI
and Jet2 to offer package holidays to their customers and provide
them better quality services. Company start their small retail store
behind his mother clothing store at first time. After that company
increase their turnover and also increase the job satisfaction level
of their employees so, it makes profitability for business. It large
group headquarter in United Kingdom. Company provide travel
arrangements. Hays travel Ltd.
Period and causes of inflation the entity has faced in the past
Pandemic impact: it had significantly negative impact on
business in 2021 because company was invested in undisputed
the global leader in the specialist recruitments. It characterizes
the Hays response to the challenges and emerging opportunities
for business. Remote working during pandemic to highly
dislocated market.
Poor monetary policy of government: it was reason that create
the reason of inflation. Due to the unappropriated development
of the monetary policy by United Kingdom government.
According to the research.
CONCLUSION
As the conclusion, this poster discussed the causes and period of inflation of Hays
plc in some past years such as 2020-2021. This explained the inflation rate of
company which faced by business and some negative impact such as lack of
innovation, feedback of customer and poor development strategy, etc. there some
models and theories helps business to deal with business in effective and efficient
ways and improve the performance of business in order to achieve success.