Impact of Inflation on Hays Travels: Strategies to Control Inflation

Foundation
year research
project

Table of Content.
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Provide an overview of the company and their product/service..................................................1
Identify the period and causes of inflation that the company experienced in the past................1
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Tourism is related to guiding of tourists and travellers across different parts of he country
or a city to where a traveller or tourist is intended to visit or explore. Tourism services includes
hotel and restaurants products and services, guiding of tourists etc. Inflation is an economic term
that is used for the rise in prices of goods and services that a customer needs to pay to the seller
in order to acquire that product or to enjoy respective service (Rubio, 2019). For better
understanding of this report, a firm Hays travels is taken under consideration which is a travel
agent chain based in UK headquarter in Sunderland, England. This report will be a brief
discussion that will be made on respective company, causes of inflation in the company along
with the theories and models to decrease negative impact of inflation and to increase its positive
impact.
MAIN BODY
Provide an overview of the company and their product/service.
Hays travels in a independent travel agent chain in UK with its headquarters in
Sunderland in England which has the largest number of travels agent stores in united kingdom. It
was founded by John Hays in 1980 and started its journey b y opening a small shop behind a
clothing store that was owned by John Hays's mother in Seaham, Durham. The firm is operating
from more than 40 years and has approximately 450 branches across the world and was
recognised as largest independent travel agent chain with more than 3500 employees working
across the globe. Hays travels was listed among top hundred employment provider in United
Kingdom after the hiring of 1500 employees after they purchased Thomas Cook Group with
2330 employees working in the organisation. Hays travels shown the total annual revenue of
more than 1 billion euros and its turnover increased by 42 million euros in 2017.
Identify the period and causes of inflation that the company experienced in the past.
Inflation is a term that is concerned with the the rise in the prices of the goods and
services that are being produced in an economy (Coibion and et. al.,2020). It considers the
general rise in the prices of goods and services that are produced in an economy which the
ultimate consumer needs to pay in order to consume the respective product. It also includes the
rate at which the prices rise in the economy.
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