Hospitality Industry: Size, Scope, and Impact on Economy

Individual Report

Table of Contents
INTRODUCTION...........................................................................................................................3
Findings...........................................................................................................................................4
Scale of industry..............................................................................................................................4
Size of industry:...........................................................................................................................4
Value of industry..........................................................................................................................4
Number of people employed........................................................................................................4
Scope and diversity of industry.......................................................................................................5
Different sectors of industry........................................................................................................5
Range of products they provide...................................................................................................6
Industry structure.........................................................................................................................6
Positive and negative impact of chosen industry.............................................................................7
Recommendations............................................................................................................................7
CONCLUSION................................................................................................................................9
REFERNCES.................................................................................................................................10

INTRODUCTION
Background of study
In the current world, visitor economy is considered as crucial part of overall economy of
a country as it gives significant contribution in enhancing GDP and growth rate of a nation. In
visitor economy, there should be higher quality of experiences need to provide to visitors in
order to convert them in frequent tourist (Dube, Nhamo and Chikodzi, 2020). Visitor economy
includes tourism, travel and a wide range of products and services to both staying as well non-
staying guest. In addition, it also comprises business events, hotels, restaurants and other services
which are meant to provide better experiences to individuals. The report includes size, scope of
respective industry along with the positive as well as negative aspects of industry.
Background of industry
In the current report, hospitality industry is taken into consideration that significantly
contributes in overall economic growth of a country. It includes different kind of business such
as hotel, restaurants and more. Main aim of hospitality industry is to provide better experience to
customers by meeting with their needs and requirements in an efficient manner. Major services
which fall under hospitality industry are food & beverages, lodging, recreation, travel & tourism.
Hospitality industry is considered as one the major employer in UK as it gives significant
contribution in generating new employment opportunities. It is stated that hospitality sector
contributed generated £ 72 billion in overall economy of country. So, hospitality industry of UK
is growing rapidly that is helpful in generating growth opportunities for betterment of country.
Aim: “To acknowledge the detailed concept of hospitality industry in terms of size, scope,
different sector and positive as well as negative impacts of industry over economy”.
Objectives:
 To identify size of hospitality industry along with its value and contribution in GDP of
country.
 To ascertain different sectors of hospitality industry and range of product & services they
offer to customers.