Impact of Inflation on Hays Travel in UK Tourism Industry

Foundation year
research project

Table of Contents
Introduction.................................................................................................................................................3
Background of the topic..........................................................................................................................3
Research Aim:.........................................................................................................................................3
Research Objectives:...............................................................................................................................3
Research Questions:................................................................................................................................3
Literature Review........................................................................................................................................4
Concept of inflation in context of tourism industry.................................................................................4
Impact of inflation on Hays Travel in terms of positive and negative manner.........................................4
Solutions in order to deal with adverse impacts caused by inflation in regard of Hays Travel
Organization............................................................................................................................................5
Research methodology................................................................................................................................5
Conclusion...................................................................................................................................................6
References...................................................................................................................................................7

Introduction
Background of the topic
Inflation is all about increase in the price of products which further might affect the
overall purchasing capacity of potential customers in significant manner. It basically demonstrate
the rate by which buying power of customers drop down due to increase in the price of particular
products during a particular period of time. In other words, inflation can affect the growth and
progress of an organization in both positive and negative manner as well. During high inflation,
the buying capacity of individuals get minimized as they are not able to buy necessary products.
Further, it also affects the overall growth and enlargement of economy profoundly. Moreover,
industries and companies are also likely to get affected with the constant increasing rate of
inflation (Akbulaev and Aliyev, 2020). The present report is based on Hays Travel which is a
well-known tourism planner company based on UK. Here, they offer tour facilities to people for
different locations like Turkey, Portugal, Greece, USA and so on. The present project report aims
to examine impact of inflation on tourism industry and preparing suitable strategies to develop
suitable solutions to get rid of adverse impact caused by inflation.
Research Aim:
“To evaluate how inflation is affecting tourism industry of UK and develop suitable solutions to
deal with such adverse impacts”. A study on Hays Travel Organization.
Research Objectives:
 To understand the concept of inflation in context of tourism industry.
 To evaluate impact of inflation on Hays Travel in terms of positive and negative manner.
 To formulate appropriate solutions in order to deal with adverse impacts caused by
inflation in regard of Hays Hotel.
Research Questions:
 What is the concept of inflation in context of tourism industry?
 What is the impact of inflation on Hays Travel in terms of positive and negative manner?
 What are the appropriate solutions in order to deal with adverse impacts caused by
inflation in regard of Hays Hotel?