How Inflation Affects Tourism Industry of UK: A Study on Globus Travel Organization

Research Project
(To determine how inflation affects tourism industry of
UK along with appropriate solutions to minimize
negative impacts of inflation)

Table of Contents
INTRODUCTION.......................................................................................................................................3
Research Aim:.........................................................................................................................................3
Research Objectives................................................................................................................................3
Research Questions.................................................................................................................................3
Literature Review........................................................................................................................................4
Concept of inflation in reference of tourism industry..............................................................................4
Negative as well as positive impacts of inflation on functions of Globus travel organization.................4
Solutions in order to minimize negative impacts of inflation on Globus travel organization...................5
Research Methodology................................................................................................................................5
Conclusion...................................................................................................................................................6
References...................................................................................................................................................7

INTRODUCTION
Inflation is all about increase in the rate of products and service which makes it complex
for the buyers to purchase the goods. Due to inflation purchasing power of the customers reduce
down and they cannot purchase huge amount of products from available funds to them. In other
words, inflations put an adverse impact in purchasing capacity of customers. Hence, they will be
able to buy fewer items within available amount of funds. This increases cost of each and every
item and eventually minimizes the growth of economy. Further, this also put a direct impact on
the lifestyle of individuals hence, it becomes complex for the people to fulfill their expenses
(Lee, Chen and Peng, 2021). In context of tourism industry, high rate of inflation increased the
ticket price, rate of hotel rooms and other services so it becomes expensive for customers. The
present study is based on Globus travel organization which offers tour packages to the most
fascinating places across the world with curiosity and more. The main aim of the respective
organization is to offer the best possible experiences to the visitors. The report will cover
negative and positive impacts of inflation on the operations and functions of the respective
entity.
Research Aim:
“To determine how inflation affects tourism industry of UK along with appropriate solutions to
minimize negative impacts of inflation”. A study on Globus travel organization.
Research Objectives
 To understand the concept of inflation in reference of tourism industry.
 To analyze negative as well as positive impacts of inflation on functions of Globus travel
organization.
 To develop suitable solutions in order to minimize negative impacts of inflation on
Globus travel organization.
Research Questions
 What is the concept of inflation in reference of tourism industry?