Impacts of Inflation on Tourism Industry: Solutions for Hays Travel

Assessment
(“What are the typical impacts that
inflation can have on the tourism
industry and what solutions, to ease the
negative impacts, can be
implemented?”)

Table of content
INTRODUCTION.........................................................................................................................3
Background information of topic.............................................................................................................3
Research Aim..........................................................................................................................................3
Research objectives.................................................................................................................................3
Research Questions.................................................................................................................................3
Research Rationale..................................................................................................................................3
LITERATURE REVIEW.............................................................................................................5
The basic concept of inflation in context of tourism industry..................................................................5
The positive and negative impact of inflation can have on the Hays Travel............................................6
The effective solutions that can be ease for Hays Hotel to reduce negative impact of inflation..............7
RESEARCH METHODOLOGY.................................................................................................8
CONCLUSION..............................................................................................................................9
REFERENCES............................................................................................................................10

INTRODUCTION
Background information of topic
Inflation is defined as an increase in the prices that can be translated as the reduction of
purchasing power over time. It can be considered as the rate at which purchasing power drops
can be showed in the average price increase of a basket of chosen goods and service over some
period of time (Van, 2019). Inflation affects the economy in both adverse and significant
manner. High inflation rate in the country is harmful for its economy. On the other hand small
amount inflation can help in deriving economic growth. It also affects the many industries and
businesses too. Thus, the current research has been conduct to examine its negative and positive
impacts on the tourism impact along with the solutions to reducing its negative impact.
Research Aim
To examine the impacts that inflation can have on the UK tourism industry along with the
solution for reducing its negative impact. “A study on Hays Travel”
Research objectives
 To understand the basic concept of inflation in context of tourism industry.
 To examine the positive and negative impact of inflation can have on the Hays Travel.
 To analyse the effective solutions that can be ease for Hays Hotel to reduce negative
impact of inflation.
Research Questions
 What is the basic concept of inflation in context of tourism industry?
 What is the positive and negative impact of inflation can have on the Hays Travel?
 What are the effective solutions that can be ease for Hays Hotel to reduce negative
impact of inflation?
Research Rationale
The reason behind for the selection of research topic is to find out the negative and
positive impact that inflation have on the country. Due to high inflation rate on the economy the
purchasing power of the consumer is reduced and it directly affects the sales of the company

(Lin, 2021). It leads reduction in sales as well as total revenue of the business. The current
research collects information that helps company to reduce the negative impact of inflation on
their business.