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International economy in United Kingdom

   

Added on  2021-02-20

1 Pages708 Words47 Views
International economy- There are many organisations which are offering itsbusiness in various parts of the world. The travellers and visitors of UK hasdirectly resulted in 10 percent growth at the national and international level. This isalso lead to increase in employment opportunities and living standard ofindividuals. This industry has also led positive impact at the international level.National level- Hospitality industry is the third largest growing industry atthe national level. This industry is able to provide various kinds of employmentopportunities to the individuals of UK. As per the report approximately 3 millionjob opportunities are offered by the hospitality industry of UK. Due to thiseconomy of UK is growing at the rapid stage. With the increase in growth and demand of hospitality industry many food chaincompanies’ such as Mc Donald's, Pizza Hut, etc. are continuously focusing onestablishing their outlets by using licensing and franchising facility. These fast foodchain organisations has also increased the chances of employment in various partsof UK (Issa, Chang and Issa, 2010). P3 The contribution of hospitality industry to local, national andinternational economies◦The major aim of every organisation in hospitalityindustry is to increase its market share and to attract moreand more customer's. Changes in the working structure ofhotel are made according to the current situation anddemand of potential customer's. The growth and productivityof hospitality industry directly impacts the local,international and regional economy. Its major positive andnegative impact are mentioned below- ◦Local economy- If the need and demand of customersare satisfied than local economy will have a direct andpositive impact. The hospitality industry of UK aims atencouraging and convincing the customers to spend more, sothat their overall experience its increased. The impact of thistype of industry is very much high and positive on localeconomy (Henrichs and et. al., 2010).◦◦Contemporary Hospitality Industry ◦

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