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Contemporary Hospitality In McDonald and Pizza Hut

   

Added on  2021-02-20

1 Pages1260 Words15 Views
INTRODUCTIONContemporary Hospitality IndustryInternational: This industry is very much flexible in natureas it enable several companies to trade in this from differentparts of the world which give a route to enhance globaldiversity as well as explore life standard of community orsocieties. Moreover, it invite large number of visitors whichgenerate 10 percent development over national andinternational level. Furthermore, it generate positive impactover economy as it provide job opportunity to UKpopulation that enlarge their life standard as huge growth innation GDP ratio (ECONOMIC CONTRIBUTION OF THEUK HOSPITALITY INDUSTRY, 2018).However, there is a high level of demand and growth inhospitality industry which encourage wide range of foodchain companies like McDonald, Pizza Hut etc. to invest inthis which lead them to expand their business operation.Moreover, the growth rate of this sector pushes companiesto focus over licensing and franchising for introducing theiroutlets in various geographical regions as well as it helpsthem to generate enormous employment opportunitieswhich reflect in an enhancement of country's GrossDomestic product rate. Moreover, in this industry customers demand or trendchanges according to market situation which influencedirectly over Hilton Hotel decision making process aswell as impact to local, international and nationaleconomy.Some of the effort of hospitality business to various levelof economies are as follows:Local: It is regarded as one of the focal point forUK economic growth as it offer enormous employmentopportunities which enable each individuals to improvetheir life standard and it directly reflects over theenlargement of GDP rate. Along with this, UK hospitalitysector encourage or convenience large group ofpopulation to spend more that allows them to gaincompetitive advantage among marketplace and thus it hasbeen proven that there is high degree of impact of thisindustry over local economy in terms of increasingproductivity and profitability.National: This industry contains huge range ofpotentiality to become the driving force of economy as ithas a reciprocal relationship with other sectors liketransportation, entertainment, aviation etc. which leadthem to explore their development capability in creativestyle. Apart from this, it plays a key role in fighting withyouth unemployment and provide enough platform so thatthey enhance their lifestyle and can provide their valuableeffort towards in enhancement of country or nation in animpressive manner. From the recent report of UK, it hasbeen drawn out that hospitality industry support 3 millionjobs to public which directly benefit to UK economy in aproductive way (Janta and et. al., 2011). The hospitality industry has grown multiple folds in thelast few decades and its primal objective is to satisfycustomer need and demand in order to attain high levelof productivity and profitability. Along with with, itplays a major contribution to the growth of country'seconomy as it provide the enormous opportunity foremployment of differing personalities, backgrounds andskills through a wide diversity of type of outlets servingfood and beverages.P3 Contribution of hospitality industry to local,national and international economies The growth of this sector and its endeavour toGDP will continue to be substantially higher than othersectors of economy. Along with this, it's main centringpoint is to identify the demand or requirements ofcustomer and based on that they implement correctivecourse of action in order to acquire higher level ofgrowth and development (Issa, Chang and Issa, 2010).

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