Introduction to the Experience and Visitor Economy

Introduction to the
Experience and
Visitor Economy

Table of Contents
INTRODUCTION.................................................................................................................................3
FINDINGS............................................................................................................................................3
Scale of the industry..........................................................................................................................3
Scope and diversity of the industry....................................................................................................4
The positive and negative impacts of the industry.............................................................................6
CONCLUSION.....................................................................................................................................7
Recommendations.................................................................................................................................7
REFERENCES......................................................................................................................................9

INTRODUCTION
The experiences of tourists on a travel begin long until the trip and contain many
factors and several specific sources. Many people who add to the standard of their experience
would not consider it to be in the tourism industry and many of the information of tourists is
not available to the general public (Alexander, Alexander and Decker, 2017). The main
objective is the visitor economy which brings business growth significantly wider into
consideration than is historically referred to as 'tourism and experiences.' Moreover, this is a
term used in describing not simply for the tourist industry, but in a very specific broader
context the economic value of tourist development. Hospitality industry is considered in this
report. The project includes scale, scope and diversity of industry as well as positive and
negative impacts of industry.
FINDINGS
Scale of the industry
Size of the industry
The size of the hospitality industry is wider as it has different sectors such as travel
and tourism, accommodation, food and beverages as well as recreation. It is the United
Kingdom fourth largest industry which contributes to the growth of the economy (Alexiou,
2020). However, it is the industry in which provides many services to the people which
includes hotels, resorts, guest house, event business, pubs, bars and many more. For example,
the size varies and based on the scale of the business such as small hotel sector requires
absolutely no money to spend in advanced, complicated technologies and highly costly
income control. Larger hotels of more profits get the income sufficient to finance an in earned
income administrator. Price movements for small hotels have little impact on their rival rates.
The product that is for something other than our tech itself will help smaller hotels. Our staff
aims to provide assistance not only the pricing strategies, but with each part of your sales
management.
Value of the industry (turnover) as well as GDP