Introduction to the Experience and Visitor Economy

Introduction to the
Experience and Visitor
Economy

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
a) Scale of the hospitality industry..............................................................................................3
b) Scope and diversity of the hospitality industry.......................................................................4
c) Analyse the positive and the negative impact on the hospitality industry.............................6
CONCLUSION ...............................................................................................................................7
RECOMMENDATION...................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Hotel is an establishment that provide the accommodation, meals and other services for
the traveller and the tourist and hospitality industry is highest growing industry in the market and
they are contributing the higher share of profits to the country's GDP. It includes lodging, food
and beverage services, event planing, theme park and transportations. The main concern of the
hospitality industry is to offer the quality service to the guest by hiring the excellent staff so that
they can ensure the better services to their guest. This report will cover the scale, scope and size
of the industry. Moreover, it will analyse the value and contribution to the GDP. They also
examine the wide range of industry's products and their different sectors in the economy.
MAIN BODY
a) Scale of the hospitality industry.
It is the fastest growing industry which is keep innovating their products and services and
giving the excellent experience to their guest. Satisfaction of the guest is the main consideration
of the hotel in order to retain their potential customers to their brand(Ocejo, 2017). Hospitality
sector includes the restaurant, hotel etc. other services as the direct operations and the facility
maintenance. In 2021, the user penetration is 2.3% and the amount is expected to US$ 164.38 by
2025. As per the British Beer and Pub Association, there are 8.5 billion pints of beer which is
sod and they have paid the tax of £7bn. The tourism industry in the UK is the 8th largest industry
as there are 207000 eating outlets in England.
Value of the hospitality industry
When the firm is generating the higher level of revenue and contributing the highest share
of profits in the economy they are contributing the higher share of profits in the UK's economy
(Moscardo, 2017). The hotel industry has generated the higher revenue amounted US$15,076m
in 2021 as the industry has grown up to 34.4% in 2021. It is the industry which is contributing in
enhancing the living standard in the society.
Number of employees working in the hospitality industry
There are large number of employees who are using their skills and knowledge in order
to perform the various function of the management in order to get effectiveness in the
business(Pearce and Zare, 2017). As per the report, there are approx 16.78 million people who
are working and earning the healty lives.