BUS 707 Applied Business Research

Added on - 26 Nov 2019

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Tourism industry1Tourism industryNameCourseProfessorSchoolCityDate
Tourism industry2AbstractThe tourism industry is a major key growth sector for the economy of Australia. With the rise ofthe Australian dollar the tourism sector would be greatly affected. In any country the economicsystems as well as the financial have continue to be governed by their currency as well as thetrends which are seen in the rise along with the fall of the currency. This rise in the Australiandollar has led to the growth of the tourism industry. This has led to the cheap local tourism whichhas been exhibited in the country. Some of the international economic researcher as well as thepolitical analysts to predict when the country would become one of the economic power.According to the experts on the analysis they have carried out they believe that Australian dollaris expected to continue on this trend. This will have some implications on the country. Currentlythere has been steer excitement as well as optimism among the locals as the local are expected toenjoy cheaper shopping options and tourism. In this research proposal it intends to highlights theeconomic, social and the business issues in the tourism industry in Australia. The proposal willfocus on the ethical considerations, literature review, the aims and objective of the research aswell as the research design to this research. The design will focus on the methodology forcarrying on this research on the trends and the movement to Australian dollar rise and the impactit has on the tourism industry.
Tourism industry3Research problemIn this research it will find out the repercussion of the climb of the Australian dollars over therecent years. The research will highlight the effect of this increase to the tourism industry inAustralia. Moreover, it will highlight the social and economic repercussion of this climb(Caruana, 2016).Over the recent years the Australian dollar has been in a sharp rise. This dollar is at presenthigher over that of the US dollar. In this research to understand the dynamic of which causes thisrise it is important to understand some aspects such as the economy, business as well as thesocial factors(Cooper, Schindler and Sun, 2006). The rise of this dollar has also caused anexcitement as well as optimism to the local individuals in Australia since they would likely getcheap import and cheaper tourism.The problem which this research intend to answer would be what are on the repercussion of therise of the Australian dollars especially to the tourism industry which is the main focus sector inthe research(Caruana, 2016). To be able to carry an in-depth analysis of this research there arevarious research question and hypothesis as highlighted below.Research questions1.What are the effects of the fluctuations observed in the Australian dollar to the tourismindustry?2.What are the factors which have caused the rise in the Australian dollar?3.What are the social impact of the Australian dollar to the tourism sector?4.What are the economic effect associated to the rise of the Australian dollar on the tourismindustry?
Tourism industry45.What are the impact of the exchange rate on the socioeconomic construct to the tourismindustry?6.What are the business issues in the tourism industry that are associated to the currentstrong Australian dollar?These research questions will discuss on the problem of what this research will seek toanswer and there are also hypothesis that have been drawn from the research as highlightedas follows.Hypothesis1.The repercussion of the climb of the Australian dollars over the recent years to thetourism industry.2.The economic, social and the business issues as well as the trends and movement ofAustralian dollar impacts to the tourism industry.BackgroundThe economic systems as well as the financial of the tourism industry can largely be governed bythe currency as well as the trends which are associated with both the rise and the fall of thecurrency(He, Fayman and Casey, 2014). In any country any changes in the currency leaves aneffect to the economy, social as well as various sector of the countries(Henderson, 2014). Overthe recent years it has been observed that the Australian dollar has risen and it has been higherthan the US dollar(Fedoseeva and Werner, 2016). Based on the experts they have highlightedthat this trend is expected to continue to rise and this will have implication particularly to thetourism sector which bring foreign exchange to the countryGooroochurn and Sugiyarto, 2005).For one to understand on the dynamics that governs the GDP and the social implication of an
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