Report on the Economic Contribution of the Hospitality Industry

This report examines the economic impact of the hospitality industry across local, national, and international scales. It highlights the industry's contributions to London's GDP, the UK's national income, and global economic growth. The report details financial figures, such as the billions of pounds contributed to the UK economy and the trillions of dollars generated worldwide, along with employment statistics. It emphasizes the hospitality sector's role in job creation and economic development. The report provides a comprehensive analysis of the industry's significance and its influence on various economies.

Contribution of Hospitality Industry in Local, National and International
EconomyHospitality industry is one of the major part of such
businesses, which are contributing higher amount for the
development of economies whether it is local, national or
international. Its contribution in all of them is as follows:
Local economy
National economy
International economy
Local economy:
There are various organisations, which are executing businesses in
hospitality sector in London. One of them is The Royal National Hotel,
which is established in London. This sector has resulted in
enhancement of job opportunities, increased GDP and national income
due to higher profitability. In the GDP of London, this industry has
contributed around 41 billion pounds.
National economy:
Turnover of hospitality industry at national level is very high and it has
been reached up to 98 billion pounds in year 2017 from 92 billion
pounds, which is for year 2016. At the end of 2018, the contribution
was more than 100 billion pounds. It has been estimated that it
accounts for 17% of employment growth of United Kingdom.
International economy
Hospitality industry also contributes in world economy. It has
contributed around 8.3 trillion dollars in the world economy and
generated around 313 million job opportunities in the world. All these
developments are related to year 2017.