Government & Economic Policy Influence on Travel & Tourism Sector

This report examines the travel and tourism sector, focusing on the influence of government, government-sponsored bodies, and international agencies, particularly within the context of Thomas Cook. It details the functions of these entities in destination development, highlighting the roles of international agencies in national-level cooperation, local governments in fostering early growth, and the United Nations World Tourism Organization in directing international efforts. The report also analyzes how local and national economic policies, such as GDP rates and monetary policies, indirectly affect the travel and tourism sector, influencing currency exchange rates and the ability of companies to thrive. The report references academic articles on public-private collaboration, internet usage in tourism, innovation research, and medical tourism, providing a comprehensive overview of the factors shaping the industry.

Travel and Tourism Sector

INTRODUCTION
This present report is based on the travel and tourism sector of
the Thomas cook. Thomas cook is the world known travel company
which is established by the Thomas cook at the international level.
Present report contain all relevant information like, different key
historical developments and structure of the travel and tourism
sector.

2.1 Different function of government,
government-sponsored bodies and
international agencies
There are different development of destination for the company
tourist people. They are as follows:
International agencies: The international agencies have
governmental and government sponsored for the tourism sector.
This organisation provides different cooperation and
coordination at the national level of the economy.

Continued..
Local government: It is also one of the sector which is effective for
the development of destination for their tourist. In the earlier time,
the local government was responsible for the growth and success of
the travel and tourism sector.
United nations world tourism organisation: In case of the tourism,
it is one of the important organisation for directing the international
organisation.

2.2 Influences of local and national economic
policy
The local and economic policy can influence the success of the
travel and tourism sector. In case of the UK, the travel and tourism
sector survive in the tourism sector because the GDP rate is high in
the UK and most of the company cannot pay the high GDP rate.

Continued...
The travel and tourism company should know about the policies of
the local government and can take benefits from the effective
policies of the government the governmental economic policies can
indirectly affect the travel and tourism sector. The affect can be
related from the monetary policy of government. The main aim of
the monetary policy is not for the tourism industry but the monetary
policy of the government does totally reflect the exchange rate of
the currency.

References
Zapata, M.J. and Hall, C.M., 2012. Public–private collaboration in
the tourism sector: balancing legitimacy and effectiveness in local
tourism partnerships. The Spanish case. Journal of Policy Research
in Tourism, Leisure and Events. 4(1). pp.61-83.
Garín-Muñoz, T. and Pérez-Amaral, T., 2011. Internet usage for
travel and tourism: the case of Spain. Tourism Economics. 17(5).
pp.1071-1085.
Hjalager, A.M., 2010. A review of innovation research in tourism.
Tourism management. 31(1). pp.1-12.
Heung, V.C., Kucukusta, D. and Song, H., 2010. A conceptual
model of medical tourism: Implications for future research. Journal
of Travel & Tourism Marketing. 27(3). pp.236-251.