Analysis of Hospitality Industry's Impact on UK Economy and Growth

This report examines the significant influence of the hospitality industry on the UK's economy. It highlights the industry's positive impacts, such as increased job opportunities and economic growth, particularly within the context of the UK market. The analysis explores the industry's contribution at local, national, and international levels, emphasizing how businesses can expand by targeting market shares and influencing travelers. The report also discusses the implications of the hospitality industry on the local economy, focusing on strategies to maximize customer spending and overall economic benefits for the UK. The contemporary hospitality industry is discussed, outlining the key factors affecting the industry.

Contemporary Hospitality Industry
P3 The contribution of hospitality industry to local, national and
international economies
Hospitality industry is one of the most impact-able industry in any of
the nation and because of that they are required to focus that how they
expand their business at greater platform. The best way to expand the
business in hospitality sector is by targeting the market share through
which travellers can easily influence. It will directly have the major
impact on local, regional and international economy. Positive and
negative impact of this economy has been explained below:
Local economy- Here, the major thing which is being checked
is that how organisation can satisfy their customer as that will have
direct impact upon the company. In context of UK, their hospitality
industry try to find the best possible way through which customer can
spend more amount of money. This is one of the positive impact upon
the local society of UK.
International economy- In current situation there are number of hotels who are
operating there business at international level. It has the direct impact on UK as it
has seen around 10 to 15 percentage growth at international level. This is one of
the reason that living standard of UK people have raised significantly
(Kandampully, Zhang and Bilgihan, 2015).
National level- The hotels industry have been much profitable in context of
UK as as a result it has become the third biggest growing industry. The main
benefit from this industry is that it helps to create more number of job opportunity
within the premisses of UK. This is the reason that UK market is developing day
by day.
There are number of small restaurants and food cafes which are trying to
enhance there business as hospitality industry is growing day by day within the