Analyzing the Effects of Inflation on Hays Travel's Tourism Business

This report investigates the impact of inflation on the tourism industry, focusing on Hays Travel. It begins with an introduction to the tourism sector's growth and challenges, particularly the negative effects of the COVID-19 pandemic. The report defines inflation, differentiating between demand-pull and cost-push inflation, and discusses the impacts of increased money supply. It analyzes the negative effects of inflation on tourism, including increased prices, price sensitivity of customers, and its impact on employee retention. The report concludes with strategies for inflation management, such as monetary policy, reduction of unnecessary expenditure, and price control measures. The report also touches upon key operations and markets of Hays Travel. The report references various academic papers and studies to support its findings and recommendations.