Economic Analysis of the UK Hospitality and Tourism Sectors

This report analyzes the economic impact of the UK's hospitality industry, focusing on its influence at local, national, and international levels. It highlights the industry's contribution to job creation, revenue generation, and overall economic growth. The report references the ONS report on the hospitality sector's employment contributions and discusses how multinational organizations within the UK contribute to the global economy by providing services. Additionally, it explores how the hospitality sector can be expanded to provide better services to the customers and how it influences the customer to spend money. The report also mentions the industry's role in showcasing national culture and beliefs, and its impact on local economies by providing services to the guests visiting the hotel. This document is available on Desklib, a platform providing AI-based study tools and resources for students, including past papers and solved assignments.

nd Functional unit
Contemporary Hospitality Industry
In present situation, hospitality industry is one of the fastest growing
industry which even helps to demonstrate the culture and believes of
any of the nation. If company wants to expand its business at bigger
platform it is necessary that they need to think that how business can be
expended at greater platform. The main benefits of hospitality industry
is that it helps to bring positive impact on local, national and even
international economics. The detail description about this economy
have been explained below:
Local economy- In this, hospitality sector tries their best to deliver the best form of
services to the guest who visits the hotel in very quick succession that helps to grow
the overall economy at local level. In the recent report of UK market, it has been
found that hospitality industries try to satisfy need and wants to customer where
they try to convince customer for spending higher amount of money for providing
the best form of services. This is one of the reason which proves that hotel
industries do have positive impact on local economy when it is compared with other
sector industries.
National economy- Hotels and travel & tourism industry do have great influence
with in the market of UK as it increasing day by day and even it is capable of
influencing the tourist. As per the report of ONS, hospitality sector is the third
largest sector when it comes to generate employment within UK. It is helpful for
Great Britain in generating more revenue (ECONOMIC CONTRIBUTION OF
THE UK HOSPITALITY INDUSTRY, 2018).
International economy- There are thousand of multinational
organisation do exist within the premisses of UK whose main motive is to give
qualitative services to customer. This is helpful for the purpose of contributing in
the growth of global economy. It is helpful in generating morejob opportunity
within the premisses of UK and even many of the people do apply from other
nation for joining hospitality industry in Great Britain.
The contribution of the hospitality industry