Olympic Games and Hospitality Industry
The cordial reception industry makes a major part to the UK economic system. It is a fact that the cordial reception concern employs a big per centum of people. This paper farther focal points on economic impact. It will be covered what is the chief grounds impacting demand. It will be analyzed about the planetary recession job and how the recession has been impacted on people. Below in the essay will be covered how The Titanic day of remembrance and The Olympics Games increase The United Kingdom economic system. The intent of this essay is to analyze and give practical illustrations related with the cordial reception industry.
First of all. the chief of import factors are that demand is affected by the degree of income andinflation in cordial reception concern. Inflation has affected every industry in theUK and particularly cordial reception and touristry. Harmonizing to Anon a. ( 2012 ) ”inflationis a rise in the general degree of monetary values of goods and services in an economyover a period of clip. When the general monetary value degree rises. each unit ofcurrency buys fewer goods and services” . The biggest issue of theinflation is that the monetary values are turning up. but the wage is non rose up.
Monetary values increasing have caused a lessening on consumers going every bit much asthey normally would wish. Furthermore. it is a fact that people spend less moneyon going abroad and remaining over in a luxury hotel. It is acquiring more andmore popular to do vacations at place. as it is the cheapest an availableoption. Many hotels compete with each other making particular offers to sell roomsfor the local occupants. Besides regular clients have even reduced their spendingmoney on traveling and remaining in hotels.
We will cover another one a negativefactor that rather period in hotels lead to cut down staff. During recession everyindustry has to cut down forces due to fear of traveling into settlement ofbusiness. Another one the biggest a planetary job in the universe is recession. Recession is a period of impermanent economic diminution during which concern activity are reduced. Jobs are on the autumn everyday. The recession has impacted on every industry in UK. particularly hotels and touristry concern. as people chiefly reject going if they do non hold money.
Many people are affected by recession and as a consequence they lose occupations. Furthermore. the authorities should back up the cordial reception industry in order to cut down fiscal troubles inthe state. Furthermore. the authorities has to assist in cut downing revenue enhancements in this wayit is aim to survive hotels. Due to crisis state of affairs the Bankss stoppedproviding loans for people. The authorities should non increase revenue enhancements and anyother charges in order to maintain the cordial reception industry in good economicsituation.
Next. there is no doubtthat London the Olympic games in 2012 is a major event in the universe. “Let us take theexample of a finish such as London. which attracts a high volume ofoverseas visitants. The flow of those visitants will be affected by a great manydifferent factors. For illustration. if tourers can buy more lbs sterlingfor their ain currency or air menus to the finish have fallen or a majorevent. such as an international athleticss event – The Olympics – is beingorganized – all these factors will promote tourer to see the city” ( 2009 P.
92 ) . At that minute many people are going to London from all over the universe inthis manner they will increase the economic system but it will last merely for the Olympic Gamesperiod. It is a great opportunity for economic increasing during the games asbooking of the suites are dramatically rose and follow by this the monetary values alsoare increased. So. every industry will be affected and staff is recruitedduring the games period. Furthermore. in the cordial reception industry after theOlympics games will be an economic recession and many employees will lose occupations.
So it can establish positives and negatives facets from economic side. It is afact that the games grow up the degree of tourers in London. By the manner. Northern Ireland is besides involved in Olympics and in the terminal of July in NI willbe events related with the games. Furthermore. the whole UK economic system is affectedby the games and it makes a immense net income for the cordial reception industry. In Northern Ireland isvery compensable twelvemonth as it was memorialization one hundred twelvemonth of the sinkingof the Titanic ship. In March and April it was opening of the new Titanicbuilding – Titanic Quarter.
Millions lbs were invested into the titanicbuilding. This international public event attracts many tourers. Furthermore. Belfast metropolis was involved in the event ; it was many festivals and exhibitions. Furthermore. the whole cordial reception industries eager for increasing the Budge ofhotels so they were seeking to integrate hotels besides in this particular event. For illustration the merchandiser hotel was besides involved in this outstanding event. asthe hotel was decorated like the titanic ship. The Bar staff got new uniformsfor this period being more involved in the event.
So the hotel attracted a lotof tourers from all over the universe. It is a fact that the monetary values grew up forthe Titanic day of remembrance. The general director of the merchandiser hotel Adrian McLaughlinsaid that “the gross was surprisingly really high he mentioned that theydid non anticipate so many tourers in the hotel” . So. the internationalTitanic event increased Northern Ireland an economic state of affairs. but after theTitanic festival for twosome of hebdomads it was a prostration in the hotel. so employees’hours were cut.
Over all it is a factthat during recession period everybody has to be involved in a economy procedure. So. the biggest factor is income which affects people to salvage money and tospend money merely on precedence things. These yearss a batch of group of people rejectto travel someplace abroad because of holding fiscal troubles. There isno uncertainty that there is still a long manner to travel until the recession is over. Millions of concerns throughout the universe are in bad current economic clime.