The Impact Of Tourism On Tourism And Hospitality Business...

1. INTRODUCTION DESCRIPTION OF THE INDUSTRY The tourism industry is one of the greatest drivers to stimulate economic growth in the United Kingdom. According to figures by the government, tourism is the UK’s fifth largest industry, creating around 3 million jobs, generating approximately 127 billion pounds per year, and covering more than 200,000 small and medium sized enterprises (Oxford Economics, 2014). The ever increasing number of small firms in this industry draws attention to the importance of entrepreneurship in the tourism and hospitality business. Statistics show that 98.5 per cent of all hotels and restaurants in the UK employ less than 50 people (Oxford Economics, 2014). This number proves the claim long established by scholars that the tourism and hospitality industry is largely dominated by small to medium-sized entrepreneurial firms (Thomas, 1998, Morrison et al., 1998, Getz, 2004, Buhalis and Main, 1998). There is a body of literature that studies the complex combination of motives that that give rise to small businesses in tourism. It appears that the nature of small-scale entrepreneurship in the tourism industry is very different from that in other economic sectors. Specifically, the vast majority of entrepreneurs in tourism is lifestylers, meaning that they are not motivated by economic factors (Morrison et al., 1999). The significance of lifestyle motives within tourism entrepreneurship presents a particular feature that sets this sector apart from theShow MoreRelatedTourism : Tourism And Tourism1526 Words   |  7 PagesTourism is prescribed by the activities of people identified as visitors to a place. A visitor is not only someone who is travelling for leisure. A visitor is also someone who is making a visit for less than a year to a main destination outside his/her usual environment for any main purpose including holidays, leisure and recreation, business, health, education or other purposes†¦ (http://www2.unwto.org/) The hospitality industry includes enterprises that provide accommodation, meals and drinks inRead MoreThe Impact Of Tourism On The Hospitality Industry1534 Words   |  7 PagesINTRODUCTION Tourism is defined by the activities of persons identified as visitors. A visitor is not only someone who is travelling for leisure. A visitor is also someone who is making a visit for less than a year to a main destination outside his/her usual environment for any main purpose including holidays, leisure and recreation, business, health, education or other purposes†¦ (http://www2.unwto.org/) The hospitality industry includes enterprises that provide accommodation, meals and drinks inRead MoreImpact Of 2012 Olympics On Hospitality Essay1721 Words   |  7 Pages2012 Olympics and its impact on the hospitality industry of London. Research Background / Context On 6th July’ 2005 London was selected as the host city for the 2012 summer Olympic and Paralympics Games. The games is often labelled as the â€Å"greatest show on earth† which involves thousands of sports persons both men and women from around the globe aiming to reach the ultimate in sporting achievement. 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Tourism is anRead MoreStatement Of Mba In Travel And Tourism1006 Words   |  5 PagesTravel and Tourism Overview: Profession in travel and tourism gives gigantic chances to visit and investigate different destinations, their way of life and legacy. People usually gain insight from their travel encounters. To pursue a career in Travel and Tourism, sounds extraordinary to each adolescent as it enables an individual to tour worldwide and communicate with the other individuals. As indicated by the National Economic reports, currently, India spends just 0.97% of its GDP on Tourism againstRead MoreGlobalization in the Hospitality Industry1167 Words   |  5 PagesTourism is an industry that gives people the opportunity to explore and discover different cultures and many different countries. People are able to view attractions, dabble in local cuisine and experience life in a different country. Tourism is an industry that is rapidly growing as more and more people are traveling abroad. 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Before, during, and after the Fascism reign was when the policies that organizations of today were being created and trying to b e put in use for the betterment of the economy and industry at the times. The nation’s tourist structures functioned better and helped bring the economy out of their hard times caused by the mistakes of Fascism. Italy had remained a poor country during