International hospitality business

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ASSESSMENT B: Individual Essay
Discuss the significance of the hospitality industry to the regional, national and global economies.
Describe, with clear reference to a range of sources, how the hospitality industry may be classified into different sub sectors.
Choose one sector of the industry from yourclassification above:
* Demonstrate how your chosen area contributes to the hospitality industry as a whole.
* Discuss some of the major players and their contribution to this sector.
* Present data to support your research.
* Discuss two major features that are of current importance to this sector.

Submission date: Thursday January 21st 2010

The mostimportant service sector: The Hospitality Industry
According to (2010) the hospitality industry includes restaurant, food services, hotel, entertainment sectors and resort industry. It is a dynamic sector through the development of people’s mobility worldwide. It is a large and diverse sector at different levels and, also it offersunlimited financial potential but unpredictable. First of all tourism and hospitality is important for pleasure, gastronomy and travel have become essential for modern society. People want to work in order to be able to pay vacations and holidays where and how they want. Moreover, the hospitality industry is representative of the culture of each country, which can then be expressed and identifiedthrough this industry. The hospitality industry is especially important in the economy at global, national and regional levels.

Globally, the hospitality industry is significant for the economy because it is interdependent with other industries. Agreements are made between tourism and other local businesses as with airlines agencies, car rentals, museums, local attractions. The hospitality industryprovides many customer and money to these companies. According to and, that more it is the largest employer in the world: it represents 8.7% of jobs in the world with approximately 230 million employees. In the EU this sector represents 1.7 million businesses, over 9 million jobs with a turnover of 182 billion Euros. In addition there are start-upsconstants in this sector, that who is vital to have in the economy’s country. This industry generates cash flows and real flows regularly which created interdependence between economic agents which are households, businesses, governments and the world. These movements of money are needed to maintain a good GDP in each country. Without the tourism industry there would be more unemployment, fewer storesand local attractions disappear. But this is not going to happen because the international tourism has doubled globally in recent years and the expected continued growth at a rate of 3 to 4% per year until 2020.

At the national level, France is the first country to welcome international tourists with 81.9 million of tourists in 2007 (+3.8% in a year). And revenue from international tourism inFrance generates 54.2 billion U.S dollars in 2007. Spending in French businesses by foreigners are estimated at 39.6 billion Euros while those of French made abroad are to 26.8 billion Euros. This gives us a positive balance of 12.8 billion of Euros in favor of France. At French national level the hospitality industry is the fourth employer in the private sector and created 15,000 jobs per yearsince ten years. At the end of 2007, the INSEE counted 880,400 employees and 170,000 non-employees in the hospitality industry. And, on the 400,089 new businesses in France in 2007, services to individuals have created 45,804 companies and hotels cafes and restaurants have created 19,449 businesses. All businesses in France have a total turnover of 69,636 million of Euros. In economic terms, in ten...
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