Culture and Society
There is a major reason why tourism and hospitality is being involved in a place or country. It is because of the Culture and Society, I think this contributes the people on doing something and give warm welcome to anyone who visits their places to make them feel comfortable. It's the people who makes culture more unique of their own.
Hospitality and tourism have impact in the macro perspective side of economics.
The definition of macro perspective of tourism and hospitality is indicated below.
Macro means whole. In economics, macroeconomics is the study of the whole economy. It includes all buying and selling, all production and consumption, and everything that happens in the economy. A common concept in macroeconomics is GDP or Gross Domestic Product. This is one of the primary indicators being used to gauge the health of a nation’s economy. It is the monetary value of all the finished goods and produced within a country’s territory within a specific period.
The hospitality sector includes accommodation, food and drinks outside a person’s home. It has various impacts in the macro side of economics. The impact to macro perspective of hospitality industry includes the employment that the hospitality industry generates. This sector also contributes to the total tax collection of economy. Employment and tax contribute to the total GDP of an economy.
On the other hand, tourism industry involves activities that involve travel, leisure, and sightseeing that attract tourists from various part of the world. Similar with the hospitality sector, the impact to macro perspective of tourism industry includes its contribution to tax and employment, which in turn contribute to GDP. On top of this, tourism also involves economic costs incurred for tourism businesses such as government costs for infrastructures to serve tourists and visitors better. Tourism’s economic impact is often always being considered in the planning and development of a nation.
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Hospitality generates revenue for local economies directly when tourists spend money in hotels, restaurants and entertainment venues. It also helps economies indirectly because tourists purchase retail goods, pharmacy items and locally made souvenirs and crafts.
It is an in-depth study of the nature and distinctive characteristics of each market segment of the tourism industry, client profiling including travel motivations and influences as it relates to aligning strategic and tactical solutions to the business.
Macro Perspertive of Tourism and Hospitality is an introductory book for students taking tourism and hospitality courses. This book aims to show the relationship between tourism and hospitality and introduce the important concepts that are common in the different sectors.
the macro and the micro is the macro is dot have a i and the micro dont have a a