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Essay / The growth of the Hospitality and Tourism (H&T) industry
Economy is one of the major factors that have a great impact on the Hospitality and Tourism (H&T) industry . Economics plays an important role in all industrial fields around the world, especially in the H&T industry. This is because the economic situation can be affected by the value of money, demand in the industry, suppliers to the industry and many more. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay The fickleness of economies has such a big impact on demand and supply, whether globally or locally. During the recession, demand and supply in the H&T sector declined. This is because the monetary currency will fall and employment opportunities will also decrease. People are therefore forced to reduce additional costs and focus more on their basic needs due to diminishing financial resources. When the economic conditions are healthy, the demand in the H&T sector will be encouraging, hence the supply and demand will also be encouraging globally. When the economic situation is healthy, monetary currency will increase and employment opportunities will also increase. People will have more money to spend on travel. At the same time, it can amplify and develop our industry. However, the global economy is back on track and demand continues to increase day by day. Demand in the H&T sector is growing rapidly as people spend more on travel. However, some local countries are still experiencing economic inconstancy which could have short-term impacts on the H&T industry in their country (Pratap.A, 2018). The Copenhagen meeting in 2009 aimed to discuss ways to avoid global warming (UKESSAY, 2015). . Like other industries, this industry is also facing problems. For example, they need to solve the problem of an environmentally friendly business. Below is an environmental issue that is impacting the tourism industry and needs to be addressed by the parties involved and seeking long-term solutions. The problem of greenhouse gas emissions is a major concern for the industry. The aviation industry is working to solve this problem by launching a new aircraft using a higher quality engine to expose carbon emissions. However, only a few airlines are able to do this, as some smaller airlines are not able to purchase new aircraft. Figure of tourism, people can travel to unpredictable places by air transport because it makes travel costs much cheaper. This leads to overpopulation of the Environmental Focus Areas and Historic Area, which also results in ecosystem stresses that threaten the flora and fauna environment. Climate change also has a huge impact on this. Because tourists will not choose a destination with uncontrollable weather and bad weather. And of course, the region with a good climate will be a tourist destination. The impact on the region's ecosystem is very dangerous. Then there is logging, which continues to be massive in some areas, although this issue has been discussed around the world. It also threatens tourist areas through the destruction of flora and fauna. Subsequently, calls to “go green” may affect the travel industry worldwide. Because industry players will be depressed because they have to find ways to create a..