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What is the effect of global economic crisis to hotel industry?
Wiki User
∙ 15y ago
Hospitality industry is closely related to tourism. By the advent of global crisis, it's easy to figure out that tourism industry is down. So, relating to that, one can say hospitality industry also suffers. Moreover, those who can still afford to consider the hospitality of the industry are busy with their works too as the crisis has put extra burden in their work life.
Wiki User
∙ 15y ago
Wiki User
∙ 13y agoMost travel and tourism involves discretionary (extra cash lying around to spend on anything) expenses and if people have less of it, then the tourism industry will be affected. People want to conserve their cash so they can pay for the necessities (food, shelter etc). Their holiday/travel plans can change. They could spend less when going on holidays, travel closer to home or just not travel at all. This can be during an economic crisis or even when something happens in another part of the world like when the Icelandic volcano erupted in 2010 which disrupted flights and holiday plans for thousands of people.
Wiki User
∙ 12y agohow strong is the crysis in the European hospitality industry
Wiki User
∙ 13y agoaneh baba khan has had an effect of the hospitlaity industry..
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