Characteristics of the Travel and Tourism Industry
You should be able to give examples if these characteristics in the UK Travel and Tourism industry research into the operations of different types of organisation.
1. The industry is private sector led
- Normally aim to generate a profit and increase market share
- Provide customer with products and services
- Often household names: Virgin Airways, P&O Ferries
- Large companies hold 50% of market
2. The majority of businesses in the industry are small and medium sized but the industry is dominated by a number of large organisations.
- Multiples – name given to the largest companies which have multiple outlets such as Going Places Travel Agent, they tend to dominate the industry. This has made travel and tourism more affordable for customers but mass tourism can have negative impacts on the environment, local culture and smaller businesses who can not afford to compete.
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