Inflation Effects on Australian Hospitality

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Executive Summary

Over the past few years, the Australian Hospitality has performed poorly due to the impacts of inflation. How to curb inflation has been regarded to be the foremost purpose of government economic policies in several countries. It is worth noting that the effective policies that aid in curbing inflation need to center on the fundamental causes of inflation in the country and particularly in this regard the hospitality industry of Australia. Although there has been significant growth and expansion of the Australian industry for the past few years the impacts of inflation to this sector has contributed significantly to a decline in the overall expansion of this sector. This can be attributed to the ineffective and inefficient government policies employed by the Australian government in curbing inflation. This research study below was carried out in Australian cities perceived to be areas that the hospitality industry has its roots in terms of the industry business undertakings. Also a number of both local and foreign tourists were involved during the study. The researcher used simple random technique in reaching out the target sample and administers questionnaires to them. The pertinent information deemed to be important when conducting this study was collected from government officials, for example the central bank and the treasury of Australia. The major findings that were found are; there was verification that inflation has affected the Australian hospitality in that the industry has experienced slow growth and minimal expansion for the past few years.  There was also significant drop on Gross National Product that was as a result of poor economic conditions attributed to inflation that affected many sectors of the economy. It was also found out that the government can only control inflation by employing good monetary and fiscal policies that fosters growth and development in the economy including the hospitality industry. The researcher also outlined his recommendations that is associated with this study and pointed out some areas of concern that need to be addressed

Acknowledgement

This project could not have been successful without the support of various persons that influenced this study in one way or another. I would particularly point like to thank my lecturer for the guidance that he gave me throughout this study. I would also thank the respondents for availing their times and answer the questionnaires in a thorough way. 

Table of contents
CHAPTER ONE: INTRODUCTION 6
1.0 Introduction To the study 6
1.2 Background to the study 7
1.4 Research Objectives 8
1.5 Research Questions 8
1.6 Significance of the study 9
1.7 Limitations of the Study 9
CHAPTER TWO: LITERATURE REVIEW 10
2.0 Introduction 10
2.1 Causes of inflation 11
2.2 Rise in demand for higher wages 11
2.3 Adjustment of exchange rates 12
2.4 Rising interest rates 12
2.5 Price control measures 13
2.7 Ways of controlling Inflation 14
CHAPTER THREE: METHODOLOGY 15
3.0 Research Design 15
3.1 Sampling Procedure 15
3.2 Method of Data collection: 16
CHAPTER FOUR: DISCUSSION 16
4.0 Results 16
CHAPTER FIVE: CONCLUSION AND RECOMMENDATION 19
5.0 Conclusion 19
5.1 Recommendation 20
7.0 APPENDICES 21
7.1 Appendix A. Survey Questions/ Questionnaire 21
7.2 Appendix B. Acknowledgement of consent form 22

List of Tables and Figures
Figure 1 inflation as measured consumer price index…………………………..11 Table 1 Hotel owners response to impact of inflation…………………………...15 Table 2 Tourist response to impact of inflation………………………………...…15 Table 3 Hotel owners response to causes of inflation…………………………...16 Table 4 Tourist response on causes of inflation………………………………….16 Table5 Hotel owner’s response on methods of controlling inflation…………...17 Table 6 Tourist response on methods of controlling inflation……………….......17

CHAPTER ONE: INTRODUCTION
1.0 Introduction To the study

Inflation is a phenomenon that has affected all...
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