2011: 71-80 ISSN 2229 -600X IMPACT OF RECESSION ON TOURISM INDUSTRY Sherwood College of Professional Management‚Lucknow ABSTRACT Tourism industry has contributed enormously in the flourishing graph of India ’s economy by attracting a huge number of both foreign and domestic tourists travelling for professional as well as holiday purpose. Terror threat‚ swine flu scare and hike in air fares and above all the great economic depression hit the tourism sector hard in 2009 with number of foreigners
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Tourism is travel for recreational‚ leisure‚ or business purposes. The World Tourism Organization defines tourists as people "traveling to and staying in places outside their usual environment for not more than one consecutive year for leisure‚ business and other purposes". Tourism has become a popular global leisure activity. After slowly recovering from the contraction resulting from the late-2000s recession‚ where tourism suffered a strong slowdown from the second half of 2008 through the end
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Explanation on the positive effects of a recession The recession is good for the economy. A recession means that there is a negative growth in GDP in a country during two successive quarters. During a recession people lost their jobs‚ companies go bankrupt and governments run deficits but these effects do not outweigh the positive effects of a recession. Education Education is feeling this sharply – whether you’re a school pupil‚ a university student‚ a teacher‚ a lecturer‚ a researcher‚ a library
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Due to the size‚ strength and impact of the tourism industry on local economies worldwide‚ the debate over the positive and negative effects of tourism is little more than a mental exercise. But to develop sustainable tourism policies‚ a thoughtful consideration of these effects is necessary. This essay will argue that there are much negative sides outweighed the positive sides‚ and suggest how to minimize the negative effects of tourism. Economic Effects Tourism’s primary benefit is the profit
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INTRODUCTION Here a definition a recession as well a global recession is mentioned. Some causes and effects has been listed. Due to recession occurring‚ I have identified the effects of recession based on Tesco. The causes and effects of global recession. Global financial crisis‚ increasing for a while‚ began to show its results in the mid of 2007 into 2008. Worldwide stock markets have subsided‚ financial institutions have dropped and governments in even the richest nations have had to
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A recession is the contraction phase of business cycle. The official agency in charge of declaring that the economy is in a state of recession is the nation bureau of economic research. According to NBER the recession is defiend as “Significant decline in economic activity lasting more then a few months”‚ which is normally visible in GDP‚ real income‚ employment‚ industrial production‚ and wholesaler- retail sales. WHAT CAUSES RECESSION ? An economy which grow over a period of time tends to
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Impact of Recession and its effects on HRM INTRODUCTION: The world has suddenly plummeted into a deep economic crisis (called Global Meltdown or Financial Tsunami)‚ the worst ever since the 1930’s. It has almost taken all the countries across the globe into its grip. Almost all the sectors of economy with varying degrees have caught business by surprise during the current global downturn with so much swiftness that every day has become a question of survival. Organizations are grappling with
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Impact of Recession on IT industry in India Author : Dr. Kotkar S.N. Abstract A recession is a contraction phase of the business cycle. The effect of recession is on all sectors but the main effect is on IT industry. In that mainly related to lob loss and unemployment. There are also some remedies on recession which helps to become a stable in the market. This paper presents the reasons of recession‚ impact of recession on IT industry in India and remedies on recession. Keywords: recession‚ Job
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NEGATIVE EFFECTS OF TOURISM on the ECOLOGY of JAMAICA by Elaina Kozyr BLPR 101.51 Introduction Tourism and the environment have a very complex and interdependent relationship. Today‚ tourism is one of the largest industries in today’s world economy and is a great source of foreign exchange for many developing countries‚ whose major assets are their natural resources.1 At the same time‚ it is the environmental quality of a place that will determine the success of the tourism industry
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of the place and even damage some historical sites. - If the tourism master plan of a destination was also not observed (i.e. building high-rise properties when there should just be a maximum of 3 floors)‚ then these establishments pose a problem when there are natural calamities like earthquakes. Overcrowding‚ misuse of natural resources‚ the construction of buildings and infrastructure‚ and other activities associated with tourism‚ produce impacts on the environment. These impacts may be not
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