Introduction
With the proper analysis and interpretation, the content of the report is being developed so as to fulfil the aim which is in concern with the British economy. This report will have the discussion in regards with the hospitality industry. As the hospitality industry have a great impact on the economy of the country and have an important role in the development of the economy.
The report will also have the discussion regarding various legislation regarding the hospitality industry and the discussion will also include various rights of tourist that are being set by the government and legislation authorities of UK
Task 1
(A) Discuss the market structure as it exists in England and identify its impact on the hospitality industry at both national and local levels
Market Structure:
Market is structure is one of the most important aspects for every industry whether it is a hospitality industry or any other industry; it is like a pillar for the hospitality industry. It is of various kinds and has certain authorities available in the market. It’s a fact that service sector have a very important role in British economy and one of the major contributor in it is the hospitality sector. Various market structures have a direct impact on the British economy at national level.
Free Economy, Perfect/Imperfect Competitors:
There are ample of opportunities available in the free market economy that are being provided to the hospitality sector as it helps in the development of the economy of the country. Perfect competition also provide a set platform to the hospitality sector as it provides good share of hope to the sector via which the sector could refine its management of work in an effective and efficient manner. Imperfect competition doesn’t provide an effective market as it does not contain stability in the process.
Monopoly, Duopoly Structures:
There are numerous of options available in the oligopoly marker for the hospitality sector and helps in developing their personalities. In duopoly there are only two players in the market who set their own rules in the market.
England Market Structure:
In England the market structure is comprise of monopolistic market. The hospitality industry have covered a vast area of market of England therefore the market is being dominated by Hospitality industry, and have an effective approach to maximise the profit. Some of the organization that is dominating the market are Inter Continental Hotels, Costa Coffee and Starbucks. (Jenning, 2001)
Impact of England Market Structure
National level:
Market structures that are available in England have a great impact on various aspects of the British Economy at national level. All the facilities are being provided by the big houses like wine bars, restaurants, hotels, etc. These clubs of big houses are available across UK which are domination the market and are making their own benefits. For example, Radisson Blu is the hotel which has its chain across UK which is dominating the market so as to earn profit.
Local Levels:
These big hotel chains are dominating the small businesses available in the local market and they are being affected with the process of the big firms. These big firms are directly affecting the costs of the small units. (Horner & Swarbrooke, 2001)
Sectors of the Hospitality Industry in England
There are over 180,000 leisure and hospitality establishments which employ over 2 million people all over England. It is about 7 % of the total workforce in the UK.
(B) Analysis of the effect that the initiative is likely to have on the development of hospitality related businesses in the area.
Amble is a small town, seaport and a civil-parish on the North-sea coast of the Northumberland in England.
There were several proposals for developing the small-business-village on the harbour side at Amble. Finally in 2014, the UK-Government’s Coastal Communities Fund granted £ 1.8 million in funding for the development of the Amble Harbour Village. (Wheelan & Hunger, 2010)
Some of the proposals which were put forth were enhancing and opening-up the waterfront and the harbour and also working with the local businesses such as the food retail-outlets, fishing-community and other town-centre businesses, to create a totally distinctive local-seafood offer.
The project for the development of the town was mainly centred on its seafood-industry and was drawn up by the by Northumberland County Council in a partnership with the Amble Development Trust of the Amble Town Council. The main aim of the project was to completely transform Amble into a tourist-destination that excelled in sea-food, thereby creating more employment and thus helping the wide economy to sustain in that area.
Finally, the Harbour-Village project was set to motion led by the Amble Development Trust. Keeping the Amble’s industrial, maritime and social history in mind and at the same time meeting the requirements of the growing tourism-industry, the Harbour-Village provides its visitors and the locals with fifteen individual retail-pods selling gifts crafts, art, food, drinks and accessories and also a sea-food centre for the preparation as well as distribution of the locally caught sea-food to the various local-businesses and the individuals. (Richardson, 2010)
This is a perfect example of how a town can develop its hospitality related-businesses in their area with the help of a proper Government economic-policy.
Government Economic Policies:
There are certain plans and policies that are being set by every government of the country. It is a duty of the government to manage its economy of the country and it can be done with the help of the business activities. The ways via which the activities of the government can be influenced are known as economic policies. (Dolnicar, 2013)
There are some economic policies they are:
- Fiscal Policy: Various taxes and the spending made by the public falls under fiscal policies. In this government set the tax rates according to the economy of the country and set the tax rates according to the performance of the various businesses.
- Monetary Policy: The amount of money in the economy is being controlled by setting the interest rates on the credits.
- Supply Side Policy: It is the policy which is being used to increase the productivity to increase the efficiency.
(C) Discuss the variety of ways that income/ wealth / the demand for labour/ the types of jobs available might affect the development of the hospitality sector in Hoxton.
There are various economic conditions that can affect the hospitality industry as the industry is totally dependent of the various economic conditions of the country. Any fluctuation in the economy can directly affect the industry, some of the factors due to which the hospitality employment of Hoxton gets affected.
Income:
Income is the factor that can affect the employment sector of Hoxton; it is a known thing that Hoxton is not a place where more of the people come to visit as it is not a tourist attraction place therefore less number of tourists will affect the income and due to less income the employment sector of Hoxton will be affected.
Wealth:
As discussed above the source of income for Hoxton is very less due to which the wealth of Hoxton also gets affected due to which the employment sector of Hoxton also gets affected as if the wealth is not effective than it is not possible to generate effective employment for Hoxton. (Horner & Swarbrooke, 2001)
Demand of Labour:
The demand of labour ion Hoxton is very less as it is not a tourist attraction place and there are very less number of people who comes to Hoxton for the purpose of tourism therefore the requirement of the labour also decreases and which increases the chances of unemployment. (Dolnicar, 2013)
Types Of Job:
As the scope of hospitality is very less in Hoxton therefore people of Hoxton do not prefer to do jobs in the hospitality sector and they do jobs in the areas where their profile could enhance and they could earn money in an effective manner. This is another factor that affects the employment sector of hospitality in Hoxton.
(D) Make an assessment of the ways in which the change, in this country from a heavy/ manufacturing industry base to a service industry base has influenced employment patterns in the hospitality industry in the Docklands area of London.
Docklands is the name given to the area in the east and the south-east London. Formerly, the docks were a part of Port of London and at one point of time it was well known as the largest port in the world. There are basically 3 kinds of docks that existed, they are the Wet-Docks, Dry-Docks and the Dockyards where the ships were finally built. In the 20th century, the docks were built and also managed by several competing private firms. However, from 1909, they used to be managed by the PLA (Port of London Authority). (Likorish & Jenkins, 2012)
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