Economic Factors and Recession

Front

Name 4 economic factors

Back

Recession, fuel costs, levels of employment, exchange rates, boom

Front

Definition of recession

Back

When the economy of a country (GDP) drops.

Front

What happens to a persons disposable income during a recession

Back

There is less -

they have less

Front

Is the impact of a recession on tourism positive or negative?

Back

Negative

Front

What impact might a recession have on a tourists choice of holiday/what they might do on holiday?

Back

Choose a domestic holiday as some people lose jobs and don’t have disposable income to spend on holidays abroad. Choose shorter holidays, wont go on excursions, stay in budget hotels.

Front

Definition for Exchange rates

Back

The value of the currency of one country against another.

Front

Impact of weak pound on tourism in America

Back

Tourists have less money to spend in the destination, shorter duration holidays, less luxury holidays.

Front

Impact of weak dollar on UK tourism

Back

Americans will get less for their money and therefore UK tourism from American tourists will see a decline.

Front

Meaning of fluctuates

Back

Goes down and up

OR

Rises and falls

Front

Give examples of Travel and tourism organizations impacted the most by the rise in fuel costs

Back

Transport (taxi's, planes, cars, trains, coaches)