Question

Is applied economics related to tourism and hospitality?Discuss your answer.​

Answer 1

Explanation:

All sectors of the economy play an important role in making a stable and long running development. ... Tourism is one of the sectors which plays an important role in development and also generates foreign revenues.

Answer 2

Answer:

This paper aimed to develop a concrete understanding of economics topics and methodologies that have been applied to hospitality research and to suggest areas for further research.

1. Content analysis of 292 full-length articles was performed. The results showed that the contributions of economics to hospitality literature were largely empirical and microeconomics-related.
2. Most of the research topics focused on market analysis, which involves demand and supply modelling and price determinants, followed by performance analysis, involving efficiency and productivity studies.
3. Limited contributions of macroeconomic topics to hospitality were determined, highlighting the lack of studies on the impact of government or public policies on the hospitality industry.
4. Moreover, the application of game theory to market structures was found to be limited, creating a vacuum in terms of understanding the competitive and cooperative behaviours of hospitality firms.
5. As a contribution to the literature, the study provides suggestions for future research.

Heyy!! plzz Follow