Question

what is the role of entrepreneurship in tourism and hospitality industry?

Answer 1

Answer:

eliminates societal problems, but surge the fiscal growth and development of a country

Answer 2

Entrepreneurship:

• Entrepreneurship is a process of coming up with new ways to combine resources.
• Whenever the market value created by this new set of resources exceeds the market value created by these resources independently or in other combinations, the entrepreneur makes money.

Role of entrepreneurship in tourism and hospitality industry:

• Without it, businesses in the tourism and hospitality industry would quickly become stagnant and, eventually, obsolete.
• Tourism entrepreneurship not only solves societal problems but also boosts a country's fiscal development and growth, leading to an increase in GDP.
• New technologies have enabled hospitality businesses to provide greater convenience and control, which is a big draw for the next generation of customers.