Inflation Effects on Australian Hospitality
Executive Summary
Over the past few years, the Australian Hospitality has performed poorly due to the impacts of inflation. How to curb inflation has been regarded to be the foremost purpose of government economic policies in several countries. It is worth noting that the effective policies that aid in curbing inflation need to center on the fundamental causes of inflation in the country and particularly in this regard the hospitality industry of Australia. Although there has been significant growth and expansion of the Australian industry for the past few years the impacts of inflation to this sector has contributed significantly to a decline in the overall expansion of this sector. This can be attributed to the ineffective and inefficient government policies employed by the Australian government in curbing inflation. This research study below was carried out in Australian cities perceived to be areas that the hospitality industry has its roots in terms of the industry business undertakings. Also a number of both local and foreign tourists were involved during the study. The researcher used simple random technique in reaching out the target sample and administers questionnaires to them. The pertinent information deemed to be important when conducting this study was collected from government officials, for example the central bank and the treasury of Australia. The major findings that were found are; there was verification that inflation has affected the Australian hospitality in that the industry has experienced slow growth and minimal expansion for the past few years.
There was also significant drop on Gross National Product that was as a result of poor economic conditions attributed to inflation that affected many sectors of the economy. It was also found out that the government can only control inflation by employing good monetary and fiscal policies that fosters growth and development in the economy including the hospitality industry. The researcher also
Over the past few years, the Australian Hospitality has performed poorly due to the impacts of inflation. How to curb inflation has been regarded to be the foremost purpose of government economic policies in several countries. It is worth noting that the effective policies that aid in curbing inflation need to center on the fundamental causes of inflation in the country and particularly in this regard the hospitality industry of Australia. Although there has been significant growth and expansion of the Australian industry for the past few years the impacts of inflation to this sector has contributed significantly to a decline in the overall expansion of this sector. This can be attributed to the ineffective and inefficient government policies employed by the Australian government in curbing inflation. This research study below was carried out in Australian cities perceived to be areas that the hospitality industry has its roots in terms of the industry business undertakings. Also a number of both local and foreign tourists were involved during the study. The researcher used simple random technique in reaching out the target sample and administers questionnaires to them. The pertinent information deemed to be important when conducting this study was collected from government officials, for example the central bank and the treasury of Australia. The major findings that were found are; there was verification that inflation has affected the Australian hospitality in that the industry has experienced slow growth and minimal expansion for the past few years.
There was also significant drop on Gross National Product that was as a result of poor economic conditions attributed to inflation that affected many sectors of the economy. It was also found out that the government can only control inflation by employing good monetary and fiscal policies that fosters growth and development in the economy including the hospitality industry. The researcher also