Summary
1.Tourism & related Airline Industry is Key economic barometry for some countries including US. 2. These sectors are source of major employment/unemployment. 3. Industry is Major source of Foreign Exchange inflow, the balance of payment situation could be effected by negative factors effecting this Industry.
Analysis
The News of negative turn in Tourism Industry will effect many related Industry, the industries/Products & services likely to be effected are summurised as follows:
1.Airline
2.Hotel & leisure
3.Shopping Malls & Retail Space Prices
4.Travel Agents.
5.Internal Road Transports.
6.General retail Business .
The first and foremost hit will be taken by Airlines and Hotel Industry due to reduced traffic and may lead to immediate Lay offs in these Industry. Since these Industry employ large population , and immediate negative effect on reduced domestic consumption is inevitable.
Total lack of demand on key domestic products , could force major retail outlets to close down , resulting in abondance of retail space and possible down turn in Retail Space pricing.
Other industries like Internal Transport, travel agents may suffer uniformly with Airlines and hotel industry.
