review recent economic trends

  1. In the first part of your report, you must review recent economic trends in the hotel industry in Auckland, New Zealand. You will need to show an understanding of the main features of these economic trends and to demonstrate your understanding of the “principles of economic analysis” in addressing the following instructions: (1000 words)
    • ·  Examine the main economic features and trends (research what will be happening in the future in 2 years and past , what happening in the past) in the Auckland, New Zealand hotel industry.
    • ·  Choose five different factors that could affect supply (all about profit) and/or demand in this market and use appropriate diagrams to explain their effect on this market.
    • ·  You should compose this part of discussion in an academic report format which includes:
  • executive summary
  • table of content
  • introduction
  • body
  • conclusion
  • recommendations
  • references (10 academic journal article – APA 6th reference style)
  1. In the second part of the report, you MUST participate in ONE local tourism event and discuss how “event & festival tourism” has become one of the main destination management strategies in NSW. (https://www.visitnsw.com/events) Based on your observations, discuss the promotion of both the local economy and the accommodation business through local tourism events. (1000 words essay)Write an essay to reflect how tourism events create economic multiplier effect in visitor economy. As an accommodation provider, how you could leverage from the visitor data and provide the right product differentiation to event visitors according to the visitor profile obtained in the 2019 Lithgow Halloween visitor survey report
    • ·  Examine the impact of tourism events & festivals to local economic growth (apply supply and demand concept as discussed).
    • ·  Incorporate the “multiplier effect” concept and examine the impact of tourism events and festivals on local employment opportunities.
    • ·  As a local accommodation provider, illustrate what types of product differentiation you may provide during the event to promote your business.
    • ·  This part of the report should be treated as a separate section from part one. You are only required to address the above three discussion points.

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