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Essay / Research Paper Abstract
An 11 page paper addressing two questions: How important is marketing in the international hospitality industry in terms of creating trends? Have international hospitality organizations responded to or created global trends? Marketers obviously would like to believe that they have been able to affect the travel decisions of both the global consumer and the euro consumer, but the effects of recession and terrorism work to dilute their claims. This paper traces the course of broad economic development during the prosperous decade of the 1990s; its influence in increasing international travel; and the responsibility of the effects of recession and terrorism in placing intense financial pressure on the international hospitality industry. Bibliography lists 8 sources.
Page Count:
11 pages (~225 words per page)
File: CC6_KShotelGloEuro.rtf
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Unformatted sample text from the term paper:
important is marketing in the international hospitality industry in terms of creating trends? Have international hospitality organizations responded to or created global trends? Marketers obviously would like to
believe that they have been able to affect the travel decisions of both the global consumer and the euro consumer, but the effects of recession and terrorism work to dilute
their claims. Evolution in Europe At the time of the Maastricht accords in 1992 that set the stage for the monetary union and
a "borderless" Europe, great economic disparity existed among the nations of Europe. At Maastricht in 1992, Germany was able to push through some stringent requirements for membership in the
then-future European Monetary Union (EMU). Germanys economy was performing better than most European nations at the time but took a turn for the worse as the recession of that
time spread throughout the world and the pressures of competition and globalization began to more greatly effect the Germany economy. As the time neared for deadlines of assessing national
economies for the first wave of membership in the EMU, Germany was in danger of missing the first wave. All of Europe improved in those years of 1997 and
1998, and all of Europes leading economies opting into the union were able to join in the first wave in 1999. What the
European leaders envisioned at Maastricht was a borderless Europe so that economic extremes could be evened out without losing value to regulatory differences and currency conversion expenses and inefficiencies.
The French economy is quite healthy at present, but it was plagued with double-digit unemployment for several years of the 1990s while Italy needed workers in its financial and high-tech
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