The Impact of Inflation on the Tourism Industry

Discuss the impact of inflation on small and medium-sized enterprises in the tourism industry.

Provide a definition of inflation. List events that can lead to inflation. Explain the types of data, e.g., statistics that are used to identify that inflation is occurring and data that demonstrates the measured impact that inflation has had on SMEs. Give examples of both the negative and positive impacts that inflation can have on the tourism industry. Identify solutions that have been proven to ease the negative impact that inflation can have on the tourism industry. Use real tourism company examples to help demonstrate that the methods you are suggesting from research have been effective.