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Explain the entrepreneurial opportunities in the tourism industry. |
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Answer» Entrepreneurial opportunities in the tourism industry are – 1. Restaurant/hotel business – The demand for the necessary component of tourism – hotel/Restaurant- has a constructive co-relation with the tourism industry, i.e. they are complementary to each other. The growing tourism business has resulted in increased demand for hotels and restaurants. 2. Star hotel – To establish a business in the form of chain hotels by affiliation to an international hotel company or group as a high-end five-star hotel. 3. Heritage hotel – Starting Heritage hotel business at a historical palace, or fort built before 1950, by acquiring it. 4. Paying Guest House – Engaging in self-employment by using and operating a paying guest house in available additional space in one’s own house. This trend is increasing at present. 5. Mid-way Hotel/Restaurant – Nowadays, the trend of setting up hotels or restaurants on roads or additional highways connecting the tourist places has also picked up.
This change is also seen in the tourism sector that many tourists go to favourable tourists spot only for health benefits. In addition to the natural environment at locations, tourists also use yoga, meditation, herbal treatment and massage to get enjoyment and happiness. This has become a good business with low capital investment.
For recreation and entertainment of the tourists and children’s play, artificial scenes of sea, river, lake, waterfall and forest are created in the park with the help of modern equipment and techniques in present times. |
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