What is the effect of the global economic crisis on hotel businesses Essay

What is the effect of the orbicular stinting crisis on hotel businesses throughout Switzerland - Essay ExampleIt is organized as follows. incision 2 discusses the international trends regarding the mend of global financial crisis on the performance of luxurious hotels. Section 3 discusses the impact of global financial crisis on the luxurious hotels in Switzerland. Section 4 discusses the impact of global financial crisis on the visits of guests especi entirelyy foreign guests in the hotels. Section 5 discusses the impact of global financial crisis on the unemployment trends in the Switzerland hotel market place. Section 6 concludes the report.Since the tourism market, particularly the hotel business is the part of a countrys overall economy, all the major conditions in the overall economy are likely to have an impact on this market also. The trends in the European market show that there has been wakeless decline in the investment in the hotel investment market all over Europe .It was the highest in the UK market followed by France and Germany. There has been heavy decline in the hotel occupancies and the unemployment rates all over the European market ((BNP Paribas real estate, 2009).In Switzerland, tourism is considered as one of the main contributors to the countrys wealth and hotel businesses are of the essence(predicate) components of the tourism industry(OECD,2000). The luxurious hotels in Switzerland have been attracting tourists from all over the world historically. However, in the aftermath of the global financial crisis in 2008, there has been a significant fall in the demand for luxury goods since mess had to save money for essential goods like food, housing etc. This has led to a drop belt down in the luxurious hotel businesses in Switzerland. Hence, though it is reported that the hotel industry in Switzerland has recorded 37 zillion overnight stays in 12 months at October end greater than the 12 months period in the last year, according t o reports ,a 3 percent fall in the overnight stay