A critical analysis of the 2007 - 2009 global financial and economic crisis and its implications for the travel industry and associated businesses

Inhaltsverzeichnis (Table of Contents)

• INTRODUCTION
• HOW THE 2007-2009 GLOBAL ECONOMIC CRISIS EVOLVED
• Recent historical background
• The problem of sub-prime lending
• The end of an era
• Effects of the financial crisis on the real economy
• RESEARCH METHODOLOGY
• IMPACTS OF THE CRISIS ON THE TOURISM INDUSTRY
• General aspects
• Key negative impacts
• Decreased public funding for tourism projects and infrastructure
• Restricted access to capital
• Excursus: Unemployment in the tourism industry
• Changing patterns in leisure travel
• Changing patterns in corporate travel
• Selected possible opportunities
• Shift in source markets
• Intensification of the trend towards 'Smart tourism'
• New spirit of companionship
• Other opportunities
• DISCUSSION AND CONCLUSIONS

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This paper provides a critical analysis of the global financial and economic crisis of 2007-2009 and its implications for the travel industry and related businesses. The paper examines the origins and evolution of the crisis, focusing on the role of sub-prime lending and the subsequent impact on the real economy. The main objective is to understand how the crisis impacted various aspects of the tourism industry, including travel patterns, funding for tourism projects, and the availability of capital. The paper also explores potential opportunities that may arise as a result of the crisis, such as shifts in source markets and the rise of "smart tourism." * The origins and evolution of the 2007-2009 global financial and economic crisis * The impact of the crisis on the tourism industry, including negative impacts and potential opportunities * The changing landscape of travel patterns, both leisure and business * The role of "smart tourism" in the post-crisis era * The importance of understanding the macroeconomic factors that influence the tourism industry

Zusammenfassung der Kapitel (Chapter Summaries)

The introduction provides a brief overview of the topic and its significance. Chapter 2 delves into the origins and development of the 2007-2009 global economic crisis, exploring the role of sub-prime lending, the housing market bubble, and the subsequent impact on the real economy. Chapter 3 outlines the research methodology employed in the paper. Chapter 4 examines the impacts of the crisis on the tourism industry, identifying both key negative impacts such as decreased public funding and restricted access to capital, as well as potential opportunities, such as a shift in source markets and the rise of "smart tourism." The paper concludes with a discussion of the key findings and their implications for the future of the tourism industry.

Schlüsselwörter (Keywords)

The paper focuses on the following key topics: global financial crisis, sub-prime lending, tourism industry, travel patterns, smart tourism, destination marketing, economic impacts, crisis management, and potential opportunities. The paper examines the macroeconomic factors that influence the tourism sector and highlights the importance of understanding the interconnectedness of global economies.