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In 2015 the United Kingdom hospitality industry employed around 2.9m people – around 9% of the UK workforce. [12] By employment, it is the UK's fourth-largest industry. The most jobs in the industry are found in London (around 500,000) and South East England (around 400,000); 18% of workers in the UK industry are in London. There are around 1 ...
Education economics or the economics of education is the study of economic issues relating to education, including the demand for education, the financing and provision of education, and the comparative efficiency of various educational programs and policies. From early works on the relationship between schooling and labor market outcomes for ...
The WTTC performs and publishes research in conjunction with Oxford Economics on the economic and social impact of the travel and tourism industry. [3] The foundation of the WTTC's research activity is a set of annually produced Travel & Tourism Economic Impact Reports. These include a global report as well as 24 regional and 184 country reports.
Tourists at Niagara Falls.. Tourism geography is the study of travel and tourism, as an industry and as a social and cultural activity. Tourism geography covers a wide range of interests including the environmental impact of tourism, the geographies of tourism and leisure economies, answering tourism industry and management concerns and the sociology of tourism and locations of tourism.
There are a number of social, economic and behavioral reasons as to why the demonstration effect comes into play. One economic and social reason is that locals copy the consumption patterns of those higher up the social scale in order to improve their social status. [20] There are many criticisms of the demonstration effect in tourism.
Services constitute over 50% of GDP in low income countries and as their economies continue to develop, the importance of services in the economy continues to grow. [2] The service economy is also key to growth, for instance it accounted for 47% of economic growth in sub-Saharan Africa over the period 2000–2005 (industry contributed 37% and agriculture 16% in the same period). [2]
A restaurant waiter is an example of a service-related occupation. A service is an act or use for which a consumer, company, or government is willing to pay. [1] Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on.
The Mincer earnings function is a single-equation model that explains wage income as a function of schooling and experience. It is named after Jacob Mincer . [ 1 ] [ 2 ] Thomas Lemieux argues it is "one of the most widely used models in empirical economics".