Oppurtunity analysis report Essay Example | Topics and Well Written Essays - 1750 words

Oppurtunity analysis report - Essay Example For instance, domestic customers also tightened their belt in 2008 – 2009 amid unemployment, inflation and low real incomes, thereby reducing the money spent on luxury and budget trips for relaxation, honeymoon, sightseeing, entertainment, adventure and casual visits to attractive places across the world. In other words, the demand for air travel followed by demand of foreign and domestic trips reduced significantly in last 2 years that resulted in either complete or partial closures of many travel agencies in USA. However, the US economy is now observing growth and coming out of recession; hence new business and investment opportunities have been created in tourism and hospitality industry. The demand of budget and luxury foreign and domestic leisure trips has increased after sharp decline in preceding years because of improvement in employment prospects and purchasing power. The author, being a business executive, has planned to enter aforementioned industry by establishing his own Travel Agency named â€Å"The Trips Organizers† in New York and Washington Cities. The company will target middle-middle, upper - middle and elite social classes and offer its premium quality products such as budget and luxury tours to potential US travelers and tourists who wish to enjoy numerous exquisite places, resorts, beaches and wonders outside USA. In addition, the company will also market its products to non-US travelers who wish to visit USA for tourism and who are fascinated with its natural beau ty, resorts, backpackers, beaches etc. This opportunity could prove to be highly lucrative because the world is coming out of recession and the demand for foreign and domestic leisure trips is expected to increase at a rate of 5% in upcoming years worldwide. Hence, there is greater probability that our business would remain successful if we offer outstanding, well-differentiated and distinctive services at

Definition and Explanation of Closed and Open Economic Systems Essay

Definition and Explanation of Closed and Open Economic Systems - Essay Example ic system are trading of goods and services at international levels and engaging in import and export of goods and services between various countries. Therefore there is no doubt that this leads to inner and outer flows. It may be goods and services in the form of import and export or the flow of resources, such as labor, capital and currency. The flow of labor is in two ways: emigration and immigration. Emigration means the outer flow of people to different countries, whereas immigration is the inner flow of laborers into the country. Capital flow refers to foreign trade investment. Defines and explains leakages in an open system. In the open system, a there is financial model that computes the goods and services exchanged nationally. The leaks in the open system include all transactions of foreign countries.  Ã¢â‚¬Å"In an open system, taxes are included in the model to show government purchases and inject money back in to the economy† (The Mechanics of Open and Closed Syste m, 2012, para. 4).  Ã‚  Funds being lost due to purchases of foreign facilities can also be seen in the open system. Another structure of leakage that can happen is when US industries outsource their capital OR labor to foreign countries. Even though the industry is saving and can currently make extra profits, the cash that is leaked may not be regained later. Define and explain injections in an open system. An injection happens when a foreign or individual company purchases American commodities or facilities. If a foreign industry hires workers belonging to the US, the wages deserved by the employees are measured and injected back into the financial system. Similarly, when the local government produces purchases in America or provides facilities like welfare, the cash is injected back into the... This essay discusses the closed economy, that is the opposite of an open economy. In a closed economic country, that were analyzed in this essay all economic activities are conducted within the boundary of the country. Such an economy is an independent economy, which means the country does not accept imports from other countries and also does not export to foreign countries. The main objective of this type of economy is to make everything available for people within the confines of the economy. Thus, it can be stated that such a country will not engage in any type of trade or have even the slightest of interactions with other countries. However, it can be seen that in the modern times closed economic countries are very rare. For example, China was a closed economy earlier and then transformed into an open economy, when the China Government understood the benefits that come along with being an open economy. Hovewer, the researcher also mentions that Brazil remains one of the most clos ed economies in the world today. Today, an industry aims to give more US jobs in addition to create earnings from selling to foreign countries is the important example of injection. The company â€Å"green† was identified Wind Sail Reception, Inc. is situated in Nevada and has been creating turbines to change wind to power since the year 2002. The industry sells to American energy services and European services. The income created from the European market is measured a cash injection to the economy of the United States.