Hospitality Management
Economic growth refers to the increase in the production of goods and services in an economy over a period of time, usually measured as the percentage increase in real gross domestic product (GDP). This growth is crucial for improving living standards, creating jobs, and generating revenue for both public and private sectors. In the context of the hospitality sector, economic growth can enhance consumer spending, leading to increased demand for hospitality services such as hotels, restaurants, and travel, which in turn fuels further growth in the sector.
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