TRAVEL & TOURISM

  3.1 Introduction – Business of Tourism  Tourism is a dynamic (constantly changing) industry . It has its own identity and special requirements . Earlier, tourists depended on: Travel agents Tour operators Now, due to the internet , tourists can: Book tickets online Reserve hotels directly Get destination information easily Important Point: Even after digital growth, travel agents and tour operators are still important for: Expert guidance Package tours Handling complex travel needs Tourism business involves: Different activities Unique functions Special terminologies This unit helps to understand: Tourism-related terms Work of travel agencies Difference between domestic and international travel 3.2 Travel and Hospitality Terminology  Every industry uses special terms (terminology) for communication. In tourism, these terms are: Often short words or acronyms Used in ticket booking, hotel reservation, tour planning These terms come from: Tourism sector Hospitality secto...

  6.1 Meaning of Cost Definition of Cost: Cost refers to the total monetary value of resources used for acquiring goods or services to achieve a specific objective. Simple Explanation: Cost is the amount spent (actual or estimated) on purchasing services or producing goods. Key Points: It includes both actual and notional (estimated) expenses. It is always measured in monetary terms . It helps in managerial decision-making . Cost is related to value creation or value addition . It does not include profit or distribution of income . Example : A tour operator spends money on hotel bookings, transport, and guides—this total spending is called cost . Types of Cost 1. Fixed Cost Costs that do not change with the number of tourists. Example: Office rent, staff salaries. 2. Variable Cost Costs that vary with the number of tourists . Example: Food, tickets, hotel charges per person. 3. Direct Cost Costs directly related to a specific tour. Example: Hotel booking for a group, transport ...