The impact of World Financial Crisis on Hotel Industry in Zanzibar

Ali, Rashid Abdalla (2013) The impact of World Financial Crisis on Hotel Industry in Zanzibar. Masters thesis, The Open University of Tanzania.

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Abstract

Hotel industry (HI) is catalyst on Zanzibar economy with mutual support with indigenous. Hotel Industries faced problem of World Financial Crisis (WFC) after failure of several large Western countries based financial firms. Most of Hotel Industries customers come from Western countries which are suffering from World Financial Crisis. Tourism is one among big economic sector in Zanzibar hence World Financial Crisis affect much due tourists trips cancellation. The objective of this research is to examine the impact of World Financial Crisis on Hotel Industries in Zanzibar. Research areas are tourists attraction places and institutions that direct deals with tourism, The study design was descriptive, research approach was qualitative and quantitative, sampling procedure was simple random and purposive sampling, 21 respondents were contacted. Data collection methods used were documentary review, self-administered questionnaires with respective interviews. Findings of this study reveals impact of World Financial Crisis as low employment level on Hotel Industries, that organizations compelled to give their employees leave without pay and postponed hiring new workers. ZRB show revenue collection report in the year 2008/2009 falls, tourist travel cancellation that results less customers in Hotel Industries. Hotel Industries contributed largely to government and private companies to pay attention to infrastructure not only to facilitate easier transport to natives but also improving tourism sector in the country. The study recommended that there must be good policy for sustainability of the tourism the government of Zanzibar should know that Hotel Industries is solution of some socio-economic development.

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