External Business Environment of Hospitality Industry

The word external is described as any force, issue, person, or anything connected to outside, (Bradley C. Karkkainen, 1994. William H. Rodgers, 1994). This refers to everything that is connected with the exterior of a certain thing, is called external. External in this report will be discussed with reference to the forces that influence a change in the business environment and its strategies.
The U.K. is a well stabled, prosper and a developed nation, and that’s a major reason behind many businessmen who want to invest in the United Kingdom. United Kingdom’s environment is a business-friendly and is also very welcoming to new trends, which makes the market profitable and every business find a way to the profits because of the cosmopolitan nature of the country.
London is considered to be a magnet for global businesses and investors. Moreover, the European Union serves as an addition to the market of London. Businessmen just intend to enter into the single largest market of the world, with the world-leading financial services of the world. By now, it is fairly understood that how is the U.K. environment in terms of businesses, operate and why are the investors so keen to invest in the pool.
Additionally, the U.K economy holds one of the highest GDPs (Gross Domestic Products) in the whole world. It is the Fifth largest economy of the world with a GDP of $2,727 billion (Source: World Bank, 2008). It means that the economy of the United Kingdom is doing its very best for the investors and lenders because in the future big amounts shall be returned as the dividend or the profit shares.
It has been forecasted, that the economy of the U.K. will do the best in all the European Union countries from the period of 2008 to 2012 (Source: EIU, 2008). It is because the U.K. holds most of the tertiary sector and produce manufactured goods. The ideal country to invest for business shall be the U.K. It is because neither instability in the economy exists nor any fluctuations in the past years have been observed yet. Economically, the U.K. is by far the best place to invest for business in.
According to the sources, the population of the United Kingdom has a figure of 61 million (ONS, 2008). It means that the population according to the area occupied by the country, is less, and as it is a central place for investors, other families from different countries may migrate to London. In this case, families and individuals of other countries may increase the population of the country, but the native British people are just the number shown above.&nbsp.