Q&A Flashcards
What agreement allowed American businesses to operate in the country just like Filipino businesses?
The Bell Trade Act
This is illegal business where people sold products without paying taxes.
Black Market/ Underground economy
Give one example of a business that boomed during Manuel Roxas’s time.
- Construction
- Industrial Revival
- Banking and Finance
- Import-Export Business
This code aimed to abolish share tenancy and introduce a leasehold system.
Agricultural Land Reform Code
What economic policies did Macapagal implement to improve the country’s economy?
- decontrol of foreign exchange
- liberalization of trade
Give at least 3 Roles of Entrepreneurship in Hospitality and Tourism Industry based on the report
- Innovation and Creativity
- Job Creation and Economic Growth
- Digital Transformation
- Sustainable and Responsible Tourism
- Enhancing Customer Experience
What plays a vital role in shaping the hospitality industry?
Entrepreneurship
It creates opportunities for new businesses by meeting tourist preferences, contributing to destination development.
Economic Diversification
This is where tourism initiatives showcase local culture and heritage, like cultural tours, to help preserve and promote unique destination features, fostering cultural exchange and understanding.
• Promotion of local culture and heritage
One of the contribution of entrepreneurs by introducing new products, services, and technologies, improving efficiency and creating new markets.
Innovation
Identify the organization that regulates and supervises Tourism Enterprise Zones (TEZs) in the Philippines.
The Tourism Infrastructure and Enterprise Zone Authority
Identify the initiative that mentors micro, small, and medium enterprises (MSMEs) in the tourism sector to promote local culture and economic growth.
Go Negosyo Tourism Summit
Challenges that have impacted in Hospitality and Tourism Industry over the last few years and now present a significant issue for related businesses.
Staff Shortages
They boost economic growth by introducing innovative technologies, products, and services.
- Entrepreneurs
It is transforming the hospitality and tourism industry, but keeping up with the latest trends can feel overwhelming.
—Technology
