Download or read book What Factors Influence Business Life Cycle Stages Change written by Johnny Ch LOK and published by . This book was released on 2020-09-06 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: ⦁How the price of oil changes influences global tourism industry growth or recession?In macro-economic view, sudden mid and long term oil price shock can influence global torusim industry growth or recession. For example, a oil price of US$180 per barrel was considered only a few years ago, now this has a realistic scenario to which all plaers in the T&T sector have to adapt. At such a high level, the price of oil will become even more critical to almost every part of the tourism value chain. Although, weak global demand, caused by global economic recesson, resulted in a steep oil price decline to US$45 per barrel by the fourth quarter of 2008 in the past low oil price occurrence history, this won't change the mid to long -term oil forecast.In fact, the past oil price occurrence history of the dramatic structural had changed a high price imposed on airlines, travelers, and destination countries, all of which will have to navigate through times of shifting or even declining travel demand. I assume that a high oil price scenario is assumed in the long term in order to highlight the changes , such a senario would mean for consumer behavior and the competitiveness of several destinations. Low oil price in the 1970 and early 1980 did not bring significant growth of international air travel, but its growth has been strongest between 1980 and 2004, a period with stable and relatively moderate oil prices. Also, the rapid development of the low-cost carrier business model in the 1990s further fueled air travel growth by capturing tourism leisure demand , such as weekend leisure travel to cities using mostly secondary airports in any big area countries, such as UK, US . However, the tourism growth is whole influenced by high oil prices, due to oil price had been continue rising in possible.Basis of oil is shortage supply product, oil is assumed to be the main energy source for the aviation sector for the nest 30 years. Although, second-generation biofuels seem to be on the horizon, the economics as well as the production scalability and aviation biofuel shortage will be a main challenge to airline industry. So, I assume that oil price will continue rise up, if there have none any aviation biofuel can be reflected to oil to use for air plane energy.Until 2004, the only factors to have affected air travel growth, negatively were in external shocks , such as 9/11, causes catching air plane crisis or US regional geopolitical conflicts. It brings some travelers feel fear to go to US travel, as well as until recently 2019, human mouth disease can influence air to have disease to anyone from mouth. So, global travelers number had been continue decreasing, because they are fear to get disease by air when many themselves every stranger travelers are sitting on the without windows air planes. Although, mouth human and air disease and US 9/11 air attack both matters may influence oil price falls effect, because air planes flying times will reduce. They won't need frequent to fly, to cause aviation oil energy need reduce. Consequently, oil price will decrease, due to travelers number reduces and air planes flying times are also influenced to reduce. ( oil demand decreases cause oil price decrease). Although, air lines ' cost will also be influenced reduce, but oil price decrease can not bring travelers number increase , when air ticket price reduce because global many leisure and business trip travelers feel fear to catch air planes frequently when human mouth air disease occured in 2019. So, oil price decreases can not grow up tourism industry growth or rise tourism income.