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Ch 4

Bringing Travelers and Tourism Serivce Suppliers Together

TermDefinition
Baggage personal belongings packed in suitcases for traveling; luggage.
CDC Centers for Disease Control and Prevention
Duty a moral or legal obligation; a responsibility.
Duty Free Port a designated area within a port or airport where goods can be brought in from other countries without the payment of customs duties, as long as they are re-exported or stored for later export
Dynamic Packaging the process of bundling various travel components like flights, hotels, car rentals, and activities into a single, customizable package with a real-time, combined price
Embassy the official residence or offices of an ambassador
Exchange Rate the value of one currency for the purpose of conversion to another
Horizontal Integration a business strategy where a company acquires or merges with a competitor at the same level of the supply chain to increase its market share and reduce competition
Package Tourism a type of holiday where a travel company bundles travel components like transportation, accommodation, and activities into a single product sold for a fixed price
Passport a thing that ensures admission to or the achievement of something
Tourist Destination a place, such as a city, town, or region, that is specifically visited by people for pleasure, sightseeing, or recreation
VAT is a consumption tax that is added to the price of goods and services purchased by travelers, such as hotels, meals, tours, and souvenirs
Vertical Integration a business strategy where a company controls multiple stages of its supply chain, such as production, distribution, and retail, instead of relying on external companies for those functions
Visa an endorsement on a passport indicating that the holder is allowed to enter, leave, or stay for a specified period of time in a country
World Health Organization a specialized agency of the United Nations (UN) that is responsible for promoting global health and safety
Created by: mhein26
 

 



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