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5 Summary of The Study
5 Summary of The Study
Nature of Industry
The travel agency business is in the travel and tourism industry. Tourism is one of
the world's fastest growing industries as well as the major source of foreign exchange
earnings and employment for many developing countries. Currently, the tourism industry
in the Philippines is a major contributor to its economy, contributing 5.9% to the
Philippine GDP in 2011. The Philippines is an archipelagic country composed of 7,107
islands. The country's rich biodiversity is the main tourist attraction of the Philippines. Its
beaches, mountains, rainforests, islands and diving spots are among the country's most
popular tourist destinations. The country's rich historical and cultural heritage is also one
of the attractions of the Philippines.
Type of Organization
b. Technical Study
In technical study, the daily operation and ticketing is singled out procedure by
procedure. It tackles the processes undergone from the moment the client enters the
business premises up to the actual handing of ticket to the client. Specifically, the
business serves domestic ticket selling, international ticket selling, passporting, visa
assistance, and package tour and hotel accommodation.
One the process is defined we move to the physical elements needed by the travel
agency, among these are machinery and equipment, furniture and fixtures, and office
supplies. The location of the business is described. Accordingly, the office layout is
showcased along with the detailed floor plan and blueprint. A Gantt chart is also
presented to determine how much time is needed to the actual operations to commence.
Utilities needed to carry out the business are set and estimated based on annual
consumption. Total project cost is summed up to determine the organization cost for the
first year of operations.
A business needs to define its organizational chart for a smooth flow of operations and
without collusion of responsibilities.
d. Financial Study
Based on the analysis of the financial statements the business will have a loss in the
first two years but will recover starting from its third year and so forth.
e. Socio-economic Study
This section pertains to the possible socioeconomic affects that may be associated with
the proposed project. In employment aspect the proposed project are helping competent
and qualified job seekers and unemployed individuals with considerations to their ability,
character, and educational attainment to their skills and knowledge and were providing
them a source of income themselves.
The proposed project will greatly contribute to our country, by promoting tourism
within the country.