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Features of Travel and Tourism Sectors Private sector The UK economy is a mixed economy. This means that it has a public sector, and a private sector. In the public sector, the state owns or controls the businesses. In the private sector, individuals (shareholders, sole traders or partners) own the businesses. The aim of a business in the private sector is to survive by making a profit. This may be a sole-trader working alone, like a newsagent, or thousands of shareholders in a large Public Limited Company. Businesses gain a larger market-share by increasing the sales of their products against competitors. This may involve reducing prices. To win the loyalty of customers and encourage repeat sales, businesses need to be reliable and provide a quality service to their customers. For example: * Hotels * Pubs * Travel Agents * Retail Public ownership refers to any service or industry owned by the state, for example: * National Health Service * Emergency services...

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