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QUESTION
ANSWER THE QUESTIONS BASED ON WHAT YOU WANT
ANSWER THE QUESTIONS ONE BY ONE NOT IN AN ESSAY FORMAT
In order to start preparing for your country profile analysis, I would like for you to answer the following questions.
1. If you can open up any business anywhere in the world, in which country would you do so? Why would you choose this country?
2. What kind of industry/business are you interested in and why?
3. Why do you feel that this type of business would succeed in this country in particular?
Subject | Uncategorized | Pages | 3 | Style | APA |
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Answer
Investment
Question One
If I were to open up any business anywhere in the world, it would be in East Africa, specifically Kenya. The country is the best destination for business because, first, it has easy access to affordable but skilled labor. Labour is one of the factors of production and is, therefore, a key consideration needed when choosing a business location. Furthermore, the cost of labor is an expense that reduces profits made by the business. Therefore, it is integral to consider the cost and availability of labor. Kenya has one of the highest literacy levels in the east and central Africa and will guarantee a supply of skilled but affordable labor.
Secondly, the country has a large population and receives a large number of tourists annually, which will provide a steady supply of customers for the business. The citizens, coupled with the tourists, will form the company’s target market. The number of tourists is therefore large enough to make doing business in the country feasible. Additionally, through various policies, the government has significantly reduced the cost of starting and doing business in the country. Unlike other popular tourist destinations in Africa, the country has eliminated most bureaucratic requirements in setting up business operations. Therefore, creating an environment where it is easy to register and start operating a business as a foreigner. Thirdly, the country has a culture that values hard work and hospitality. The culture of the country is vital to the line of business I am planning to start.
Question Two
I am interested in the tourism industry. I will start a five-star hotel and tour and travel company. Both businesses fall under the tourism industry. I am interested in the tourism industry because I have a passion for traveling and seeing the world. I have always had a dream to travel and the tropics and enjoy the sunlight of the African savannah. Investing in the tourism industry will, therefore enable me to make money while actualizing my dream.
Secondly, most economies in Africa benefit significantly from revenue generated from tourism. The industry raises the bulk of the revenues used by the nations to provide public goods. Kenya has a vibrant tourism market that has not been adequately explored due to the high level of capital required to adequately finance investments in the tourism industry. The initial cost of investment required to start such a business in the industry has locked out most locals from investing in the tourism industry. However, even though the cost required to establish a facility that can rival others in the continent is high, the investment will guarantee value for money and a high return on investment.
Question Three
Investing in the tourism industry will succeed in Kenya because of the country receives a high number of tourists annually from various destinations around the world. The tourists will therefore require services such as tour vans for their tour across the country and hotels to stay in during their visit. Secondly, the country has one of the highly watched wonders of the world, the wildebeest migration, that draws in a lot of tourists to the country. The event alone can provide sufficient customers that can make the business to break even.
Apart from foreign tourists, the government of the country has also intensified marketing to promote domestic tourism. Kenyans have adopted domestic tourism and, therefore, spend their weekend and holidays in various destinations across the country. Increased adoption of domestic tourism will also guarantee the company a steady flow of customers
References
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