Tourism Sector Quiz

What do small businesses lack in comparison to large businesses?

• Liquidity

• Size

• Coordination

• Economies of scale

How can governments help small businesses in the tourism sector?

• By providing direct financial aid

• By creating large corporations

• By coordinating small businesses to create economies of scale

• By reducing the number of small businesses

What percentage of businesses in the tourism sector are small, according to the World Travel & Tourism Council?

• 50%

• 60%

• 70%

• 80%

Who benefits from the coordination of small businesses in the tourism sector?

• Only the government

• Only large businesses

• Governments, local communities, and businesses

• Only tourists

What impact do tourists increasingly wish to leave on the communities they visit?

• Negative impact

• No impact

• Positive impact

• Economic impact

What is a key difference between small businesses in tourism and their counterparts in other sectors?

• Tourism businesses have fewer working capital requirements.

• Tourism businesses do not need to focus on customer journeys.

• Tourism businesses involve multiple purchases across multiple industries.

• Tourism businesses have simpler payment terms.

What does the Mastercard report suggest about the approach to supporting small businesses in tourism?

• Focus only on business to consumer (B2C) strategies.

• Focus only on business to business (B2B) strategies.

• Use a coordinated approach from both B2C and B2B perspectives.

• Avoid using destination marketing organizations (DMOs).

According to Mastercard research in 2021, what percentage of consumers agree that they are more loyal to retailers offering multiple payment options?

• 50%

• 60%

• 73%

• 80%

What challenge arises when an "open loop" infrastructure is replaced by "closed loop" partnerships in the tourism sector?

• Increased flexibility for tourists.

• Reduced friction for tourists making purchases.

• Increased friction for tourists making purchases.

• Simplified payment processes for tourists.

How can DMOs and payment networks help small businesses in tourism?

• By providing individual payment solutions.

• By bringing small businesses together around coordinated and standardized payment solutions.

• By discouraging the use of integrated tourism engagement platforms.

• By focusing only on large businesses.