microeconomic environment facing Herbert Chapman (look at the main competition, costs pressures etc.)

Chapman's problems are not so surprising given the fact that starting from 2009 more Britons preferred to stay home during the vacation than travel abroad. It is surprising that Chapman's competitor in fact reported business. Were Chapman to have concentrated on local tourism instead, he may have noted greater profit for companies such as the Association of British Travel Agents remarked that tourism had increased in Britain during January 2009 and that companies that were focusing on British tourism (namely local tour operators) were actually reporting profit.

In fact, research by VisitBritain, the tourism authority, indicated that 74 per cent of people were in fact actively working towards methods of cutting their expense and finding their relaxation at home as opposed to abroad..

Given other reports indicating that other companies have caught onto this trend and are...
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