Question

It is a well-known fact that the growth of hotels is driven by the increase in the number of people using the hotels and an increase in per person use of the hotel. In 2014, it is expected that there will be 20 crore hotel users in Spain, or about 20% of the population, generating Rs. 50 billion as hotel revenues. It is also believed that the revenues in the industry should expand from Rs. 50 billion to Rs. 150 billion by 2018, while the number of users should grow to over 56 crores, or about half the population of Spain, in the same duration. What will be the average growth rate of the population of Spain from the given period 2014 - 2018?

Answer 1

The question does not provide sufficient data to calculate Spain's average population growth rate from 2014 to 2018, as it only gives percentages related to hotel users, not the actual population figures required for calculation.

Step-by-step explanation:

To calculate the average growth rate of Spain's population from 2014 to 2018, we need to use the information provided about the hotel industry as an indirect indicator of population growth. This problem does not have sufficient direct data on the actual population numbers in 2014 and 2018, instead, it refers to the number of hotel users as a percentage of the population.

Therefore, we cannot calculate an accurate average annual growth rate of Spain's population between 2014 and 2018 based on the given information. It's important to note that to find an average growth rate, typically one would use the population values at the start and end periods and the formula for compound annual growth rate (CAGR).

However, since the actual number of Spain's population in 2014 and 2018 is not provided, the calculation cannot be completed. As such, we cannot answer the question with the information provided.